For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
AGREEMENT. Any agreement made pursuant to this chapter between the city and an approved company with respect to an economic development project.
APPLICANT. A business whose employees are primarily engaged or will be engaged in professional, administrative or technical occupations, or a manufacturer, which business or manufacturer is located, or proposes to locate its business, in the city, and which commits by agreement to maintain existing jobs in the event that the business has a reasonable probability of relocating outside the city, or create a minimum new jobs and annual payroll within the city as hereinafter provided. An applicant shall not include sexually oriented businesses or businesses that are primarily engaged in the sale of alcoholic beverages.
APPROVED COMPANY. An applicant that the Mayor deems to have qualified for an incentive.
APPROVED COMPANY’S EMPLOYEES. The full - or part-time employees of an approved company who perform services within the city and are subject to the city’s occupational license fee as set forth in § 110.26(A) of the city’s Code of Ordinances.
COMMENCEMENT DATE. The date that the incentive is first available to the approved company as provided in the agreement.
INCENTIVE. Up to a 50% reduction in the rate of the occupational license fees collected by an approved company from an approved company’s employees or, alternatively in the event the approved company is withholding and remitting to the city the full amount of the occupational license fee from the approved company’s employees pursuant to § 117.03(A)(2), up to a 50% refund from the city for payment of the fees at the end of each incentive year, for a term not to exceed five years, provided the approved company agrees to operate its business within the city, or forfeit and repay to the city its incentive should it relocate prior to expiration of the agreed upon term, and up to a 25% reduction in the rate of the occupational license fees collected by the approved company from the approved company’s employees or alternatively in the event the approved company is withholding and remitting to the city the full amount of the occupational license fee from the approved company’s employees pursuant to § 117.03(A)(2), up to a 25% refund from the city for payment of the fees at the end of each incentive year, for a term not to exceed ten years.
INCENTIVE YEAR. The 12 month period beginning on the commencement date, and each 12 month period thereafter during the term for which the incentive is available to the approved company.
(Ord. 2011-05, passed 4-5-11; Am. Ord. 2011-09, passed 7-11-11)