(A) (1) Applications for economic development projects requesting economic assistance from the City of Elephant Butte, which meet the policies and objectives of the City of Elephant Butte’s Economic Development Plan, shall receive priority.
(2) Examples include, but are not limited to:
(a) Manufacturing firms (including intellectual property such as computer software);
(b) Projects, which enhance the exporting capacity of companies and/or provide goods and services, which currently have to be imported into the City of Elephant Butte;
(c) Private companies seeking to build, expand or relocate facilities;
(d) Private companies which provide facilities or services which enhance the ability of Elephant Butte’s businesses to operate;
(e) Organizations, which assist business start-ups or bring small companies together to increase their competitive abilities. This must involve a tangible project, which will create jobs and promote an industry. Examples include, but are not limited to:
1. Business incubators;
2. Art incubators or coalition (e.g. a performing arts coalition seeking construction rehearsal or performance facilities);
3. Public markets for farmers, gardeners, crafts, etc.; and,
4. Organizations which foster economic development by promoting work force development efforts such as apprenticeships or other job training programs;
5. Projects in industry clusters listed above are particularly encouraged, but others are eligible to apply as well. The intention is to retain flexibility in the use of incentives;
(B) All applications for economic development projects requesting economic assistance from the city shall submit a cost benefit analysis. Preparing a cost benefit analysis shall be the responsibility of the applicant. The city retains the right to specify a format and methodology for the cost-benefit analysis. The City Council shall review and approve the methodology used. The source and rationale for any multiplier effects shall be identified. The cost-benefit analysis shall show that the City of Elephant Butte will recoup the value of its donation within a period of 10 years. The analysis shall address the following:
(1) The number and type of jobs to be created, both temporary construction jobs and permanent jobs (by New Mexico Department of Labor job category);
(2) Pay scale of jobs;
(3) Determination of which jobs are expected to be filled locally and which will be filled by transfers from other facilities or recruited from outside the Elephant Butte area;
(4) Total payroll expected at start-up and after one year;
(5) Anticipated impact on local tax base; and
(6) Anticipated impact on local school systems.
(C) All applicants for economic development projects requesting economic assistance from the city shall require review. This review shall focus on environmental and community impacts of proposed projects. Special attention shall be given to job training and career advancement programs and policies. Projects shall demonstrate a strong commitment to providing career opportunities for Elephant Butte area residents. Cultural impacts of projects shall also be considered.
(D) Any qualifying entity seeking assistance shall prepare and make available a job training and career development plan for their employees.
(E) All applicants for economic development projects requesting economic assistance from the city shall clearly demonstrate the benefits, which will accrue to the community as a result of the donation of public resources. The city has considerable flexibility in determining what is considered as adequate benefits. Benefits such providing components or production capabilities, which enhance a targeted industry cluster, or addressing critical deficiencies in regional economy, may be recognized. The benefits claimed of any proposal will receive careful scrutiny. However, it is the intent of this chapter to be flexible in the evaluation of these benefits, and to recognize the qualitative as well as quantitative impact of a proposal.
(F) All applicants for economic development projects requesting assistance from the city shall clearly demonstrate how the qualifying entity is making a substantive contribution. The contribution shall be of value and may be paid in money, in-kind services, jobs, expanded tax base, property or other thing or service of value for the expansion or improvement of the economy. The city retains flexibility in defining the substantive contributions. The benefits identified in the previous paragraphs may be accepted as adequate contributions on their own, or as cash donations may be required. Assistance in providing affordable housing to its employees or the community at large may also qualify. Determination of what constitutes an acceptable contribution for a given project shall be at the discretion of the governing body.
(Ord. 101, passed 3-21-2007)