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<br />Based on the number of public benefit criteria points earned in each Enterprise Zone tax <br />exempt year, each company shall make a public benefit contribution which shall be a <br />percentage of the total tax exemption in any given year, based on the following: <br /> <br />Points <br />Earned <br /> <br />Public Benefit <br />Contribution % <br /> <br />80+ <br /> <br />0% contribution <br /> <br />0-79 <br /> <br />Apply formula: Contribution due = a percentage equal to <br />15 minus (point total -;- 80) x 15 <br /> <br />Example: <br /> <br />If point total is 70 <br />15 minus (70 -;- 80) x 15 = contribution of 1.875% <br /> <br />Example: <br /> <br />If point total is 10 <br />15 minus (10 -;- 80) x 15 = contribution of 13.125% <br /> <br />NOTES ON DISTRIBUTION OF PUBLIC BENEFIT CONTRIBUTION: <br /> <br />- Public benefit contribution would be paid annually on same date as tax bill. <br /> <br />- 40% to Lane County; <br /> <br />- 40% to City of Eugene; <br /> <br />- 20% to programs sponsored by educational institutions, including Section 501(c)(3) tax <br />exempt education foundations. <br /> <br />Committee will reconvene in any year in which there is at least $10,000 in this <br />category to distribute. A competitive Request for Proposal process will be <br />conducted by the committee to allocate the available funds. <br /> <br />Administrative costs of the distribution process may be taken from the funds <br />available. <br />