(a) Applications for the Economic Development Grant Programs must be made to the City of Tallmadge on forms available from the Economic Developer's office. Initial discussions with prospective applicants will be held in confidence. Should the applicant wish to proceed, information will be forwarded to the City Council for consideration and information contained in the application shall become public information.
(b) Businesses new to Tallmadge must apply by December 31 of the calendar year in which the business relocates or commences operations in the City. Such date shall be determined by the date of issuance of an occupancy permit.
(c) The application must set the date and the number of jobs that will be created.
(d) The applications shall be processed by the Economic Developer, subject to the authority of the Mayor to enter into contracts for the grant payment.
(e) Upon acceptance of a grant application, the Director of Law shall prepare a draft agreement and legislation for Council consideration and approval.
(f) The Finance Director shall determine the annual payroll for the “base line” to be used in the determination of the jobs creation payroll.
(g) The amount of new tax dollars must be determined in order to fix the amount of the annual payment.
(Ord. 86-2019. Passed 11-14-19.)