(a) Multiple economic inducements may be used in conjunction with other inducements, if each inducement meets the criteria for that inducement, both alone and in conjunction with all other proposed inducements, as determined in the discretion of the City Council.
(b) The City Council shall determine:
(1) The first and last taxable year for which an economic inducement may be claimed,
(2) The first and last period for which the business entity must complete any requisite activity,
(3) The benchmark by which the activity will be measured, and
(4) The adjustment to the inducement if the business entity fails to complete the requisite activity.
(c) No inducement shall exceed a term of fifteen years.
(d) The business entity annually shall report to the City of Grandview Heights Director of Administration the data agreed to as part of the economic inducement.
(Ord. 04-32. Passed 12-8-04.)