For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
"BOARD." The Kokomo Board of Public Works and Safety.
"CITY." The City of Kokomo, Indiana.
"DEPARTMENT." The Department of Development of the city.
"DOWNTOWN." As used in this subchapter, means the following geographic areas:
(1) The area bound by Jefferson Street to the north, Apperson Way to the east, Wildcat Creek to the south and Washington Street to the west; or
(2) The area bound by Wildcat Creek to the north, Union Street to the east, Markland Avenue to the south and Main Street to the west.
"ELIGIBLE ACCOUNTS RECEIVABLE." As used in this subchapter, means:
(1) Monies owed to an existing primary sector business;
(2) Which are outstanding for at least 60 days; and
(3) Are owed by an entity that has been consistent in its payments to the applying existing primary business over a course of two years.
"LOCAL COMPANY." As used in this subchapter, means:
(1) Any corporation, limited liability company, limited liability partnership, sole proprietor or any other business organization licensed to do business in the State of Indiana; and
(2) Which is located within the corporate boundaries of the city.
"LOCALLY OWNED COMPANY." As used in this subchapter, means:
(1) Any entity fitting the definition of a “LOCAL COMPANY” as prescribed in this subchapter; and
(2) Which is owned or controlled by an individual who resides within the boundaries of Howard County, Indiana.
(Ord. 6578, passed 4-27-09)