Item 3: Res/W.Eug.Enterpr.Zone - Laserfiche WebLink

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equal to or greater than the average county wage; d. The extent to which the company dedicates funds for non- mandated training and benefits; e. Whether the company is utilizing a previously developed site, including expansion of an existing site, or redevelopment of an industrial or brownfield site; f. The extent to which the assessed value of new investment exceeds $500,000 per acre; g. Whether the company is a small and/or local business or small and/or local start-up company. 2. Except as provided in Section 3, in no event shall the amount of the contribution exceed 25% of the tax exemption. 3. Notwithstanding the provisions of Sections 1 and 2 above, the three-year exemption benefit shall be limited to a maximum of $96,000 per job created or $32,000 per job created per year, whichever is less.. Tax exemption benefits in excess of that amount shall be paid as a public benefit contribution. A business whose tax exemption benefit is anticipated to exceed the job cap limitation described in Section 3 shall make a public benefit contribution based on the anticipated excess, with a reconciliation of the contribution amount to the extent allowed by law to occur in the third year of the exemption, based on records of actual employment. 4. During the period these Interim Criteria are in effect, the per-job limit on the three-year tax exemption benefit described in the first sentence of Section 3 may be waived or modified for a specific applicant if the City Council and the Lane County Board of Commissioners each agree to the waiver or modification. The co-sponsors' decision to waive or not to waive the limit shall be based on consideration of the applicant's proposed capital investment in the West Eugene Enterprise Zone; the anticipated employment resulting from the applicant's investment; the applicant's commitment to make other beneficial community investments; local economic conditions at the time of the application, including but not limited to the unemployment rate, market trends, and competition for attracting new businesses to the community; the co-sponsors' budget circumstances at the time of the application and the effect of reducing the public benefit contribution on the co-sponsors' ability to provide public services to their citizens; and the co-sponsors' judgment as to the reasonableness of the public benefit contribution in light of the foregoing factors and in comparison to the public benefit contribution paid by other companies in the West Eugene Enterprise Zone. ORDERED that the Board of Commissioners adopts the Public Benefit Criteria Scoring System contained in Exhibit A attached hereto and incorporated herein, to implement the Interim Local Criteria set forth above, for determining exemptions for future investments made by companies participating in the proposed West Eugene Enterprise Zone, and it is further ORDERED that beginning in August 2005, Lane County and the City of Eugene will undertake a process to develop and adopt permanent standards and public benefit criteria for the West Eugene Enterprise Zone. The process will begin with convening a joint H:\BCC\ECONDEV~BO-VVE Enterprise zone -6.doc