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SUBJECT: <br />INCENTIVE IDEAS <br />DATE: <br />SEPTEMBER 4, 2024 <br />PAGE4OF4 <br />programs include things like CHIPS Zone, Enterprise Zone, Main Street Designation, <br />industry hubs and more. These programs can be designations that the city applies for <br />(we are not eligible for all of them) and in turn, the businesses within those areas <br />receive additional support, tax credits and grant opportunities that they can be eligible to <br />participate in. <br />Applications to these programs are most often led by the City with partner and business <br />support. The City will not be eligible for all programs and will need to determine which <br />ones, if any, they would like to apply for. This would predominantly consist of staff time <br />and a potential for small amounts of funding for the application process and review. <br />Staff is interested in hearing feedback about these high level ideas and getting <br />additional input from the EVC on which incentive programs, if any, staff should further <br />explore. <br />FISCAL IMPACT: <br />Current City of Louisville incentives are all rebate based, they are rebated back to the <br />business from new funds generated by the project. Depending on the type of incentive, <br />there could potentially be a need to budget from the general fund or elsewhere to bring <br />the incentive program to fruition. In addition, depending on the type of incentive, there <br />could be an impact to the general fund in terms of not collected sales tax or completely <br />rebated incentives. <br />RECOMMENDATION: <br />Staff recommends EVC review and provide feedback. <br />ATTACHMENT(S): <br />1. None. <br />CITY COUNCIL COMMUNICATION <br />