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Page four <br /> <br />real property investments shall be calculated based on a period of fora' (4) consecutive years <br />with the value oI' personal property investments'beina considered for a period o1' three (3) <br />consecutive years in deten'nining value for grant calculation purposes. The beginning date <br />for ~'ant calculations is to be the date of usefi.d occupancy and/or production startup. <br />Corporate headquarters is defined as the location of the center of the company's operations <br />including the main offices for its management and administrative officers. <br /> <br />Level 1 grant - a grant award based upon a project's estimated tax revenue generation value, <br />calculated to equate to approximately :;z-565% of the value of real and personal property tax <br />revenue value anticipated to be generated by the project. The value for real property <br />investments shall be calculated based on a period of~}~e-lbur (54) consecutive years with the <br />value of personal property investments being considered for a period of three (3) consecutive <br />years in determining value for grant calculation purposes. The beginning date for grant <br />calculations is to be the date of useful occupancy and/or production startup. <br /> <br /> Level 2 grant - a grant award based upon a project's estimated tax revenue generation <br /> value, to be calculated to equate to approximately 8070% 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 four (.-54) 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 startup. <br /> <br />Level 3 grant - a grant award based upon the project's estimated tax revenue generation <br />value, to be calculated to equate to approximately 8-575% 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 ~,-v~-four (54) 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 date <br />for grant calculations is to be the date of useful occupancy and/or production startup. <br /> <br />Corporate Headquarters Facility Lease Provision - Projects meeting all of the criteria <br />required for one of the grant level categories noted above, but involving the lease of a new <br />building to be constructed tbr a corporate headquarters rather than direct ownersl'fip, may be <br />grant eligible under certain conditions. In such instances, the owner of the building to be <br />constructed shall be responsible for providing documentation showing the estimated new tax <br />revenue generation value fbr the building and permanent fixtures, plus troy eligible new <br />personal propert,v of the lessee that will generate tax revenue. The owner shall also be <br />required to provid,e a copy of the proposed lease with the prospective compm]y that <br />demonstrates it is at least five (5) years in length, ifa ~ant is awarded, it will be conditioned <br />upon the owner of the building and the company executin~ the lease that the building(s) w~ll <br />house the center of the compm~¥'s operations includine the main offices for ~ls mmmgement <br />and administrative officers during the grant pehod. Agreements executed using this provision <br /> <br /> <br />