(A) Incentive area eligibility criteria. Except for those incentives discussed in § 112.05(C) above as authorized by the state and which are intended by the terms of this economic development incentive program to be applied city-wide, in order for a development to be eligible to receive incentives, the Council must determine that the development meets, or upon completion will meet, each of the following criteria:
(1) The development is consistent with the City of Goose Creek comprehensive plan (as may be amended) and the City of Goose Creek economic development strategic plan (as may be amended) (together, the "plans") as well as the goals.
(2) Absent the provision of incentives, the development would be unlikely to occur or unlikely to occur at the level or scale contemplated by the developer.
(3) The development must:
(a) Be located within the incentive area, as defined in § 112.03; or
(b) Be subject to a pending petition to annex into the corporate limits of the city.
(4) The development must comply with the applicable minimum threshold investment amounts set forth in § 112.05(B) (as applicable based upon the particular incentive, the "minimum investment").
(a) The minimum investment may be comprised of any combination of:
1. Real property acquisition costs;
2. The costs of physical improvements to real property; or
3. The costs of capital improvements to city infrastructure.
(b) The minimum investment may be calculated based upon investment in a single property or the cumulative investment in multiple properties comprising a single development, each within the incentive area. Where multiple uses or businesses are to be located within a single development as separate businesses, the Council may, at its discretion on a case-by-case basis, allocate appropriate portions of the total investment in the development to such separate business in order to allow such business to meet the minimum investment eligibility requirement.
(5) The total value of all incentives received by an incentive recipient shall not exceed the incentive recipient's actual investment in the development consisting of those costs set forth at division (A)(4)(a) above.
(6) The intended use of the development must be for one or more of the following business purposes:
(a) Retail uses;
(b) Tourism-related business or activites;
(c) Businesses engaged in the creation of artwork or performing arts (both as defined in § 154.01)
(d) Corporate headquarters;
(e) Research and development;
(f) High technology growth businesses;
(g) Full service restaurants;
(h) Brewery or distillery concept with on-site production;
(i) Any commercial use where the property is subject to a pending petition to annex into the corporate limits of the city and incentives are provided as an inducement for such annexation; and
(j) Other uses, as may be determined by the Council, that are consistent with the goals, and the plans.
(B) Specific criteria. The Council may, at its discretion and on a case-by-case basis, include within an incentive agreement any other eligibility criteria that must be met upon completion of a development in order to ensure that the goals are met and that the development provides benefits to the city (and its citizens) in amounts that warrant the implementation of incentives.
(Ord. 17-018, passed 8-8-2017; Ord. 2024-008, passed 5-14-2024)