(a) Within the month of September, the Special Projects Committee shall review the
application and determine:
(1) The eligibility of the applicant;
(2) The number of eligible jobs reasonably anticipated to be created by the applicant in connection with the proposed project; and,
(3) The aggregate new annual payroll reasonably expected to be generated by the payment of wages, salary and performance-based compensation to individuals employed in eligible jobs created by the project.
(b) If the Special Projects Committee determines the applicant is ineligible to apply for Job Creation Incentive Program assistance or that the proposed project is not eligible for an award of assistance based on a Special Projects Committee finding that the number of eligible jobs reasonably anticipated to be created by the project or aggregate new payroll attributable to eligible jobs created by the project is insufficient to establish eligibility under Section 162.04, the Special Projects Committee shall deny the application and state the reasons for denial.
(c) If the Special Project Committee determines the applicant is eligible for Job Creation Incentive Program assistance and that the proposed project is eligible for a grant of assistance under the standards of Section 162.04, it shall make a recommendation to Council to award a grant of Job Creation Incentive Program assistance. The recommendation shall recite the Committee's findings with respect to:
(1) The anticipated number of eligible jobs to be created and relied on as justification for the grant of assistance;
(2) The aggregate new payroll expected to be generated by payment of wages, salary and performance-based compensation to individuals employed in eligible jobs and relied on as justification for the grant of assistance;
(3) The annual amount of Job Creation Incentive Program assistance to be awarded; and,
(4) The number of years the award of Job Creation Incentive Program assistance is to be paid.
(d) In determining the annual amount of the award for any proposed project for more than one hundred (100) eligible jobs created, the Committee shall consider:
(1) The number of eligible jobs anticipated in relation to the minimum number of eligible jobs required to establish project eligibility under the applicable standard of Section 162.04;
(2) The aggregate new payroll anticipated to be generated;
(3) The necessity of an award to the commercial viability of the proposed project;
(4) The necessity of an award to attract the proposed project to the Village of Forest;
(5) The number of non-program eligible jobs expected to be created by the applicant as a consequence of the proposed project and probable aggregate new payroll to be generated by those employment positions;
(6) The number of employment opportunities expected to be created by others as a consequence of the proposed project being located in the community; and,
(7) The amount of any increase in water or sewer revenues likely to be experienced by the municipality as a consequence of the proposed project being located in the community.
(Ord. 1900. Passed 8-11-16.)