(A) Eligibility requirements.
(1) To be eligible for the incentives, the approved company/business must be located within the corporate boundaries of the city.
(2) A completed application including any applicable building plans must be submitted to the city for review. The applicant may be required to meet with the reviewing committee during the review process. Applications receiving the recommendation of the Committee will be submitted to the City Council for final approval.
(B) General incentives.
(1) Existing companies/businesses may apply for matching grants for improvements, for example, marketing, signage, repairs, remodeling, refurbishing, and the like. The maximum amount for the grants is two thousand five hundred dollars ($2,500.00), and will be made as reimbursement for approved expenses. These grants are contingent upon the approval of the application by the reviewing committee and the City Council and is subject to the availability of funds in the General Fund budget.
(2) Both existing and new companies/businesses may apply for a waiver of required permit fees, for example, zoning permits, building permits, planning fees, and the like.
(3) New companies/businesses may apply for a waiver of utilities connection fees for water, sewer, and gas.
(4) New companies/businesses may apply for a waiver of business license fees for a period of up to three (3) years.
(C) Job creation based incentives.
(1) Any applicant locating new jobs within the boundaries of the city that will generate a minimum of new annual payroll of not less than two hundred fifty thousand dollars ($250,000), which payroll will otherwise be fully subject to the city's occupational license fee ("payroll"), may apply for the incentive. The approval of any incentive shall be conditional on supplying all required information and on an agreement containing all terms and conditions. No incentive shall exceed three (3) years in duration under any circumstance.
(2) If an approved company/business will generate two hundred fifty thousand dollars ($250,000) or more in new payroll and satisfies all other restrictions and requirements of the purpose and goals of this chapter, then it may be entitled to an employee withholding credit equal to 50% of the occupational licensing fees that would otherwise have been payable to the city.
(Ord. 10-17-1, passed 10-9-17)