Business Retention and Development Committee Agenda and Packet 2013 08 05

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SUBJECT: BUSINESS ASSISTANCE PROGRAM DISCUSSION DATE: AUGUST 5, 2013 PAGE2 OF 5 The shared taxes or fees shall be strictly limited to obligations and/or improvements which are public or public-related in nature. Examples of improvements which are public or public-related include;  streets,  sidewalks,  curbs,  gutters,  pedestrian malls,  street lights,  drainage facilities,  landscaping,  decorative structures,  redevelopment of existing properties,  occupancy of existing vacant space,  expansion or creation of jobs in the city,  public art,  fountains,  identification signs,  traffic safety devices,  bicycle paths,  off-street parking facilities,  benches, restrooms,  information booths,  public meeting facilities, and  all necessary, incidental, building facades, architectural enhancements, and appurtenant structures and improvements, together with the relocation, extension, undergrounding or improvement of existing utility lines, and  any other improvements of a similar nature which are specifically approved by the city council. BAP Payments Payments shall be made no less than annually and no more than quarterly. For agreements utilizing fee rebates, payments shall be made in either incremental payments or a lump-sum payment as provided in the agreement approved by the city council. Such payments shall commence no earlier than issuance of a certificate of occupancy for the subject location. No interest shall be paid on any amounts shared with any BAP agreement. Existing Tax Revenue Sources Existing sources of city sales tax and fee revenues shall not be used, impaired or otherwise affected by the BAP. Only enhanced sales taxes and fees generated by the business are eligible under a BAP agreement. The temporary three-eighths percent 7