AG 1998 11 16 - Laserfiche WebLink

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the quantity and quality of employmerit opportunities created by the project; the .type of' commercial/retail activities included within the proposed project; the potential stimulus the project creates for additional commercial/retail development to occur with the immediate area; site specific issues that impact upon local infrastructure responsibilities; other issues that may need to be considered relative to an individual project. III" PROJECT QUALIFICATIONS To be considered eligible for a commercial/retail development incentive grant a project should be required to meet certain minimum criteria. These criteria are to be used as guidelines in project evaluations. Additional criteria may be applied to a specific project based upon the term_~ of the agreement between the cofixraercial/retail developer and the county (cities/towns as applicable). minimum size of the project to qu:dify for consideration: Level I grant - 250,000 square feet of gross leasable area Level II grant - 500,000 square feet of gross leasable area Level Iii gx'ant - 1,000.000 square feet of gross leasable area or greater Minimum retail sales generated must equa! or exceed 1;200 per square foot of gross lea:sable area Level I grant - will be "an mount equal to" up to 25% oft. he local option I cent and two local Option ½ cent sales tax generated by the project for a period not to exceed five full years ofoperafion Level II grant - will be "an amount equal to" up to 50% of the local option 1 cent and'two local option ~ cent sales tax generated by the project for a period not to exceed five full ' years of operation Level Ill grant - will be "an amount equal to" up to 75% of the local option 1 cent arid two local option ~ cent sales tax generated by the project for a period not to exceed five full years of operation Under no circumstances will the incentive grant payments be tied to the local property taxes to be generated by the project and all property taxes to be paid by the new or expanding comn~, ercial/retail development must be paid in full and kept current during the period that the C/RDI grant remains in effect The developer (grant recipient) shall require all tenants of the project to provide the Count' complete and accurate retail sales and local option sales tax payment information. The County shall secure the confidentiality of that in.formation in recognition of the proprieta~' nature of the data within'the parameter authorized under state law. Commercial/retail development incentive grant benefits may not be transferred or otherwise conveyed to another party without the Sl~cific consent of the Board of County Commissioners and other contracting agencies. All commercial/retail development incentive grant benefits are designed to be linked directly to local option sales tax revenues received by the county attributable directly to