Agenda - 05-18-2010 - 8b - Laserfiche WebLink

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Corporate Headquarters Incentive Criteria The Town will provide a one -half percent (.5 %) additional incentive to corporate headquarters if the project meets the following criteria: Corporate headquarters means the building or buildings that the principal executive officers have designated as their principal office [see North Carolina G.S. 55 -140 (17)]. The Town requires that the corporate headquarters have at least fifty (50) or more full -time employees who are located in the building or buildings. If the project is an expansion, the expansion must employ a minimum of fifty (50) additional full -time employees. The wage must be greater than the median wage for Wake County. The jobs shall be retained at the approved level for as long as incentives are received. The project must meet all other pertinent criteria. Retail /Mixed Use Criteria Large shopping centers and malls (not strip centers) will be considered for incentives if they meet the other criteria and adhere to a set of design requirements and amenities to be included in the agreement. The project shall adhere to a substantial number of the Smart Growth Principles as established by the Smart Growth Network (www.smartgrowth.org). See Appendix 1 for a complete list of the ten principles and additional details about the Smart Growth Network. The incentive may be reduced if all requirements and amenities are not met. Shopping center and mall developments must have a mixed use component as defined by the Town of Garner. Retail /Mixed use projects shall be of a large size and shall be construed as an economic catalyst type project likely to encourage and promote other types of positive development for the Town of Garner. These incentives are intended for major developments (those that exceed a minimum investment threshold of $50,000,000 and exceed 50 acres in size). These major development projects may be offered incentives by the Town in such dollar amount, which may exceed the maximum incentive amount of this Policy, and under such terms and conditions, including modification of any of the terms, criteria, and requirements of this Incentive Policy, as deemed appropriate by the Town of Garner Board of Aldermen to maximize the Town's economic development goals and carry forth the overall goals and services that are the Town's responsibility. Retail /Mixed Use development must be consistent with the design guidelines for regional centers in the Town of Garner Comprehensive Growth Plan. The development should be in an area designated as a regional center by the Comprehensive Growth Plan. The layout shall accommodate a walkable core that is very pedestrian friendly. The architecture should be rich and detailed, and blend with the surrounding area. Vertical scale with mixed use office/residential will be given higher consideration. The Town may require a phasing plan for large scale, multi -year projects. Prior to approving the incentive package, the design guidelines for retail/mixed use shall be approved by the Town of Garner. The project must provide a minimum of $1100 of tax base per gallon of sewer allocated. The project must meet all other relevant criteria contained in this document. Targeted Incentive Bonus for Cafeteria and/or Bookstores as a part of a qualifying Retail/Mixed Use development. The community has expressed strong interest and desire for specific retail and restaurant facilities that are presently absent from the Garner trade area. In recognition of this desire, the Town is willing to increase the maximum retail/mixed use incentive amount for each of the following facilities that are included in an otherwise eligible major retail/mixed use project: full - service cafeteria with a minimum of 210 seats and/or retail bookstorelbookseller with cafe /snack bar with a minimum of 18,750 square feet. Applications for retaiUmixed use incentives will be evaluated and rated by the Town's Incentive Committee as selected by the Town Manager. The Committee will thoroughly review and analyze 491Page