§ 3-8-2 Criteria.
Pursuant to this article, the City may enter into development agreements or other contracts that reimburse development related fees, expend city funds, reimburse city sales tax revenues, and/or reimburse a percentage of the construction sales tax levied in certain circumstances for projects only upon satisfaction of all of the following criteria:
(A) The project furthers the goals of the City as established within the following documents adopted by City Council and subject to updates as approved by the City Council or vote of the public:
(1) Focused Future II Strategic Plan for Economic Development as adopted by City Council in May 2002; or
(2) Goodyear Economic Corridor Study conducted by Arizona State University’s School of Planning and Landscape Architecture as adopted by City Council in May 2003; or
(3) The Goodyear Redevelopment Plan, as adopted by City Council in January 2005; or
(4) Goodyear General Plan, as amended from time to time, and other applicable ordinances of the City.
(B) The reimbursement of the fees, expenditure of the funds, rebate of city sales tax revenues, and/or reimbursement of a percentage of the construction sales tax levied are reasonably expected to assist in the creation or retention of jobs in the City or will otherwise improve or enhance the economic welfare of the City.
(C) The benefits the City will receive from the commercial or industrial project are reasonably expected to outweigh the economic costs to the City, as demonstrated through the City’s fiscal impact analysis model.
(D) The City has funds available for certain off site infrastructure improvements.
(E) The recipient, in order to receive benefits as outlined in the ordinance, and further defined in a development agreement, shall:
(1) Enter into a development agreement with the City as to the terms and conditions of the development and such other provisions as may be requested by the City, as authorized under A.R.S. § 9-500.05 and/or A.R.S. § 9-500.11. The development agreement must be consistent with this article and shall further identify the rights and obligations of the parties under this article. The information shall not include proprietary or certain financial information that, in the reasonable opinion of the recipient, could be used to recipient’s competitive disadvantage by market competitors; and
(2) Provide information, including capital investment and employment projections, to enable the City to prepare an economic assessment of the recipient project; and
(3) Provide an update of information, including capital investment and employment projections, 12 months after business operations have begun. (Ord. 97-574, passed 4-22-1997; Am. Ord. 98-596, passed 3-23-1998; Am. Ord. 00-692, passed 6-12-2000; Am. Ord. 03-846, passed 6-23-2003; Am. Ord. 05-958, passed 8-22-05)