File #: 09-0407    Version: 1 Name: One Work Place - Business Incentive Agreement
Type: City Resolution Status: Passed
File created: 5/5/2009 In control: *Special Concurrent Meeting of the Oakland Redevelopment Agency/City Council
On agenda: 6/9/2009 Final action: 6/16/2009
Title: Subject: One Work Place - Business Incentive Agreement From: Community and Economic Development Agency Recommendation: Adopt A Resolution Authorizing A Business Incentive Agreement With One Workplace Ferrari, LLC ("OWP"), Requiring OWP To Expand And Maintain Its Business In The City For A Minimum Period Of Five Years In Exchange For The City's Disbursement To OWP Of Business Incentive Payments In Amounts Equal To The Percentage Of Sales And Use Tax Received By The City From OWP's Retail Sales For The Following Periods: (1) For Year Two Of The Agreement (Fiscal Year 2011-2012), 50% Of The Tax; (2) For Year Three Of The Agreement (Fiscal Year 2012-2013), 45% Of The Tax; And (3) For Year Four Of The Agreement (Fiscal Year 2013-2014), 40% Of The Tax.
Attachments: 1. View Report.pdf, 2. View Supplemental Report.pdf, 3. 82089 CMS.pdf
Title
Subject:      One Work Place - Business Incentive Agreement
From:            Community and Economic Development Agency
Recommendation: Adopt A Resolution Authorizing A Business Incentive Agreement With One Workplace Ferrari, LLC ("OWP"), Requiring OWP To Expand And Maintain Its Business In The City For A Minimum Period Of Five Years In Exchange For The City's Disbursement To OWP Of Business Incentive Payments In Amounts Equal To The Percentage Of Sales And Use Tax Received By The City From OWP's Retail Sales For The Following Periods: (1) For Year Two Of The Agreement (Fiscal Year 2011-2012), 50% Of The Tax; (2) For Year Three Of The Agreement (Fiscal Year 2012-2013), 45% Of The Tax; And (3) For Year Four Of The Agreement (Fiscal Year 2013-2014), 40% Of The Tax.