The following limitations shall apply as maximum incentives. Nothing herein shall require the city to provide the maximum incentive. However, all incentives shall be calculated pursuant to the following:
(A) So long as the Shelby County Fiscal Court is participating in a sharing of occupational license fees pursuant to interlocal agreement or by individual agreement, incentives shall be capped at 50% of the 50% shared by the county by the city, thus resulting in a maximum incentive of 25% to the entity.
(B) At such time, if ever, as the county is not participating in an agreement for sharing of occupational license fees within the city, then the amount of the incentive shall be capped at one half of the fees collected by the city from the entity pursuant to the interlocal agreement as of March 18, 2016.
(C) Nothing herein shall prohibit the city and the county from agreeing to an incentive exceeding amount set forth above if said amount is a result of agreement by the Shelby County Fiscal Court to share in an amount greater than that set forth in the interlocal agreement referred to herein above.
The specific incentive of an approved company shall be as set forth in the agreement. See definition of INCENTIVE for further detail.
(Ord. 2013-007, passed 6-4-2013; Am. Ord. 2020-005, passed 3-17-2020; Am. Ord. 2021-005, passed 9-7-2021)