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<br />Chapter 3.24 TAX AND FEE BUSINESS ASSISTANCE PROGRAM <br /> <br />PagelofS <br /> <br />Chapter 3.24 TAX AND FEE BUSINESS ASSISTANCE PROGRAM <br />Sec. 3.24.010. Established. <br />Sec 3.24.020. Purpose. <br />Sec. 3.24030. Definitions. <br />Sec. 3.24.040, Basis for participation. <br />Sec. 3.24.050, Approval of agreement; conditions; effect. <br />Sec,324.060. Permitted useoffunds. <br />Sec. 3.2<1.070. BAP payments. <br />Sec. 3.24080._Existing tax revenue sources unaffected. <br />Sec. 3.24.090. Criteria for approval. <br />Sec. 3.24.100. Agreement with city; required; contents. <br />Sec. 3.24110. Findings. <br /> <br />Sec. 3.24.010. Established. <br />There is established within the city a Tax and Fee Business Assistance Program ("BAP"). <br />(Ord. No. 1507-2007, S 1, 1-16-2007) <br /> <br />Sec. 3.24.020. Purpose. <br /> <br />The purpose of the BAP created by this chapter is to encourage the recruitment, retention, <br />establishment and/or substantial expansion of sales tax generating businesses and employers within <br />the city, thereby stimulating the economy of and within the city, providing employment for residents of <br />the city and others, further expanding the goods and services available for purchase and consumption <br />by businesses and residents of the city, and further increasing the sales taxes and fees collected by the <br />city, which increased sales tax and fee collections will enable the city to provide expanded and <br />improved municipal services to and for the benefit of the residents of the city, while at the same time <br />providing public or public-related improvements at no cost, or at deferred cost, to the city and its <br />taxpayers and residents. <br /> <br />(Ord. No. 1507-2007, S 1, 1-16-2007) <br /> <br />Sec. 3.24.030. Definitions. <br /> <br />As used in this chapter and all sections thereof, the following phrases shall have the following <br />meanings: <br /> <br />Applicant means the owner(s) of real property upon which a business is operated or proposed, <br />or the operator of a business located or proposed to be located within the city. <br /> <br />Enhanced sales tax means the amount of sales tax collected by the city over and above a base <br />amount negotiated by, and agreed upon by, the applicant and the city, and which amount is approved <br />by the city council, which base amount shall never be lower than the amount of sales taxes collected by <br />the city at the property in question in the previous 12 months--or, in the case of a vacancy, the last 12 <br />months of operation--plus a reasonable and agreed upon percentage of anticipated increase in sales <br />taxes, or, in the case of a newly established business, an amount which represents the good-faith <br />determination by the applicant and the city as to the amount of sales taxes which could be generated <br />from the new business without the participation by the applicant in the BAP created under this chapter. <br /> <br />Fees means the amount of building permit fees and construction use taxes collected by the city <br />during the construction permitting process for initial construction of a project participating in the SAP <br />created under this chapter. <br /> <br />http://lihrary2.lllllnicode.colll/defalllt-test/DocView/ 1.6149/ 1 /4(,"hi litc=bllsincss assistance: <br /> <br />2/22/20 I 0 <br />