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AG 2003 10 20
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AG 2003 10 20
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Last modified
3/3/2006 9:38:11 AM
Creation date
11/27/2017 11:42:00 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
10/20/2003
Board
Board of Commissioners
Meeting Type
Regular
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Pa~e three <br /> <br />the type of industry as a further diversification of the county's business base <br /> <br />the size and scope of the project based upon investment in site development, facilities, <br />buildings and other business infrastructure inclusive of technology <br /> <br />the diversity, quality and quantity of jobs created by a project and the availability of labor <br />inclusive of job retention and retraining oppommities <br /> <br />the relationship between workforce development and total project investment <br /> <br />the potential for future expansion of investment and employment <br /> <br />site specific issues impacting upon public infrastructure <br /> <br />actions that if pursued, stimulate development in areas of the county deemed beneficial <br /> <br />the ratio of investment in real versus 15ersonal property assets <br /> <br />the environmental impact of the project <br /> <br />issues of significant importance related to a particular project <br /> <br />1II. PROJECT QUALIFICATIONS <br />A primary intent of the INDUSTRIAL DEVELOPMENT GRANT PROGRAM is to expand and <br />diversify the county's property tax base. Minimum investment and employee wage factor criteria <br />may be established as a requirement for consideration and award of a grant for eligible projects. <br />These criteria are used as guidelines in project evaluations. They may be expanded upon or <br />added to for a specific project and incorporated in the terms of the formalized grant award <br />agreement between the participants. <br /> <br />Minimum total project investment (based upon the estimated project real and personal <br />property assessments to be confn-med by the county assessor) <br />Level 1 grant category - $ 5 million <br />Level 2 grant category - $50 million <br />Level 3 grant category- $100 million <br /> <br />Level 1 grant - a grant award based upon a project's estimated tax revenue generation <br />value, calculated to equate to approximately 75% of the value of real and personal <br />property tax revenue value anticipated to be generated by the project. The value for real <br />property investments shall be calculated based on a period of five (5) consecutive years <br />with the value of personal property investments being considered for a period of three (3) <br />consecutive years in determining value for grant calculation purposes. The beginning <br />date for grant calculations is to be the date of useful occupancy and/or production starmp. <br /> <br /> <br />
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