CITY MANAGER’S OFFICE MEMORANDUM #21-2019Sales Tax Credit Ordinance • April 3rd, 2019
The purpose of this CB-1924 on second reading and public hearing is to implement a Sales Tax Credit Ordinance granting a sales tax credit for 2.25%, and an accommodations tax credit for 3.75%, known as a “Credit Public Improvement Fee” (Credit PIF). This Credit PIF is imposed and collected subject to the terms and limitations set forth in the Credit PIF Covenant, the PIF Collection Agreement, and the Public Finance Agreement (PFA) with Karl’s Farm Investors, LLC. This Ordinance is an Exhibit to the Public Finance Agreement (PFA), which is scheduled to be presented to Council on April 8, 2019. Following CB-1924 is CR-34, approval of the Karl’s Farm Public Finance Agreement.
CITY MANAGER’S OFFICE MEMORANDUM #21-2019Sales Tax Credit Ordinance • April 3rd, 2019
The purpose of this CB-1924 on second reading and public hearing is to implement a Sales Tax Credit Ordinance granting a sales tax credit for 2.25%, and an accommodations tax credit for 3.75%, known as a “Credit Public Improvement Fee” (Credit PIF). This Credit PIF is imposed and collected subject to the terms and limitations set forth in the Credit PIF Covenant, the PIF Collection Agreement, and the Public Finance Agreement (PFA) with Karl’s Farm Investors, LLC. This Ordinance is an Exhibit to the Public Finance Agreement (PFA), which is scheduled to be presented to Council on April 8, 2019. Following CB-1924 is CR-34, approval of the Karl’s Farm Public Finance Agreement.
