AG 2007 06 18 - Laserfiche WebLink

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,, , . . with the value of personal property investments being considered for a period of three (3) consecutive years in determining value for grant calculation purposes. The beginning date for grant calculatio~ls is to be the date of useful occupancy and/or production startup. Corporate headquarters is definod as the location of the center ofthe company's opezations including the main offices for its managoment and administrative officers. Level 1 grant - a grant award based upon a projecYs estimated tax revenue goneration value, calculated to equate to approximately 65% of the value of teal and personal property tax` , revenue value anticip'ated to be genareted by the project. Tho value for reat property investments shall be calculated bassd on a pariod of four (4) consecutive yeazs with the value of personal property investments being considered for a period of three (3) consecutivo yeazs in determining value for grant calculation purposes, The beginning date for grant catcnlations is to be the date of useful occupancy and/or production startup. Lavel 2 grant - a grant award based upon a projecYs estimated tax revenue generation value, to be calculated to equate to approximaCely 70% of the value of real and parsonal property tax revenue value anticipated to ba generated by the project. The value for real property investments shall be calculated based on a geriod of four (4} consecutive yeazs with the value of personal property investments being considered for a period of three (3) . consecutive years in determining value for grant calculation purposes. The beginning datc for grant calculations is to be tkia date of useful occupancy az~d/or production staRup. Level 3 grant - a~ant award based upon the project's estimated tax revenue generation value, to be calculated to equate to approximately 75% of the value of ieal and personal property tax revenue value anticipated to be generated by the project, The.value for real property investments shall be calculated based on a period of four (4) consecutive yeata with the value of personal. property investments being considorod for a period o£ three (3) consecutive years in determining value for grant calculation purposes. The beginning date for grant calculationa is to be the date of useful ocoupancy and/or production startup, Corporate Headquartors Facility Lease Provision. - Projocts meeting all of the critaria requiied for one of the grant level catagorias notad above, but involving.tha lease of a new building to be constructed for a corporate headquarters rather than direct ownership, may be grant eligibte under oerEain conditions. In such instances, the owner of the building to be , constructed shall be responsible for providing documentadon showing the estimatod new tax revenue goneration value for the building and pormanent Fixtures, plus any eligible new personal property of the lessee Shat will generate ta~c revenue: The owner shall also be raqu'ued to provide a copy of the proposed lease with the prospective company that demonstrates it is at lqast five (5) years in length. If a grant is awarded, it will tie conditioned upon tho owner of the building and tha cott~pany executing the loase that the~building(s) will house the contor of the company's operations including the main officas for its management and administrative officors durin~ the grant pariod. Agreements executed using this provision shall normally be with the tenant but based on the value of the building since it will be the primary permsnent gonerator of new tax reveaue. The building ownar may ba the recipient -4- ~~~