To increase funds for the purposes of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements of the City, there is hereby created the “Lima New Jobs Program” to provide a specific cash Incentive Payment to any business or owner or developer of real property located within the City that establishes a "Qualifying New Payroll" equal to a minimum of $200,000 up to a maximum of $4 million for new jobs created in the City of Lima, or in the City of Lima Central Business District. To the extent a property owner, developer or business establishes a Qualifying New Payroll in excess of $4 million, the City may negotiate a different Incentive Payment individually with such business or property owner or developer.
(Ord. 025-06. Passed 1-23-06; Ord. 109-13. Passed 5-20-13.)