For purposes of this subchapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ARTS AND CULTURAL DISTRICT. A developed district of public and private uses that is created pursuant to the Arts and Cultural District Act.
CULTURAL FACILITY. A facility that is owned by the state, a county, a municipality or a qualifying entity that serves the public through preserving, educating and promoting the arts and culture of a particular locale, including theaters, museums, libraries, galleries, cultural compounds, educational organizations, performing arts venues and organizations, fine arts organizations, studios and media laboratories and live-work housing facilities.
ECONOMIC DEVELOPMENT PROJECT. May also be called "project." Means the provision of direct or indirect assistance to a qualifying entity by the governing body and includes the purchase, lease, grant, construction, reconstruction, improvement or other acquisition or conveyance of land, buildings or other infrastructure; public works improvements essential to the location or expansion of a qualifying entity; payments for professional services contracts necessary for the governing body to implement a plan or project; the provision of direct loans or grants for land, buildings or infrastructure; technical assistance to cultural facilities; loan guarantees securing the cost of land, buildings or infrastructure in an amount not to exceed the revenue that may be derived from the municipal infrastructure gross receipts tax or the county infrastructure gross receipts tax; grants for public works infrastructure improvements essential to the location or expansion of a qualifying entity; grants or subsidies to cultural facilities; purchase of land for a publicly held industrial park or a publicly owned cultural facility; and the construction of a building for use by a qualifying entity.
GOVERNING BODY. The City Commission of the city.
NON-DISCLOSURE CONTRACT. A legal contract between at least 2 parties that outlines confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to by 3rd parties. It is a contract through which the parties agree not to disclose information covered by the agreement. A NDC creates a confidential relationship between the parties to protect any type of confidential and proprietary information or trade secrets. As such, an NDA protects nonpublic business information.
PERSON. An individual, corporation, association, partnership or other legal entity;
PROJECT PARTICIPATION AGREEMENT. An agreement between a qualifying entity and the county whereby the county provides assistance to an economic development project in exchange for the benefits received as set forth in this section.
QUALIFYING ENTITY. An existing or proposed corporation, limited liability company, partnership, joint venture, syndicate, association or other person that is one or a combination of 2 or more of the following:
(1) An industry for manufacturing, processing, or assembling of any mining, agricultural, or manufactured products;
(2) A commercial enterprise for storing, warehousing, distributing, or selling products of agriculture, mining or industry, but other than provided in division (5), (6) or (9) below, not including any enterprise for sale of goods or commodities at retail or for the distribution to the public of electricity, gas, water, or telephone or other services commonly classified as public utilities;
(3) A business in which all or part of the activities of the business involves the supplying of services to the general public or to government agencies or to a specific industry or customer, but, other than provided in division (5) or (9) below, not including business primarily engaged in the sale of goods or commodities at retail;
(4) An Indian nation, tribe or pueblo or a federally chartered tribal corporation;
(5) A telecommunications sales enterprise that makes the majority of its sales to persons outside of New Mexico;
(6) A facility for the direct sales by growers of agricultural products, commonly known as farmers' markets;
(7) A business that is the developer of a metropolitan redevelopment project;
(8) A cultural facility; and
(9) A retail business.
REGIONAL GOVERNMENT. Any combination of municipalities and counties that enter into a joint powers agreement to provide for economic development projects pursuant to a plan adopted by all parties to the joint powers agreement.
RETAIL BUSINESS. A business that is primarily engaged in the sale of goods or commodities at retail and that is located in a municipality with a population of 10,000 or less.
3rd PARTY. The State Economic Development Department or a local bank shall serve as a 3rd party administrator for the due diligence process and make a recommendation to governing body as to the financial feasibility of the requested project.
(Ord. 959, passed 7-28-2009; Am. Ord. 2015-991, passed 6-23-2015)