AG 2007 06 18 - Laserfiche WebLink

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