Business Retention Grant payments are based upon the business's payroll tax as reported to the City of Stow Finance Department. Payments will be made within sixty (60) days of receiving the documentation required in Section 198.05
if the business satisfied the retained payroll commitment for the preceding calendar year. If the business fails to meet the agreed upon annual retained payroll commitment for a single year of the agreement, the Finance Director shall withhold the agreed upon grant payment for the deficient year. If the business fails to meet the agreed upon retained payroll levels for two consecutive years, the Finance Director shall withhold payment for all deficient years and refer the agreement to Stow City Council for early termination.
(Ord. 2015-40. Passed 3-12-15.)