No refund may be made unless:
(a) The project includes new construction that adds at least $5,000,000 in taxable value to the city’s property tax base, or an investment in non-realty capital assets of not less than $10,000,000, or if the combination of new construction and non-realty capital assets exceeds $10,000,000;
(b) The facility is used directly in:
A. The manufacture or processing or fabricating or compounding of personal property which is intended to be sold or leased for final use consumption;
B. Data processing, hosting and related services including payroll services, financial transactions processing as those terms are defined by 2002 NAICS; or
C. Research and development in the:
1. Social sciences;
2. Humanities; and
3. Physical, engineering and life sciences as those terms are defined by 2002 NAICS.
(c) The person makes application for the refund from the finance director as set forth in § 37.169; and
(d) The project is not ineligible under § 37.168.
(1992 Code, § 39-174) (Ord. 42-05, passed 4-18-2005; Ord. 60-07, passed 5-7-2007)