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<br />A. For BAP agreements utilizing enhanced sales tax incentives, payments shall be <br />made no less than mmually and no more than quarterly, as the city and applicant shall agree. For <br />such payments, the base figure (which may be stated as a percentage or fixed dollar amount) <br />shall be divided by the number of agreed-upon payments per year and adjusted for seasonal <br />variations as the parties may agree. If in any period the agreed-upon base figure is not met by <br />applicant and, thus, no enhanced sales taxes are generated for that period, then no funds shall be <br />shared with the applicant for such period and no increment shall be shared until that deficit, and <br />any other cumulative deficit, has belen met, so that at the end of any twelve-month cycle, funds in <br />excess of those enhanced sales taxes agreed to be shared shall not have been shared with any <br />applicant. <br />B. For BAP agreements utilizing fees, payments shall be made in either incremental <br />payments or a lump-sum payment as provided in the agreement approved by the city council. <br />Such payments shall be commence no earlier than issuance of a certificate of occupancy for the <br />subject location and satisfaction ofthe requirements of this chapter and of the agreement. <br />C. No interest shall be paid on any amounts shared pursuant to any BAP agreement. <br />Sec. 3.24.080. Existing tax revenue sources unaffected. <br />A. It is an overriding consideration and determination of the city council that existing <br />sources of city sales tax and fee revenues shall not be used, impaired or otherwise affected by the <br />BAP. Therefore, it is conclusively determined that only enhanced sales taxes and fees generated <br />by the properties or businesses described in an approved BAP application shall be subject to <br />division under the BAP. It shall be the affirmative duty of the finance director of the city to <br />collect and hold all such enhanced sales taxes and fees to be shared in a separate account apart <br />from the sales taxes and fees generated by and collected from other sources in the city and to <br />provide an accounting system which accomplishes the overriding purpose of this chapter. It is <br />conclusively stated by the city couneil that this chapter would not be adopted or implemented but <br />for the provision of this section. <br />B. Without limiting the foregoing subsection A of this section, it is conclusively <br />stated that there shall be excluded from the BAP and any BAP agreement all revenues from the <br />temporary three-eighths percent (%%) sales and use taxes imposed for the ten-year period <br />beginning on January 1, 2004, to be used for open space and related purposes as authorized by <br />the registered electors of the city and set forth in chapter 3.20 of this code. Such revenues shall <br />not be used, impaired or otherwise affected by the BAP. <br />Sec. 3.24.090. Criteria for approval. <br />Approval of an application for inclusion in the BAP shall require the affirmative vote of <br />four members of the city council, at a public hearing held as a portion of a regularly scheduled <br />city council meeting, based upon city council consideration of the following criteria: <br /> 4 <br />