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AG 2007 06 18
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AG 2007 06 18
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Last modified
9/26/2007 2:40:23 PM
Creation date
11/27/2017 11:30:53 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/26/2007
Board
Board of Commissioners
Meeting Type
Regular
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'' revenues; permit and fee revenues, sales and service fee rovenues, financing sources; interest <br />~ earnings and othor miscellaneous revenues. Other than as established by applicable t'ederal or state <br />law, rovenues have no dadicatad expenditure purpose, <br />The fiscal impact of a proj act coutd be evaluated using methods to include employment data, wages <br />and benefits, secondary job creation; business spin-offs and relafed factors. Those methods could <br />produce a more favorable view of a project's rogional fiscal impact. Workforce mobility and the <br />ability of economic decisions to transverso governmental units make those factors unreliable in <br />measuring direct local financial impacts. Bmphasis on those factors could lead to inflated estimates . <br />of a project's value and less certain cost-benefit based incentive decisions, <br />The intent of the INDUSTRJAL DSVELOPMENT GRANT PROGRAM is that the County will see <br />a positive financial benefit associated ~vith each projoct. Economic development incentive prograams <br />elsewhere have seen significant public financisl irlvastmants by local goyemments Committed to on <br />the front-end of a project go unracovered in benefits (either in directly attributed financial retums <br />or in the crestion of newar higher paying jobs). <br />The INDUSTRIAL DEVELOPMBNT GRANT PROGRAM is designed to ensure that the county <br />- and participating municipalities see increases in. property tax assassment base and other local <br />government revenue rosotuces in excess of gants awarded: <br />Grants shall not ezceed five years in poriod of award and any one •grant award period must be <br />completed not later than sevcn years aftor inidal awazd to allow for construction and production <br />start-up time. An extenaion to these limits rnay be granted basod upon apecific projectrelstad isauos, <br />but is not guaranteed or requirad. <br />The formal agresment between the parties (grant recipient, cities and oounty) shall attcmpt to <br />specifically identify datea for purposes af establishing the appmpriate time period(s)-that a grant w+ill <br />be in effect. Datos to bo established will includa consideration of the date of award, a date for thc <br />' beginning of construction, ptoduction start-up date and the dates for the boginning and.ending of the . <br />incentive gcant awazds, <br />Each pro}ect will be dealt with on an individual baais using theae guidelines and other dizectives <br />authorizad 6y the Cabamis County Commisaion. Theae guidolines a;e subject to qhango and will <br />be reviawad routinoly from date of adoption, the County.Commission roquiring it. <br />Changing economic conditions, legal iseues or other fectors may cause thc County Commiesion <br />to modify, amend, suspend or ternunate Che II~iDUSTRIAL DEVELOPMENT GRANT PROGRAM <br />subjact to contracted grants previously awardad and in effect at that tima. <br />Although, increasing and diversifying the local property tax assesament baso ara the primary <br />initiatkves of this INDUSTRIA3. DLVELOPMENT GRP.NT PROGRAM, sovcral othar factors may <br />be considered in authorizing a grant to any specifio project, These may include but are not limited <br />to: <br />_2-' . <br />~'~ <br />
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