§ 117.02  TYPES OF INCENTIVES.
   (A)   The following job creation based economic development incentives may be offered by the city to a qualifying business undertaking an economic development project.
 
1 – 50 new employees
100% rebate of the payroll tax due for new employees for the first year and two-thirds rebate for the following two years; and 100% rebate of the net profit tax due for two years.
51 – 100 new employees
100% rebate of the payroll tax due for new employees for the first year and two-thirds rebate for the following four years; and 100% rebate of the net profit tax due for four years.
101 or more new employees
75% rebate of the payroll tax due for new employees for eight years; and 100% rebate of the net profit tax due for eight years.
 
   (B)   The following economic development incentives may be offered by the city to new or existing businesses.
 
Reduction of water connection fees
1 – 25 full-time employees: 50% fee reduction
26 – 50 full-time employees: 75% fee reduction
Over 50 full-time employees: no connection fee
Reduction of sewer connection fee
1 – 25 full-time employees: 50% fee reduction
26 – 50 full-time employees: 75% fee reduction
Over 50 full-time employees: no connection fee
Waiver of building permit fees
1 – 50 full-time employees: 50% fee reduction
51+ full-time employees: 75% fee reduction
 
   (C)   Additional incentives:
      (1)   May be approved by the Mayor and the City Council on a case-by-case basis; and
      (2)   Additional incentives regarding water and/or sewer service shall be approved by the city’s Water and Sewer Commission.
(Ord. 220.29, passed 3-11-2021)