(A) It is hereby declared to be the policy of the county to promote and enhance the quality of the life of the residents of the county by furthering the development of the economic resources of the county through the attraction, retention, and creation of suitable business investment with an emphasis on commercial and industrial concerns that have minimal environmental impact. In connection with this effort, it is the policy of the county to take steps to improve the opportunities for job creation, to foster job retention, to lessen the burden of government and to broaden the tax base through the development of the commercial, business, and industrial potential of the county.
(B) It is the intent of the municipalities in the county to support economic development and the goals set forth above by assisting the county in the collection of charges relative to multi-family, commercial, or industrial development within their respective jurisdictions.
(C) In connection therewith, the county deems it appropriate and in the public welfare to provide for the payment of increased services from the BCEDC.
(D) (1) In addition to and not as a substitution for financial assistance and support afforded the BCEDC from the general funds of the respective municipalities who are signatories to this section and interlocal agreement, there is hereby established and created as a means to pay for the services provided by the BCEDC a special “Boone County Economic Development Service Fund” (EDS Fund) which shall serve as a depository for economic development charges collected pursuant to this section and interlocal agreement. The EDS Fund shall be collected by the County Auditor for plats recorded in the Auditor's office and by the respective municipal entities on behalf of the county via interlocal agreement for residential, commercial and industrial development which may occur within their respective boundaries but without the necessity of platting in the County Auditor's office. The respective collectors of the charges, to-wit: the County Auditor and the respective municipal entities (the EDS Funds collected by the County Auditor in the case of plats recorded in the County Auditor's office, and by the appropriate municipal entities in cases where building permits are obtained without the necessity of platting) shall be administered/coordinated by the County Auditor and paid directly to the BCEDC for the use, benefit, services and mission of the BCEDC on a semi-annual basis. The respective municipal entities shall set up their own mechanisms/funds for the purpose of collection and receipting of the charges for delivery to and administration by the County Auditor.
(2) The special economic development charge, designated as a contribution in aid of economic development within the county and the aforementioned municipalities, shall be and is hereby established as follows for any commercial, industrial, office or retail development within the county:
| |
0 - 19,999 | |
20,000 - 49,999 | |
50,000 - 149,999 | |
150,000 - 249,999 | |
250,000 and above | |
(3) In addition, the special economic development charge designated as a contribution in aid of economic development within the county shall be and is hereby established for residential development in the sum of:
(a) $75 per residential single-family lot. Only platted residential developments consisting of five or more residential lots are subject to the economic development charge.
(b) For residential multi-family development, such as, apartments, condominiums and town houses, in the sum of $50 per residential living unit.
(4) Residential subdivisions which require platting shall have their charges collected by the County Auditor and that commercial, industrial, office, retail and multi-family residential development which does not necessarily require platting shall have its economic development charge collected on behalf of the county by the appropriate municipal entities of the aforementioned municipalities.
(E) (1) All of the aforementioned shall require the payment of the charge either at the time of:
(a) Recording the plats; or
(b) At the time of the issuance of building permits
(2) The County Auditor or appropriate municipal entity of the respective municipalities shall provide receipt evidencing payment of the economic development charge as established under this section. All revenues collected under this section as an economic development charge shall be deposited into the aforementioned EDS fund, administered and coordinated by the County Auditor, and paid directly to the BCEDC on a semi-annual basis for the use, benefit, services and mission of the BCEDC. Until the monies are remitted to the BCEDC, they may be invested in accordance with the laws of the state as applicable to county and municipal governments. Any interest or other return earned upon the investment of the funds may be utilized by the municipalities as a means to offset any administrative expenses incurred as a result of the collection of charges.
(3) Following the effective date of this section, on the first business day on or after April 1 and October 1, the Auditor shall transmit all funds collected by the aforementioned municipalities and the county to the BCEDC for the purpose of providing increased services and benefits described in this section and interlocal agreement.
(F) The amount of the economic development charge may be altered or modified only by amendment of the section. Any one of the signatories hereupon may request a formal review and evaluation of this section and interlocal agreement by the County Commissioners by filing the request at any time. At the time of adoption, it is the intent of the interlocal signatories hereupon that this agreement shall remain in full force and effect for an initial term of one year and shall be renewed annually thereafter. Should any municipality aforementioned wish to withdraw at the end of the initial one year term or any subsequent term, written notice of the intent shall be delivered to the office of BCEDC at least 90 days prior to the end of the current term. A withdrawal by one municipality shall not affect the validity of this section and interlocal agreement as to the remaining participants and the ordinance shall continue in full force and effect for those remaining signatories hereupon. This section and the interlocal agreement shall automatically be renewed for subsequent one year terms unless the County Commissioners or any of the other signatories, after formal review and evaluation, determine that this section and interlocal agreement should be modified or not be renewed and provide written notice of such intent to the EDC at least 90 days prior to the end of then current term.
(Ord. 2005-23, passed 12-5-2005)
