§ 2.210.020. Economic and community development incentive grants.

A.

The metropolitan government may make economic and community development incentive grants to the board for qualified projects in order to encourage economic and community development within the boundaries of the metropolitan government. The amount of the economic and community development incentive grant during any year will be determined by multiplying the average number of new full time equivalent employees of the qualified company within the boundaries of the metropolitan government during the preceding year by an amount up to five hundred dollars. The actual amount of the economic and community development incentive grant with respect to each qualified project and the period of such grant shall be determined taking into account, among other things, the amount of revenue from all sources that is anticipated to be received by the metropolitan government with respect to the location of the qualified company and its operations in the qualified project and other economic and community development opportunities that the qualified project is expected to create. Any grant made in accordance with the provisions of this Section 2.210.020 will be memorialized by an agreement among the metropolitan government, the board and the qualified company that operates the qualified project, pursuant to which the metropolitan government will authorize the board to utilize such economic and community development incentive grants to acquire, whether by purchase, lease or otherwise, real or personal property for use for the qualified project, and to improve, maintain, extend, equip and furnish real and personal property owned by the board and used for the qualified project.

B.

Upon the ECD being contacted by a qualified company, the ECD may recommend that the metropolitan government make an economic and community development incentive grant to the board for the purposes described in this section, subject to approval as provided in Section 2.210.030 of this Code, in order to encourage economic and community development within the boundaries of the metropolitan government. The actual amount of the economic and community development incentive grant and the period of such grant shall be determined taking into account, among other things, the number of jobs created, the amount of revenue from all sources that is anticipated to be received by the metropolitan government with respect to the location of the qualified company and its operations and other economic and community development opportunities that the qualified company is expected to create. Any grant made in accordance with the provisions of this Section 2.210.020(B) will be memorialized by an agreement between the metropolitan government and the qualified company, pursuant to which the metropolitan government will authorize the board to utilize such economic and community development incentive grants to reimburse the qualified company for all or part of its documented expenditures related to the acquisition, preparation or occupancy of office space and other facilities, costs of moving to or relocating within the area of the metropolitan government, and costs associated with employee training.

C.

Beginning January 1, 2018, a qualified company shall be eligible for economic and community development incentive grants only upon satisfaction of the following additional requirements:

1)

Written confirmation is provided by the director of the Metropolitan Transit Authority (MTA) that the qualified company has contacted MTA regarding qualified project participation in the EasyRide MTA-RTA Commuter Program; and

2)

For the duration of any economic and community development incentive grants, the qualified company must provide an annual written report to the ECD regarding the participation rate of its full-time equivalent employees in the EasyRide MTA-RTA Commuter Program. Failure to submit timely written reports may be grounds for termination of a grant.

The provisions of this subsection C. shall expire and be null and void on January 1, 2020 ("sunset date") unless extended by resolution of the council of the Metropolitan Government of Nashville and Davidson County. This provision, commonly known as a "sunset provision," is included to ensure that the effectiveness and necessity of this subsection is reviewed by the metropolitan council after its implementation.

(Ord. BL2017-904 § 1, 2017; Ord. BL2017-643 § 1, 2017; Ord. BL2010-806 § 4, 2011; Ord. 99-1680 § 1 (part), 1999)