Res 2004-183 - Laserfiche WebLink

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I I I Economic Development Incentives Policy October, 2004 Page 5 Fee Waivers The City is willing to consider the reduction or elimination of fees including impact fees, building permit fees, inspection and contractor's fees, site development permit fees and processing fees for platting, zoning and land use applications. Utility Infrastructure: a. Standard utility incentive' The municipally-owned power, water, and wastewater departments have adopted rate policies that permit reduced rates for customer rate classifications or categories based upon usage Agreements may be available to reduce utility rates based upon adopted usage categories b Standard utility incentive: The City partners with developers on infrastructure improvements, The City's development policy commits city funds to provide for the cost of over-sizing infrastructure when deemed necessary for future development. This policy eliminates the need for developers to absorb the total cost of over-sizing "up front" and then waiting to recover a portion of the costs when future development ties into the improvements. c Special utility incentive: The City has the capacity and flexibility to offer qualified companies infrastructure improvements and extensions at reduced cost. Such incentives may include improvements to curbs and gutters, street paving, water and wastewater, electrical supply, and public lighting Property Tax Abatement Incentives The City of San Marcos offers property tax abatement for new or expanded commercial or industrial construction, as well as business personal property taxes associated with real property City abatements are granted through a contract approved by the San Marcos City Council. After city qualification, the City will assist applicants in seeking abatement agreements with the other taxing authorities The following criteria must be met for an applicant to be considered eligible to contract for tax abatement and/or any other economic development incentive' a. The proposed development and/or redevelopment must create and maintain or retain at least 5 jobs, and/or b An investment by the applicant of at least $50,000 00 in property improvements is required, and, c The project must conform to the requirements of the City's Master Plan, zoning ordinance, building codes and other applicable City ordinances Sales Tax Rebate Incentives Eligibility Criteria In addition to the evaluation criteria for incentives listed above, a project for which sales tax rebates are requested must meet the following minimum requirements 1. The project must either a. Result in a minimum increased taxable value for the City of $25,000,000 in real and business personal property (excluding inventory and supplies), or b Result in a minimum increased taxable value for the City of $250,000 in real and business personal property (excluding inventory and supplies) in the Downtown Zoning District; or c Result in a minimum increased taxable value for the City of $15,000,000 in real and business personal property (excluding inventory and supplies) for the redevelopment -but not relocation-of existing businesses; or d. Will result in a 3% minimum sales tax increase to the City over the most recently completed fiscal year..