City Council Minutes 2007 01 16 - Laserfiche WebLink

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City Council Meeting Minutes January 16, 2007 Page 3 of 13 Mayor Sisk requested a City Attorney introduction. City Attorney Light read Ordinance No. 1507, Series 2007. He explained Becky Hogan of EDge Consulting SE~rvices was hired to provide economic development services for Louisville. Ms. Hogan and the Business Retention and Development Committee (BRaD) have developed a Business Assistance Program (BAP). The goal of the program is to maintain and expand existing local businesses as well as attract those businesses considering locating in Louisville. The adoption of a Business Assistance Program provides general guidelines to help prospects to be treated E~quitably through the relocation process, as well as outlines a system of accountability for both the City and the prospect business which wishes to locate within the City. Recognizing that each business may vary in the type of assistance needed and each situation may differ; staff customizes all business assistance to the needs of the company and/or situation. The purpose of adopting the Business Assistance Program is to insure the City remains competitive, consistent, and accountable. There are safeguards in the ordinance to ensure the funds are used to assist prospects in locating or expanding in the City of Louisville. The program's criteria apply to primary job recruitment and retention. Palrticipation in the Business Assistance Program will require the approval of four members of the City Council. Any owner or applicant of a newly established or proposed business, or the owner or applicant of an existing business which wishE~s to expand substantially, may apply to the City for inclusion within the BAP program, provided the new or expanded business is reasonably likely to generate enhanced or increased sales and/or use taxes. If approved, the qualifying business may retain a specific share of sales or use taxes or fees to be used for identifiable improvements as outlined in its agreement with the City. Each application shall be subject to approval by the City Council solely on its own merits. BRaD believes assistance to be important in remaining competitive in attracting and retaining quality business and development to the City. Using the criteria and procedures outlined, the City can remain competitive, consistent, and accountable, while safeguarding the funds used to assist prospects in their location decision. The second reading amendments to the ordinance are as follows: In Sec. 3.24.020 the reference to use tax was taken out, as the City does not have a use tax on personal property. In Sec. 3.24.030 the definition of "applicant" has been redefined. In Sec. 3.24.050 tile 50% cap amount has been removed pending direction from Council. In Sec. 3.24.060 the definitions has been refined with regards to public improvements. Section 3.24.090 requires the affirmative vote of four members of Council.