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AG 1998 09 21
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AG 1998 09 21
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Last modified
3/25/2002 6:08:23 PM
Creation date
11/27/2017 11:52:28 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/21/1998
Board
Board of Commissioners
Meeting Type
Regular
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the quantity and q-.[ity of empl,oymedt opportunities created by the project; <br />the .type of' commercial/retail activities included within the proposed project; <br />the potential stimulus the project creates for additional commercial/retail development to <br />occur with the immediate area; <br />site specific issues that impact upon local infrastructure responsibilities; <br />other issues that may need to be considered relative to an individual project. <br /> <br />IlL' PROJECT QUALIFICATION~ <br /> <br />To be considered eligible for a commercial/retail development incentive grant a project should be <br />required to meet certain rn.Lrfimm criteria. These criteria are to be used as guidelines in project <br />evaluations. Additional criteria may be applied to a specific project based upon the terms of the <br />agreement between the cofia.rnercial/retail developer and the county (cities/towns as applicable). <br /> <br />minimum size of the project to qualify for consideration: <br />Level I grant - 250,000 sq-_~re feet of gross leasable area <br />Level II grant - 500,000 square feet of gross leasable area <br />Level III grant - 1,000,000 square feet of gross leasabre area or greater <br />Minimum retail sales generated must eq,,a! o.r exceed $200 per square foot of <br />gross lea:sable area <br />Level I grant - will be "an amount equal to" up to 25% of the local option 1 cent and two <br />local Option ½ cent sales tax generated by the project for a period not to exceed five full <br />years of operation <br />Level II grant - will be "an amount equal to" up to 50% ofthe local option I cent and'two <br />local option ½ cent sales tax generated by the project for a period not to exceed five full <br />years of'operation <br />Level iii grant - will be "an amount equal to" up to 75% of the local option I cent and <br />two local option V: cent sales tax generated by the project for a period not to exceed five <br />full years ofoper'ation <br />Under no circumstances will the incentive grant payments be tied to the local property <br />taxes to be generated by the project and ail property taxes to be paid by the new or <br />expanding com~. ercial/retail development mtm be paid in full and kept current during the <br />period that the C/P, DI grant remains in effect <br />The developer (grant recipient) shall require all tenants of the project to provide the <br />Count' complete and accurate retail sales and local option sales tax payment information. <br />The Coun~ shall secure the confidentiality of that information in reco?ition of'the <br />proprietary nature of the data within'the parameter authorized under state law. <br />Commercial/retail development incentive g,~tnt benefits may not be transferred or <br />otherwise conveyed to another party without the specific consent of the Board of County <br />Commissioners and other contracting agencies. <br />All commercial/retail development incentive grant benefits are designed to be-linked <br />directly to local option sales tax revenues received by the county attributable directly to <br /> <br /> <br />
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