§ 2.50.035. Additional duties and responsibilities.

In addition, the board shall:

A.

Whenever the city commission or its designated representative receives an application for assistance in connection with the establishment or construction of an industrial, commercial or business project or facility, the city commission shall direct the applicant to the board. The applicant shall be required to prepare a detailed application in writing, on a form to be provided by the board and submitted to it in accordance with currently adopted policies and procedures.

B.

The application shall be accompanied by an application fee in an amount to be established from time to time by resolution of the city commission. If the application fee is insufficient to cover the cost of investigating and evaluating the project, the applicant shall be responsible for paying such additional amounts to cover the costs of evaluating the application. The proceeds from such application fees shall be deposited by the city treasurer as a separate line item account, which shall be used solely for purposes of funding the activities of the board. In no event shall any part of the original application fee be refundable to the applicant, regardless of the cost of processing the application. The economic incentive board shall recommend what amount, if any, of any additional application fees shall be refundable.

C.

Upon receipt by the board of an application for municipal assistance completed in accordance with currently adopted policies and procedures, the board shall forthwith commence an investigation of the applicant and of the matters contained in the application, which shall include an investigation of at least the following factors:

1.

The legal status of the project described in the application and whether or not the project can be lawfully instituted, constructed or operated with the municipal assistance proposed in the application;

2.

The applicant itself (and if the applicant is a subsidiary of another firm owning a majority of stock in the applicant, the parent firm), to determine the financial status of the applicant and its ability to perform the duties which will be imposed upon the applicant as a result of the application;

3.

The financial feasibility of the project;

4.

Verification of the fact that the project will serve the public benefit of the citizens of the city, by providing its citizens with job opportunities and with a source of additional income;

5.

The proposed technology for the project, to insure that the project will be in fact capable of achieving those purposes stated in the application.

D.

Upon completion of the investigation, the board shall formulate a written report concerning the application which it shall submit to the city commission. The written report shall detail the findings of the board and shall conclude with a recommendation to the city commission as to whether or not municipal financial assistance should be furnished to the applicant in connection with the proposed project. This shall be a recommendation only, and final authority for determining whether municipal assistance shall be given in connection with a proposed project shall be made solely by the city commission.

E.

In carrying out its duties and responsibilities, the board, with the concurrence of the city commission, is authorized to engage an outside individual or agency to investigate the viability/feasibility of all parties and matters related to the application. The hiring of an independent agency shall be subject to the city procurement policies and currently adopted EIB policies and procedures if applicable and shall be approved in advance by the city commission. The engagement of such agency/entity may be done on an individual project basis or on a contracted term basis.

F.

If the board's report to the city commission recommends that municipal assistance be given to the applicant, the written report will identify the terms, conditions, and other material requirements for approval of the project. If the boards' report to the city commission recommends that municipal assistance be given to the applicant, the written report will be accompanied by a suggested form of inducement resolution inviting the establishment of the project to be acted upon by the city commission in the regular course of its business. The inducement resolution shall contain such matters as may be required by law.

G.

If the city commission determines that municipal assistance should be given to a firm desiring to construct or establish an industrial, commercial or business project within or near the corporate limits of the city, the city commission shall advise the board of the commission's decision. Immediately thereafter, the board shall commence preparation of such proceedings as might be required by federal or state law or regulation to accomplish the purposes designated by the city commission. The board's work in preparation of formal legal proceedings shall be undertaken in consultation with appropriate officials of the city, representatives of the applicant, and representatives of such other firms as the board shall consider necessary. In no event shall any formal legal proceedings be submitted to the city commission unless such proceedings are in compliance with all provisions of this code.

H.

Upon the completion of those activities required by this section, the board shall cause to be submitted to the city commission all formal legal proceedings which shall be necessary for the completion of the municipal assistance required by the applicant desiring to construct or establish an industrial, commercial or business project within or near the corporate limits of the city.

(Ord. 1686-2001 § 3, 2001).

(Ord. No. 2052-2015, § 2, 8-6-15).