(A) It is the policy of the town not to offer financial incentives for economic development projects that involve the relocation of a business from another in-state jurisdiction to the town. The town’s decision to offer financial incentives to relocate an economic development project from another in-state jurisdiction to the town will be based on the following:
(1) A letter or other written documentation from the jurisdiction where the business is currently located that it has exhausted all resources available to keep the business in such jurisdiction;
(2) The business has exhausted its efforts to reach an agreement with the jurisdiction in which it is located; and
(3) The business has provided the town with a written financial incentive package from another state to relocate to another state and such relocation of said business would be detrimental to the town, the region, and the state in terms of the loss of capital investment and/or jobs.
(B) This policy is not intended to apply with respect to an expansion of an existing state industry or business seeking to expand to an additional location, but is only applicable with respect to a complete relocation of a state industry or business.
(C) These are the guidelines adopted by the Town Council, and as guidelines the Town Council reserves the right to make exceptions based upon applicants appearing before the Town Council to explain in detail why its project should be considered for abatement.
(Res. 2007-5, passed 2-20-2007)