§ 159.504. Eligibility.

(A)

To be eligible for an economic development impact fee waiver, an Applicant must meet the following requirements:

(1)

Qualify as a Qualified Target Industry Business and create a minimum of ten new jobs or a ten percent increase in existing employment (whichever is greater) with an average private sector wage (excluding benefits) of at least 107 percent of the City's average private sector wage (excluding the top two executive salaries) and provide a benefit package that includes health insurance and remain in the City for a minimum of ten years; or

(2)

Qualify as a Qualified Target Industry Business and create a minimum of ten new jobs or a ten percent increase in existing employment (whichever is greater) with an average private sector wage (excluding benefits) of 100 percent of the City's average private sector wage (excluding the top two executive salaries) and make a capital investment in the City of $10,000,000.00 or greater in construction, renovations, equipment purchases, or other major capital investment items and remain in the City for a minimum of ten years; or

(3)

Qualify as a Locally Owned and Operated Small Business and create a minimum of ten new jobs with an average private sector wage (excluding benefits) of 100 percent of the City's average private sector wage (excluding the top two executive salaries) and provide a benefit package that includes health insurance and remain in the City for a minimum of ten years; and

(4)

Enter into an agreement with the City wherein the Applicant agrees to locate or expand its business operations to/within the City for a period of at least ten years. The agreement will also require the Applicant to provide the City with the Applicant's quarterly report (UCT-6) and all other documentation to demonstrate that the job creation and salary level commitments were achieved. Provisions for repayment or suspension of payments for nonperformance related to this program shall be clearly established in the agreement.

(Ord. No. 17-80, § 2, 11-27-17)