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Item A: MUPTE Program
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CC Agenda - 06/24/13 Work Session
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Item A: MUPTE Program
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6/21/2013 2:11:02 PM
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6/21/2013 11:38:26 AM
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Agenda Item Summary
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6/24/2013
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<br />Minimum Threshold Criteria: Tax Exemption Benefit <br /> <br />Applicants meeting the Minimum Threshold Criteria will be eligible for <br />R <br />consideration of a 5 year property tax exemption on the eligible portion of the <br />project. Applicants may qualify for an extension of the tax exemption for of up to <br />ten years based on the Additional Public Benefit Criteria. <br /> <br />ADDITIONAL PUBLIC BENEFIT CRITERIA <br /> Local Hiring <br /> <br /> <br />Increase the percentage for dollar volume of the combined professional services <br />R <br />and construction <br /> <br />Increase the percentage of the on-site construction jobs performed by local <br />R <br />residents <br /> <br /> Location <br /> <br /> <br />Do not give extra consideration for projects located within Downtown Plan Area <br />R <br /> <br /> Project Features <br /> <br /> <br />Public safety (lighting, design elements) <br />R <br /> <br />No tax exemption on commercial space that competes with neighboring <br />R <br />businesses <br /> <br />OTHER PROGRAM FEATURES <br /> MUPTE Review Panel <br /> <br /> <br />Do not include a MUPTE review panel <br /> <br /> Program Volume <br /> <br /> <br />Cap the annual dollar amount of tax exemptions approved (Example: <br />R <br />$500,000/year) <br /> <br />Rolling Cap (suspend the program when a specific dollar amount of tax <br />R <br />exemptions is reached, then reopen when project come onto the tax rolls) <br /> <br /> Application Period <br /> <br /> <br />Limit the application period to create competitive process <br /> <br />
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