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

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• Reputation of the company. • The presence of competition for the project. • Impact on the quality of life for Garner citizens. • Corporate headquarters. • Past record of community involvement. • Amenities provided by mixed use retail (not strip center). The Incentive Committee may recommend full, partial, or no incentive based upon its review of the application and the applicant's consistency with the criteria described in this policy. The Board of Aldermen may authorize full, partial, or no incentive after receiving the staff recommendation. Community Involvement It is expected that any entity that receives public funds by way of an incentive, will be involved in the community or local non profits, either actively or financially. The entity shall become a member of the Garner Chamber of Commerce for at least as long as the incentive payments are being granted. The industry will encourage its employees to become involved in community organizations and programs. Companies receiving incentives are strongly encouraged to hold job fairs in Garner to employ as many Garner citizens as possible to fulfill their employment needs. Public Hearing After economic development incentives are negotiated, but prior to being consummated by contract, a public hearing shall be held in accordance with NCGS § 158 -7.1 et seq. and other applicable laws. At its discretion, the Town Board may authorize that a public comment period be held when no public hearing is required. Payment Incentives will be paid after all taxes, fees and charges due the Town are paid. Documentation of taxes paid and request for reimbursement shall be presented to the Town prior to May 1st of each year. The industry must enter into a binding incentive contract with the Town of Garner and is therefore subject to any reporting or repayment requirements contained within. Knightdale (.Overview In order to expand economic development opportunities for the town of Knightdale, it is the policy of the Town to stimulate economic activity and to create and maintain sustainable jobs for the citizens of the Town in strategically important industries. The Town of Knightdale will make those necessary and reasonable efforts to advance the Town's goal of achieving a 60% residential and 40% non- residential tax base distribution, and the purpose of this Economic Development Policy & Development Grant Program is to stimulate economic activity and to create new jobs in the Town of Knightdale. This Policy will promote the general welfare and confer, as its primary purpose and effect, benefits on citizens throughout the Town and Wake County through the creation of new jobs, an enlargement of the overall tax base, an expansion and diversification of the Town's industrial base, and an increase in revenue to the Town, the county, and the State of North Carolina. The Town of Knightdale announces this Economic Development Policy and enacts the following Development Incentives Program: g11Page