An Economic Development Incentive Program is hereby established for the purpose of providing funding for activities associated with offering certain economic incentives to business entities to remain or locate within the City of Grandview Heights (“City”).
No economic development incentives shall be provided to any business entity unless the City Council makes a determination, in its discretion, that use of the economic development incentives meets all of the following requirements:
(a) The business entity’s project is economically sound and will benefit the people of this community by increasing opportunities for employment, and strengthening the economy of the community.
(b) The business entity will effectively maximize or commit to maximize the density of employment at one or more of the community’s vacant or under-utilized buildings.
(c) Application for the inducement is made before the business entity purchases or improves a property under consideration for an inducement, and receiving the inducement is a major factor in the business entity’s decision to go forward with the project.
(d) The project will not result in unanticipated and unfunded public service needs.
(e) The site from which the employment positions would be relocated is inadequate to meet market and industry conditions, expansion plans, consolidation plans, or other business considerations affecting the business entity.
(f) The legislative authority of the county, township or municipal corporation from which the employment positions would be relocated has been notified of the proposed relocation.
(Ord. 04-32. Passed 12-8-04.)
(Ord. 04-32. Passed 12-8-04.)