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in enhanced sales taxes and fees derived from the applicant's property or business
<br />in an amount which shall not exceed that amount specified in the agreement
<br />required by section 3.24.100; provided, however, that the applicant may use said
<br />amounts only for public or public -related improvements such as those specified in
<br />section 3.24.060 and which are expressly approved by the City Council at the time
<br />of consideration of the application. The time period in which said enhanced sales
<br />taxes or fees may be shared shall not commence until all public or public -related
<br />improvements are completed and meet City standards, and shall be limited lihe
<br />City Council, in its discretion, to a specified time set forth in the agreement, which
<br />shall not exceed ten years, or until a specified maximum amount is reached.
<br />Sec. 3.24.060. Permitted use of funds.
<br />A. The uses to which said shared enhanced sales taxes or fees may be
<br />put by an applicant shall be strictly limited to obligations and/or improvements
<br />which are public or public -related in nature, and which are specifically identified
<br />as eligible for BAP funding as part of the agreement required by section 3.24.100
<br />and which, if required by the City, are subject to a subdivision agreement or
<br />development agreement executed pursuant to, respectively, section 16.12.100 or
<br />section 17.28.260 of this code.
<br />B. By way of example and not limitation, eligible obligations and
<br />improvements which are public or public -related in nature include streets,
<br />sidewalks, curbs, gutters, pedestrian malls, street lights, drainage facilities,
<br />landscaping, decorative structures, redevelopment of existing properties,
<br />occupancy of existing vacant space, expansion or creation of jobs in the City, public
<br />art, fountains, identification and other signs, traffic safety devices, bicycle paths,
<br />off-street parking facilities, benches, restrooms, information booths, public meeting
<br />facilities, and all necessary, incidental, building facades, architectural
<br />enhancements, and appurtenant structures and improvements, together with the
<br />relocation, extension, undergrounding or improvement of existing utility lines, and
<br />any other improvements of a similar nature which are specifically approved by the
<br />City Council.
<br />C. Nothing in this chapter shall limit the City Council from
<br />appropriating additional capital improvement funds for capital improvements
<br />directly or indirectly affecting the property in question as a part of the City's regular
<br />appropriation, capital improvement, or budget process.
<br />Sec. 3.24.070. BAP payments.
<br />A. For BAP agreements utilizing enhanced sales tax incentives,
<br />payments shall be made no less than annually and no more than quarterly, as the
<br />City and applicant shall agree. For such payments, the base figure (which may be
<br />stated as a percentage or fixed dollar amount) shall be divided by the number of
<br />agreed -upon payments per year and adjusted for seasonal variations as the parties
<br />Ordinance No. 1822, Series 2021
<br />Page 3 of 9
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