Local governments are allowed to provide direct or indirect assistance to qualifying businesses for furthering or implementing economic development plans and projects. Furthermore, local and regional governments have the authority to contribute assets to development projects; however, the imposition of a tax must be approved by the voters in referendum.
A. Eligible Uses: Municipalities may impose Municipal Infrastructure Gross Receipts Tax and dedicate the revenue for economic development projects. A total of 0.25 percent tax (in 4 increments of 0.0625 percent) may be imposed. (Ord. 343 § 3.2, 2007)