Ordinance 2007-1507 - Laserfiche WebLink

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Sec. 3.24.010. Established. There is established within the city a Tax and Fee Business Assistance Program ("BAP"). Sec. 3.24.020. Purpose. The purpose of the BAP created by this chapter is to encourage the recruitment, retention, establishment and/or substantial expansion of sales tax generating businesses and employers within the city, thereby stimulating the economy of and within the city, providing employment for residents of the city and others, further expanding the goods and services available for purchase and consumption by businesses and residents of the city, and further increasing the sales taxes and fees collected by the city, which increased sales tax and fee collections will enable the city to provide expanded and improved municipal services to and for the benefit of the residents of the city, while at the same time providing public or public-related improvements at no cost, or at deferred cost, to the city and its taxpayers and residents. 3.24.030. Definitions. As used in this chapter and all sections thereof, the following phrases shall have the following meanings: Applicant means the owner(s) of real property upon which a business is operated or proposed, or the operator of a business located or proposed to be located within the city. Enhanced sales tax means the amount of sales tax collected by the city over and above a base amount negotiated by, and agr'eed upon by, the applicant and the city, and which amount is approved by the city council, which base amount shall never be lower than the amount of sales taxes collected by the city at the property in question in the previous twelve (12) months-or, in the case of a vacancy, the last twelve (12) months of operation-plus a reasonable and agreed upon percentage of anticipated increase in sales taxes, or, in the case of a newly established business, an amount which represents the good-faith determination by the applicant and the city as to the amount of sales taxes which could be generated from the new business without the participation by the applicant in the BAP created under this chapter. Fees means the amount of building permit fees and construction use taxes collected by the city during the construction permitting process for initial construction of a project participating in the BAP created under this chapter. Operator means the owner or potential owner of a business that is eligible for inclusion in the BAP created by this chapter. Owner means the record ovvner or potential record owner of real property upon which one (1) or more business is operated. Sec. 3.24.040. Basis for participation. 2