(A) The City shall not grant the incentives authorized in § 35.16 without finding the potential owner/developer meets the following:
(1) The rebating of the fees, expenditure of the funds, or rebate of City sales tax revenues will assist in the creation or retention of a significant number of jobs in the City with the hourly average wage for non-exempt positions (pursuant to the FSLA) of at least 75% higher than the federal minimum hourly wage and wherein the owner/developer pays at least 25% of its average hourly wage for non-exempt positions in benefits; and
(2) New eligible industrial and commercial projects must expend a minimum of $1,500,000 in equipment, machinery, land, and building improvements as its initial investment at a single location; or expansions of existing eligible industrial and commercial projects must expend a minimum of $750,000 in equipment, machinery, land, and building improvements as its expansion investment at a single location.
(B) The City may also consider the following factors in determining whether the potential owner/developer should be granted incentives:
(1) Economic development will be furthered by rebating the fees, expenditure of funds, or rebate of City sales tax revenues;
(2) The owner/developer’s operation will otherwise improve or enhance the economic welfare of the citizens of the City;
(3) The owner/developer’s operation will not disproportionately expend natural resources or public infrastructure and services, such as transportation infrastructure or public safety services;
(4) The benefits the City will receive from the industrial or commercial project outweigh the economic costs to the City, as demonstrated through the City’s fiscal impact analysis model; and
(5) The owner/developer’s use of and availability of other funds and rebates from the City or other sources, including other governmental entities.
(Prior Code, § 23-3)