Incentive Application Process & Timeline
1. Business completes and delivers Incentive Application to Director of Economic Development.
2. Staff reviews application for completeness. If additional documentation or information is required, the owner/developer will be contacted and the required information gathered.
3. Once a complete application is received, an economic development impact analysis (EIA) is performed and an economic development incentive agreement are negotiated. The Economic Development Incentive Agreement is between the owner/developer and the City and EDC and outlines the obligations of the Company and the City.
4. Staff forwards summaries of the EIA and application, incentive agreement and a recommendation for approval or disapproval for review and action by the Economic Development Corporation Board of Directors
5. The EDC Board of Directors approves or disapproves at the Board’s Regular meetings (2nd Thursday at 6:30pm in City Council Chambers)
6. If approved, the Agreement moves forward for City Council’s approval. If disapproved by the Board, the application stops.
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