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<br />City of Louisville <br /> <br />Business Assistance Program <br /> <br />.!...-Discussions occur with the prospective business concerning any specific <br />assistance needed in the early phases of the development <br />Llf the business assistance invOives chanoes to the exterior of any buildino 50 <br />years or older deemed by the City Council to have historical sionificance, the <br />buildino will be subiect to the Historic Preservation Commission review' <br />. A Business Assistance Request Form (Copy Attached) is sent to the company for <br />completion prior to a decision to locate in the City or to undertake substantial <br />expansion (in the case of an existing business) <br />. The data from the business assistance form is analyzed by staff and a <br />preliminary recommendation is made to the City Manager requesting assistance <br />based upon income generation to the City, number of jobs, average salaries, job <br />diversity, what direct and indirect benefits this company may bring to the City of <br />Louisville, and consideration of the other criteria above. <br />. Business Assistance may be in the form of building permit fee rebates, <br />construction use tax rebates, and sales tax rebates (if applicable). All rebates will <br />be based upon new dollars generated by the project at move-in and/or over the <br />first 5 years of operation. <br />. Any sales tax business assistance is calculated on the City's 3.375% less the <br />City's open space tax of .375%, unless the City considers a lesser amount to be <br />appropriate. <br />.!...-Following City Manager approval of an assistance offer, staff may follow either a <br />one-step or two-step process. <br />o One Step: If the company aorees to use their name publicly, then staff <br />prepares a business assistance aoreement for formal Council <br />consideration durino a public meetino, or <br />.0 TwoStep: If the company needs to remain confidential. then staff <br />schedules a presentation before City Council to seek policy direction. <br />..2..Jf Council's response is positive, staff prepares a letter to the project <br />stating that the City is willing to offer a business assistance pendino <br />formal approval by City Council. <br />.2- The company may go public with their announcement to relocate to the <br />City or to substantially expand within the City. <br />.2- Timed with the company's project nearing completion in the planning <br />and/or building phase, staff recommends formal adoption of the business <br />assistance. The timing of the formal adoption is used to ensure that the <br />company has met the planning and development guidelines as outlined <br />by the City. <br />.2-At the time of formal adoption of the business assistance, Council <br />authorizes the City Manager to fund and implement the Business <br />Assistance Agreement. The agreement must be fully signed prior to any <br />assistance. <br />. City staff monitors the completion of the agreement and makes sure all <br />requirements of the agreement are met. Company provide assistance and <br />information is needed to carry out the agreement. <br /> <br />Conclusion <br /> <br />The vast majority of businesses that locate to the City of Louisville do so without a formal <br />business assistance offer. There are also other forms of assistance the prospect may <br /> <br />- 2 - <br />6 <br />