CHAPTER 124: DOWNTOWN ECONOMIC INCENTIVES
Section
   124.01   Goals: objectives
   124.02   Definitions
   124.03   Administration
   124.04   Application review process
   124.05   Grants and incentives for downtown economic incentives
   124.06   Hotel incentives
   124.07   Restaurant incentives
   124.08   Project records and monitoring
§ 124.01 GOALS; OBJECTIVES.
   The intent of the Pikeville Downtown and Hotel/Restaurant Economic Incentives Program (hereinafter referred to as the “Program”) is to provide financial incentives and assistance to aid in the creation and retention of jobs and businesses in the city, to preserve the historic built environment of the downtown area, to help to create a vibrant, walkable downtown, attract hotels and restaurants to the City to support tourism and other organizations that would benefit from such businesses. It is the goal of the Program to be provide a broad range of incentives to various economic actors including property owners, new businesses, and existing businesses. Those incentives outlined in § 124.05 are limited to the Downtown as defined below. Hotel and restaurant incentives are outlined in §§ 124.06 and 124.07, respectively.
(Ord. O-2019-07, passed 3-11-19; Am. Ord. O-2022-21, passed 11-28-22)
§ 124.02 DEFINITIONS.
   For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
   COMMERCIAL PROPERTY. Any property located in the CBD unless the largest structure located within that property has been used as a church or single family residence more often than not since 2010.
   DOWNTOWN. The Central Business District (CBD) Zone as identified in § 156.108 and shown on the City Zoning Map as Zone C-3.
   FACADE. An individual storefront or side of a building that faces a public street or public alley with public access. Separate addresses within a single building may qualify as separate facades, but only street level addresses are eligible.
   MAIN STREET DIRECTOR. The city employee with the job title of “Main Street Director” and assigned to oversee the non-profit organization known as Pikeville Main Street Program, Inc. or, for the purposes of these incentives, any other city employee designated to that task by the City Manager.
   MAIN STREET PROGRAM. The non-profit organization known as Pikeville Main Street Program. Inc.
   PROGRAM MAIN STREET ACCOUNT. The financial account to be established by main street as directed in § 124.03(B)(2).
   REHABILITATION. The process of returning an existing structure to a state of utility through repair or alteration which makes possible an efficient contemporary use.
   TARGET BUSINESS.  Business types which are targeted for the purposes of creating a healthy mix of diverse businesses in downtown based, in part, on the businesses located in the district at any given time. These business types will be determined at least annually by the Main Street Program with approval from the City Manager.
(Ord. O-2019-07, passed 3-11-19; Am. Ord. O-2022-21, passed 11-28-22)
§ 124.03 ADMINISTRATION.
   (A)   Administration.
      (1)   The Main Street Program will administer the program under the direction of the Main Street Director. This various duties required for this administration may be done through action of the entire Main Street board or either existing or newly created committees of the Main Street Program.
      (2)   To make the Program active, the Main Street Program must enter an agreement with the City of Pikeville agreeing to the procedures and guidelines set forth in this chapter.
      (3)   The hotel/restaurant incentives program will be administered by the Director of Economic Development or any other city employee designated to that task by the City Manager.
   (B)   Financial resources available to the Program.
      (1)   The City Commission may, from time to time as it deems appropriate, allocate funds to the Program to be used to provide financial assistance to eligible business concerns through the various incentives and grants listed below. These funds shall, at all times, be discretionary city dollars with any remaining funds being transferred to the city upon the City Commission’s or City Manager’s request.
      (2)   The Main Street Program will establish a separate account for all financial transactions executed under the for the Downtown area. The Finance Director will establish a separate account for all financial transactions executed as part of the hotels/restaurant incentives outside of the downtown area.
      (3)   In general, all grants and incentives resulting in payments made to recipients from the Program account will be reimbursements. Grantees must present receipts, invoices, or other proof of payment of eligible expenses prior to reimbursement. The Main Street Program or Director of Economic Development will be responsible for maintaining these records for three (3) years. Reimbursements will be made within sixty (60) days of the presentation of appropriate documentation.
      (4)   If the Main Street Program or Director of Economic Development wishes to pay in advance for some portion of a grant other than those that reimburse for utility fees or other city services, a request may be made to the City Manager for authorization to proceed. A record of this approval must be maintained for three (3) years.
(Ord. O-2019-07, passed 3-11-19; Am. Ord. O-2022-21, passed 11-28-22)
§ 124.04 APPLICATION REVIEW PROCESS.
   Initial application. An applicant wishing to have an application reviewed for a grant or incentive will complete and submit an application to the Main Street Director or Director of Economic Development as appropriate. Applications may also be submitted to the City Clerk who will forward the application to the Main Street Director or Director of Economic Development.
   (A)   The Main Street Director or Director of Economic Development will perform a preliminary review of the document to assure that the nature of the project and the business are each eligible under the terms of the program and have produced the required documentation established by the Program. The applicant will be notified of any deficiencies in the application.
   (B)   The Main Street Director or Director of Economic Development will then review which grants or incentives are being requested and will verify that there are adequate resources budgeted to meet at least some of the request.
   (C)   The Main Street Director will evaluate the application and will present a recommendation regarding the disposition of the application at the next scheduled meeting of the Main Street Program Board for all downtown incentives. The Director of Economic Development will present recommendations to the City Manager.
   (D)   The Main Street Director will evaluate the application and review recommendations at the next scheduled meeting of the Main Street Program Board. The Board will make a determination as to whether an application will be provisionally accepted or will be denied. The applicant will be notified of this decision within ninety (90) days. An applicant submitting applications which are not accepted by the Board in whole or in part will be advised of the Board’s action and advised of any deficiencies in the application.
   (E)   Applicants for downtown incentives whose application is denied may appeal the decision to the City Manager. The results of any such appeal will be honored by the Main Street Program.
   (F)   The Main Street Program may issue final approvals to any provisionally approved application or to that portion of an application that was provisionally approved once sufficient funds have been placed into the Incentive Account by the City and the applicant enters into a binding agreement with the Board accepting the terms and conditions of the grant. This may occur during the same meeting as provisional approval was granted or at any subsequent meeting subject to the following restrictions:
      (1)   In general, processing at all stages up to and including final approval shall be done on a first-come, first-serve basis.
      (2)   An application which was provisionally approved for multiple grants or programs will not be given final approval for a subset of the grants or programs that have been provisionally approved. If such an application is the next to be funded, no additional final approvals will be issued of the types applied for before the subject application is completely funded.
      (3)   Applications submitted are valid for one year from the date of submittal. It is the responsibility of the applicant to resubmit prior to this expiration date.
      (4)   Finally approved applications may be revoked if the applicant does not comply with any requirements, refuses to enter into any agreements deemed necessary by the terms of this program, or if it is determined by the Board that they no longer meet any of the conditions of the grant.
(Ord. O-2019-07, passed 3-11-19; Am. Ord. O-2022-21, passed 11-28-22)
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