Benefitted owners/businesses are required to provide evidence documenting payroll and employment commitments. This information will be provided by submission of federal W-2's and a City of Stow W-3 for the covered facility. These forms will be reviewed by the City of Stow Tax Incentive Review Council at their annual meeting. The Tax Incentive Review Council will make a recommendation to the Mayor and Council regarding the continuance or discontinuance of each City of Stow Income Tax Grant Program. An annual monitoring agreement fee of two hundred fifty dollars ($250.00) will be charged any owner/business receiving benefits under this program. The annual monitoring fee will be used to offset costs associated with program administration and expenses related to the Tax Incentive Review Council.
(Ord. 2013-189. Passed 12-12-13.)