CANBY
URBAN RENEWAL AGENCY
Incentive Program for Large Capital Investment
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INTRODUCTION
Canby is part of the Clackamas
County Strategic Investment Zone program that is designed to attract
very large capital intensive traded sector businesses making investments
of over $25 million. The program provides a 15 year property tax
abatement on buildings and equipment, consistent eligibility criteria
and a streamlined approval process. |
ELIGIBILITY
- Traded sector businesses that
sell their product or service outside of the State. Examples
include production, manufacturing, high tech, among others.
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- Applies to large capital investments $25 million
minimum.
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- Requires the company to pay a community service
fee equal to 25% of the tax savings per year to local public
service providers to offset community impacts. The community
service fee is capped at an annual maximum of $500,000 in
rural areas.
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PROGRAM SPECIFICS
Please contact Renate Mengelberg, Canby Economic Development Director
at 503-266-7001 or mengelbergr@ci.canby.or.us for more information.
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CANBY
URBAN RENEWAL AGENCY
Incentive Program for Job Creation and New Construction
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INTRODUCTION
In an effort to assist target businesses critical
to Canby's economic development, the Canby Urban Renewal District
(URD) is offering system development charge (SDC) credits for
job creation. The credits range from $500 to $2,000 per qualifying
job and will be applied to any industrial/manufacturing project
paying City of Canby SDCs that is located within Canby's URD.
The URD has a limited amount of funds available for this program. These
funds are available on a first-come, first-served basis until they are
exhausted in any fiscal year, provided that the URD may decide to equitably
allocate the proceeds, if more than one application is submitted during
any given fiscal year. This program is treated as a grant program providing
that recipients comply with the construction and job creation requirements
as outlined in their application.
Applicants will pay all SDC fees up-front to the City of Canby. After
job creation and retention goals have been met by the applicant, the
Canby Urban Renewal Agency may refund SDCs in accordance with the SDC
Grant Agreement entered into between the applicant and the City.
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ELIGIBILITY
Businesses must meet the following criteria to be eligible for this
program:
- Projects must be located
in the Canby Urban Renewal District.
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- Projects must be for industrial/manufacturing
businesses only.
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- Credits will only be applied to City
of Canby SDCs, paid by the applicant on qualifying project.
City of Canby SDCs are assessed for Transportation, Sanitary
Sewer, Storm Sewer, and Parks.
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- Credits will only be awarded for full-time
jobs meeting the above salary levels provided under the heading
Credit Amounts below.
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- The maximum credit allowed to an applicant
will be the lesser of the following: (a) $100,000; (b) 100%
of the SDCs actually paid by the applicant for the project
(excluding any credits that were given); (c) the balance of
the remaining grant funds at the time the grant requirements
are fully met; or (d) an equitable share of the remaining grant
funds at the time the grant requirements are fully met if there
are other qualified applications for reimbursement.
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- Applications for credits must be filed
no later than 90 days after the payment of the SDCs for which
credits are sought. We encourage applications to be filed well
in advance of payments.
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- Businesses must enter into an agreement
with the URD to provide a pre-defined number of new jobs, with
specified salary requirements. Once created, those jobs must
remain filled for a minimum of 24 months. (New jobs created
may start at any time within two years of final occupancy of
the building.)
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- Businesses must agree to allow the URD
to monitor and audit payroll records in order to confirm that
agreed upon job creation and retention goals are being met.
Businesses that do not meet the requirements of the SDC Grant
Agreement will not receive the credits.
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- Businesses located outside city limits
but requiring City services will only be eligible if they enter
into an annexation agreement with the City. The application
must follow applicable local, state and federal rules. Credit
will only be issued in such cases following annexation into
City limits.
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- Applicants may be either a building
owner, developer, or business owner or their representatives.
Funds will be issued to the individual/business that paid the
SDCs to the City of Canby.
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- Non-profits, government agencies, and
other users that do not pay property taxes are ineligible.
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| The Urban Renewal Agency reserves the right
to modify or interpret any eligibility standard or credit level
on a case-by-case basis if deemed necessary. |
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APPLICATION REQUIREMENTS
Businesses applying for this incentive program must provide the following:
1. Completed SDC Incentive Program Grant Application.
2. Copy of statement of estimated SDC fees by the City of Canby
or receipt of actual fees paid, if applying after payment date.
3. Job creation plan and agreement to submit annual employment
reports.
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PROCESS
1. Staff will review the application and make sure it is complete
and accurate.
2. Staff will make a recommendation to the Canby Urban Renewal Agency,
which will make a final decision on the application.
3. If approved, staff and applicant will finalize job creation and
employment reporting plan and a written contract will be signed.
4. Staff will monitor job creation and maintenance data. Upon successful
completion of plan, a rebate will be issued and a report provided
to the Canby Urban Renewal Agency.
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CREDIT FORMAT
The applicant will pay the full amount of SDC’s
to the City of Canby upon issuance of a building permit. A rebate
will be issued
to applicant only upon verification that all jobs listed in the
plan were created or remained filled for the 24 months required.
Please contact Renate Mengelberg, Canby Economic Development Director
at 503-266-7001 or mengelbergr@ci.canby.or.us for more information.
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