Definitions used in this chapter::
CULTURAL FACILITY. A facility that is owned by the state, a county, a municipality or a qualifying entity that serves the public through preserving, educating and promoting the arts and culture of a particular locale, including theaters, museums, libraries, galleries, cultural compounds, educational organizations, performing arts venues and organizations, fine arts organizations, studios and media libraries and live-work housing facilities.
ECONOMIC DEVELOPMENT PROJECT. The provision of direct loans or grants for land, buildings or infrastructure; technical assistance to cultural facilities; loan guarantees securing the cost of land, buildings or infrastructure in an amount not to exceed the revenue that may be derived from the municipal infrastructure gross receipts tax and the county infrastructure gross receipts tax; grants for public works infrastructure improvements essential to the location or expansion of a qualifying entity; grants or subsidies to cultural facilities; purchase of land for a publicly held industrial park or publicly owned cultural facility; and the construction of a building for use by a qualifying entity.
GOVERNING BODY. The City of Elephant Butte.
PROJECT PARTICIPATION AGREEMENT. An agreement between a qualifying entity and the city whereby the city provides assistance to an economic development project in exchange for the benefits received as set forth in the section.
QUALIFYING ENTITY. An existing or proposed corporation, limited liability company, joint venture, syndicate, association or other person that is one or the combination of two or more of the following:
(1) An industry for manufacturing, processing, or assembling of any agricultural or manufactured products;
(2) A commercial enterprise for storing, warehousing, distributing, or selling products of agriculture, mining or industry, but other than provided in divisions (4), (5) or (8) of this definition, not including any enterprise for sale of goods or commodities at retail or for the distribution of electricity, gas, water, or telephone or other services commonly classified as public utilities;
(3) A business in which all or part of the activities of the business involves the supplying of services to the general public or to governmental agencies or to a specific industry or customer, other than provided in divisions (4), (5) or (8) of this definition, not including business primarily engaging in the sale of goods or commodities in retail;
(4) A telecommunications sales enterprise that makes the majority of its sales to persons outside New Mexico;
(5) A facility for the direct sales by growers of agricultural products, commonly known as farmers' markets;
(6) A business that is the developer of a metropolitan redevelopment project;
(7) A cultural facility; and
(8) A retail business.
RETAIL BUSINESS. A business that is primarily engaged in the sale of goods or commodities at retail and that is located in a municipality with a population of ten thousand or less.
(Ord. 166, passed 7-19-2017)