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C. The time period for enhanced assistance shall be limited to a <br />specified time set forth in the agreement or until a specified maximum <br />amount is reached. <br />Sec. 3.25.060. EAP payments. <br />A. Enhanced assistance payments shall be made no less than <br />annually and no more than quarterly, as the City and applicant shall agree. <br />B. Payments under this section shall commence no earlier than <br />issuance of a certificate of occupancy or completion of a qualified expansion <br />for the subject location and satisfaction of the requirements of this chapter <br />and of the agreement. <br />C. No interest shall be paid on any enhanced assistance amounts. <br />Sec. 3.25.070. Criteria for approval. <br />Approval of an application for EAP incentives totaling $50,000.00 or <br />more shall require the affirmative vote of four members of the City Council. <br />Incentives totaling less than $50,000.00 may be approved, and the <br />agreement required by section 3.25.080 may be executed, by the City <br />Manager. Whether approved by City Council or the City Manager, the <br />decision to approve an EAP application shall be based upon consideration <br />of the following criteria: <br />A. The applicant's total investment in its Louisville operation, <br />including the cost of construction, expansion, and hiring; <br />B. The total number of jobs created over the five year period <br />immediately following commencement of the capital intensive targeted <br />business's operation in Louisville; <br />C. The average annual wage of the capital intensive targeted <br />business's employees; <br />D. The quality of the proposed development; <br />E. Whether the proposal complements existing Louisville <br />businesses (i.e. a buyer or supplier that serves an existing business in the <br />City); <br />F. Whether the proposal represents job diversity in industry <br />sectors and is part of a growing industry; <br />Ordinance No. 1888, Series 2024 <br />Page 5 of 8 <br />