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Ordinance No. 20368
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2006 No. 20357-20374
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Ordinance No. 20368
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Last modified
6/10/2010 4:46:01 PM
Creation date
5/24/2006 5:06:19 PM
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Template:
City Recorder
CMO_Document_Type
Ordinances
Document_Date
5/22/2006
Document_Number
20368
CMO_Effective_Date
6/23/2006
Author
Kitty Piercy
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<br />Private Rehabilitation Agencies, St. Vincent de Paul, Salvation Army, Vocational Rehabilitation, other. <br /> <br /> <br />Company takes steps to ensure a positive work environment during construction of a <br />qualified enterprise zone investment. <br /> <br />. Utilization of State approved (Oregon Apprenticeship <br />and Training Division) apprenticeship programs for <br />construction trades during construction. <br /> <br />2 points <br /> <br />. Qualified firm signs a "Build Oregon Responsibly" <br />agreement. <br /> <br />1 point <br /> <br /> <br />Size of new investment. <br /> <br />Assessed value equal to or greater than $2,500,000 <br />Assessed value equal to or greater than $5,000,000 <br /> <br />1 point <br />2 points <br /> <br />The criteria above will determine if a company is required to make a Public Benefit <br />Contribution. Companies scoring below 25 points will be required to make a Public Benefit <br />Contribution. The formula for calculating the Public Benefit Contribution is described below. <br /> <br />Calculating the Public Benefit Contribution <br />Companies that score below 25 points will make a public benefit contribution based on the <br />following formula: <br /> <br />25 - Criteria Points Earned <br /> <br />x Tax Exemption <br /> <br />= Public Benefit Contribution <br /> <br />100 <br /> <br />Example <br />If a company scores 20 points and has a tax exemption of $100,000, the company will make a <br />$5,000 Public Benefit Contribution (5% of the tax exemption). <br /> <br />25 - 20 <br />100 <br /> <br />x Tax Exemption <br /> <br />= Public Benefit Contribution <br /> <br />Exhibit A <br /> <br />3 <br />
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