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IlL PROJECT QUALIFICATIONS <br /> <br />To be considered eligible for a industrial development incentive grant a project should be <br />required to meet certain basic 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 bet'ween the industrial client and county (cities/towns as applicable). <br /> <br />m[rfimum value project to qualify, for consideration: <br />Level [ ~ant - $ 5,000,000 or greater <br />Level II grant - $ 20.000,000 or ~eater <br />Level iii grant - $ 100,000,000 or greater <br /> <br />Level I grant - up to 75% of local property taxes to be pa~d by the new or expanding <br />industry for a period of five consecutive tax years <br /> <br />Level [I grant - up to 80% of local property taxes to be paid by the new or expanding . <br />indust:?' for a period of five consecutive tax years <br /> <br />Love! [.ri grant - up to 85% of local property taxes to be paid by the aew or expanding <br />indus:.?' for a per/od of five consecutive tax years <br /> <br />Under no circumstances would any new or expanding industry receive an indust, dal <br />development incentive ~ant that lowered the net tax payments paid to the county <br />(cities/towns as applicable) to a level less than the local property, taxes paid in a prior <br /> <br />Grant payments will not be made unless the applicable indUstr?' is current in all' other <br />r-.-u;-e'~. ., _ local proee~,'. . tax payments, of record within Caba.~. as Count,,'.. <br /> <br />[ndusr~al development incentive grant benefits may not be transferred or otherwise <br />conveyed to another parry, w-ithout the specific consent of the Board of Coun .fy <br />Commissioners <br /> <br />Cities/towns must agree to abide by the terms of this proposal for it to be applied to sites <br />within the cities/towns or on a site subject to annexation. The industrial development <br />incentive grant formula apptied to a project within one of the county's cities/towns will <br />be applied at the same [eve[ as authorized by the Board of County Commissioners. <br /> <br />ALL INDUSTRIAL DEVELOPMENT INCENTIVE GI~NTS WILL BE <br />CONVEYED BY A FOt:~.¥L-XL AGREEMENT BETWEEN THE INDUSTRY <br />RECEIVI~N'G THE GR.4~'~'T AND THE COUNTY ALONG WITH AFFECTED <br />CITIES'AND TOWNS AS APPROPRIATE. <br /> <br /> <br />