Economic Development Objectives. The Purchaser acknowledges and agrees that:
Economic Development Objectives. The Purchaser acknowledges and agrees that: a key objective of the Xxxxxx Project is to stimulate local economic and community development. The Vendor is working collaboratively with the City of Xxxxxxx Xxxxx and the local community to identify and develop these opportunities; to assist in the facilitation of these objectives the Purchaser must (or must procure its project partners to):
Economic Development Objectives. The City is committed to the high quality and balanced growth and development of the community, to preserving the City’s character and atmosphere and to revitalizing and redeveloping areas of the City. Various economic incentives are available under Missouri law to help municipalities achieve their public objectives. This Policy establishes the policy, procedures and requirements to govern the fair, effective and judicious use of these incentives by the City in order to help meet its economic development goals. Accordingly, the City has established certain goals regarding the use of economic incentives: • promote, stimulate and develop the general and economic welfare of the City, • encourage the training and development of the City’s workforce, • facilitate the creation and retention of jobs at or above a family supporting wage, • encourage the location and retention of businesses which are good corporate citizens that will add to the quality of life in the City through their leadership and support of local civic and philanthropic organizations, • encourage existing industry to expand, • assist new business start‐ups, • encourage the use of public economic incentives in locations and situations that provide the maximum public benefit, and • limit the use of public economic incentives for the shortest duration. Achieving these objectives can lead to significant public benefit, retention of existing quality jobs, construction of public improvements, creation of new jobs, elimination of blight, increase in property values, increase in tax revenues, and economic stability throughout the City. It is the policy of the City that any decision regarding the use of economic incentives will be made in accordance with the guidelines, criteria and procedures set forth in this Policy. Nothing in this Policy implies or suggests that the City is under any obligation to approve or support the use of a particular economic incentive tool for any applicant. The City reserves the right to modify or waive, on a case‐by‐case basis, any of the procedures set forth in this Policy, provided that all of the applicable state statutory requirements are satisfied. APPLICATION AND REVIEW PROCESS
