(a) The city may consider rate incentives for new upgrade/changeover commercial or industrial customers subject to each of the following criteria:
(1) An annual usage of at least 250,000 KWH shall be maintained;
(2) (A) The assessed valuation of the customer’s property shall have increased by at least $50,000 at the time of the new or upgrade/changeover service.
(B) This increase shall be computed from actual costs paid for property and improvements, and shall be verified by the city with the County Appraiser’s Office one year after the business expansion or start-up in the city’s electric service area.
(3) (A) At least five full-time equivalent (2,000 hours/year) jobs must be created as a result of the new or upgrade/changeover service. The hours of part-time temporary employees may be consolidated to obtain a full-time equivalent of 2,000 hours. Creation of new jobs shall mean an increase in the employment capacity of a business. For businesses relocating within the electric service area, only new jobs added after the relocation shall qualify the business for the incentives.
(B) Job creation and employee hours shall be verified with payroll records or certified statements from payroll records, provided by the customer annually after the business expansion or start-up in the city’s electric service area over the five-year period.
(b) The electric rate incentives shall be based on a five year period with a declining percentage of billing credit, as follows:
Year | Percent Reduction In Monthly KWH Charge |
1 | 25 |
2 | 20 |
3 | 15 |
4 | 10 |
5 | 5 |
6 | 0 |
(Ord. 1181, passed - -)