§ 32-34. Eligibility.

A development submitting an application for economic development incentives which has been determined to qualify under sections 32-31 and 32-32 may, at the sole discretion of the city commission, be deemed eligible to receive one or more of the following incentives made available under the terms of this article:

(1)

Impact fees and connection charges. Through the creation of an economic development fund, the city commission may choose to:

a.

Defer payment of all or a portion of the impact fees and/or utility connection charges associated with a particular project until such time as a certificate of occupancy (CO) for the project has been requested; or

b.

Pay all or a portion of the impact fees and/or utility connection charges that apply to a particular project, provided that the infrastructure, equipment or facilities normally expected to be purchased with these fees and/or charges is either currently available, or will be purchased, installed and paid for by the developer; or

c.

Pay all or a portion of the impact fees and/or utility connection charges which apply to a particular project, and then defer reimbursement of these impact fees and/or charges to the city for up to a maximum of three years, with payment to be made on either a lump sum or installment basis at the city commission's discretion; or

d.

Reimburse the developer for all or a portion of the impact fees and/or utility connection charges that have been paid in conjunction with a particular project. Such reimbursement may be deferred up to a maximum of three years, or prorated over this time period as mutually agreed upon by the city and the developer.

(2)

Industrial bond financing. The city commission may issue revenue bonds for the purpose of financing and providing funds for those projects that meet the criteria and requirements set forth in F.S. §§ 158.25—159.431, the Florida Industrial Development Financing Act.

(3)

Job training. The city commission may reimburse all or a portion of the job training costs for city residents hired to fill positions created under the auspices of this article. The city commission may also request assistance from any of the following agencies with the development of appropriate job training programs: Pasco Economic Development Council; Pasco County School Board; Pasco-Hernando Community College; or the Pasco Hernando Jobs and Education Partnership.

(4)

Ad valorem tax abatement. Subject to voter approval, the city commission may abate ad valorem taxes for a maximum of five years to encourage land and capital investment.

(Ord. No. 2001-0763, § 4, 1-23-2001)