§ 19.30.060. Forms of direct borough support.

Direct support from the borough for economic development projects may include the use or transfer of borough land, tax credits, and other forms of support as approved by the assembly. Assembly approval by ordinance is required for direct borough support of an economic development project.

A.

Land. In determining whether to make borough land available for the project, and on what terms, the following criteria shall be considered:

1.

Compatibility of the proposed use with the comprehensive plan and overall community needs.

2.

Compatibility of the proposed use with adjacent and surrounding land uses.

3.

Whether other borough land is available for the project in the nearby community. If not, whether there is adequate public land available to provide foreseeable public needs such as utilities, schools, emergency centers, solid waste disposal sites, and other foreseeable public needs.

4.

Whether other private land is available that would be appropriate for the proposed use. If so, whether the proposed use would inappropriately compete with private land owners.

5.

Examine the highest and best use of this parcel compared with the proposed use of the parcel.

6.

Determine whether other parties are likely to be interested in the same parcel of land. If so, consider the best option available for the borough and the community.

7.

The extent of any adverse impact the project may have on other borough resources or the natural environment.

8.

Consider the effect of the proposal on both the land bank and the land trust fund.

9.

The proposed terms of the transfer should be evaluated with all available options considered, including sale or lease at fair market value, sale or lease at less than fair market value, and favorable initial terms to help with startup financing to be repaid later.

10.

Consider borough land costs associated with the proposal such as payment of surveying, platting, appraisal, and closing costs.

B.

Tax Credits. Tax credits available for economic development projects shall include the economic development tax exemption to the extent the project qualifies for that exemption, and any other exemptions that are allowable under state statute and borough code. Applications made solely pursuant to the borough's economic development tax exemption at KPB 5.12.116 shall comply with the requirements for that exemption and are not subject to this chapter.

C.

Other. The assembly may consider other forms of direct support of qualifying economic development projects, provided that direct monetary contributions, either in the form of loans or grants, to applicants for direct borough support for economic development purposes, shall not be available through this process. This shall not be construed to prohibit access to tax exempt financing for such purposes.

(Ord. No. 2018-11 , § 3, 4-3-18; Ord. No. 99-14, § 1, 4-6-1999)