Consider A Resolution Authorizing The City Manager To Negotiate And Execute An Economic Development Incentive Agreement With UEP, Inc. Establishing A Program Of Grants To The Company For Its Expansion At 2323 McDaniel Drive, In Amounts Equal To Fifty Perc

Staff Report & Agenda Item Details

Consider A Resolution Authorizing The City Manager To Negotiate And Execute An Economic Development Incentive Agreement With UEP, Inc. Establishing A Program Of Grants To The Company For Its Expansion At 2323 McDaniel Drive, In Amounts Equal To Fifty Percent (50%) Of Taxes Paid To The City On The Assessed New Value Of Real Property And Business And Personal Property For A Maximum Term Of Two (2) Five (5) Year Terms, Not To Exceed Seven Hundred Ninety-Eight Thousand And Five Hundred Four Dollars ($798,504) In Phase 1 And Not To Exceed Four Hundred Thirty-Three Thousand And One Hundred Ninety-Nine Dollars ($433,199) In Phase 2.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 7.5/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).