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<br /> <br /> <br /> <br /> <br />SUBJECT: BUSINESS ASSISTANCE PROGRAM DISCUSSION <br /> <br />DATE: AUGUST 5, 2013 PAGE 3 OF 5 <br />sales tax for open space purposes and the one-eighth sales tax for historic preservation <br />purposes hall not be used, impaired or otherwise affected by a BAP agreement. <br /> <br />Criteria for approval <br />City Council, when considering a BAP agreement, will use the following criteria for <br />approval; <br />A. The amount of enhanced sales taxes which are reasonably to be anticipated to be <br />derived by the city—whether by retention of taxes, creation of new taxes, or a <br />combination thereof—through the expanded or new retail sales tax generating <br />business; <br />B. The public benefits which are provided by the applicant through public works, public <br />or public-related improvements, additional and/or retained jobs and employment <br />opportunities for city residents and others, etc.; <br />C. The quality of the proposed development; <br />D. Whether the proposal utilizes an existing building(s); <br />E. Whether the proposal complements existing Louisville businesses (i.e. a buyer or <br />supplier that serves an existing business in the city); <br />F. Whether the proposal represents redevelopment to an area or building in the city; <br />G. Whether the proposal represents job diversity in industry sectors and is part of a <br />growing industry; <br />H. The proposal's contribution to the diversity of retail or to the diversity of jobs or <br />employment opportunities within the city; <br />I. Whether the proposal brings a value added result to the city or a development <br />within the city (for example, by moving the company's corporate headquarters to the <br />city); <br />J. The amount of the business assistance as a percentage of new revenue anticipated <br />to be created by the proposal (for example, by relocation the company to Louisville); <br />K. The amount of expenditures which may be deferred by the city based upon public or <br />public-related improvements to be completed by the applicant; <br />L. The conformance of the applicant's property or project with the comprehensive plan <br />and zoning ordinances of the city; and <br />M. Whether a proposed agreement required by section 3.24.100 has been reached, <br />which agreement shall contain and conform to all requirements of said section <br />3.24.100 <br />Required Contents of a BAP Agreement <br />An agreement must be executed between the business and the City. The agreement <br />shall contain the following; <br />8