10-11-10 Council Agenda & Packet

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In the event it is determined any estimates used for net new employment or wages during the first three ears of the Base Phase -In Credit Period have a variance of more than thirtyfi#y ercent 30% less than the actual erformance the Applicant will be required to eith-ef-pay. the taxes actually owed plus a penalty of ten percent (10 %) of actual taxes owed ("Delinquency"), C—. 7; 4 orb �s �} bu.7'�%C�'� e4 r�edTrs �e �e omen within the next calendar year when the Delinquency was deternined to exist. DIVISION 3. INFORMATION REQUIRED OF APPLICANTS SEEDING TAX PASE -IN CREDITS Sec. 2 -84.1 Designation application required. (a) Owners roust file. Owners of real property or new manufacturing equipment located within the City may petition the Council on forms provided by the City Clerk for real or personal property tax phase -in consideration. All information and attachments required by the designation application must be completed and filed with the City Clerk together with a filing fee set forth below to cover the review, processing and administrative costs of the Community and Economic Development Department and City Clerk. However, the filing fee charged for filing a designation application for a parcel that contains one (1) or more owner - occupied, single- family dwellings may not exceed the cost of publishing the required notice. (b) Schedule of fees. The application/review and Clerk's Office fees set forth below must be paid by the applicant to the City Clerk simultaneous with the filling of application or petition for real or personal property tax phase -in consideration. (1) Real property: (1) Application/review: $350 (ii) Clerk's Office: $250 (2) Personal property: (i) Application/review: $350 (ii) Clerk's Office: $250 The application/review and City Clerk's components of each of the above fees are nonrefundable. (c) Fees collected under this section shall be deposited as follows: 19