For purposes of this chapter, the following definitions shall apply unless the context indicates or requires a different meaning.
ECONOMIC DEVELOPMENT PROJECT. The provision of direct or indirect land, buildings or other infrastructure; public works improvements essential to the location assistance to a qualifying business and include the purchase, lease, grant, or construction, reconstruction, improvement or other acquisition or conveyance of expansion of a qualifying business; and payments for professional services contracts necessary for local or regional governments to implement a plan or project.
GOVERNING BODY. The City of Elephant Butte Council.
PROJECT PARTICIPATION AGREEMENT. An agreement between a qualifying entity and the City of Elephant Butte whereby the City of Elephant Butte provides assistance to an economic development project in exchange for the benefits received as set forth in this section.
QUALIFYING ENTITY. An existing or proposed corporation, limited liability company, partnership, joint venture, syndicate, association or other person that is one or 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 paragraph (4) of this subsection, not including any enterprise for sale of goods or commodities at retail or for the distribution to the public 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 government agencies or to a specific industry or customer, but, other than provided in paragraph (4) of this subsection, not including business primarily engaged in the sale of goods or commodities at retail;
(4) A telecommunications sales enterprise that makes the majority of its sales to persons outside of New Mexico.
(Ord. 101, passed 3-21-2007)