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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 />25 - 20 <br />100 <br /> <br />x $ 100,000 = $ 5,000 I <br /> <br />Job Creation Cap - Additional Public Benefit Criteria <br />The three-year tax exemption benefit shall be limited to a maximum of $96,000 per job created <br />or $32,000 per job created per year, whichever is less. Tax exemption benefits in excess of that <br />amount shall be paid as a public benefit contribution. Public benefit contribution paYments made <br />with the criteria points formula (above) will be credited towards the paYment required by the job <br />creation cap. The maximum public benefit paYment shall be one-third of the tax exemption <br />benefit. <br /> <br />Exhibit A <br /> <br />4 <br />
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