In addition, the board shall:
A. Obtain information, analyze financial data and report to the Clovis city commission concerning any industrial, economic, commercial or business project requesting
or applying for financial assistance from the city, whether same be for industrial revenue bond financing, the Local Economic Development Act or the Development Incentive Act. Recommendations of the board are advisory only and are not binding on the city commission. Unless otherwise specified by ordinance or state law governing the procedures for evaluation, the procedures set forth in the ordinance codified in this chapter shall apply.
B. Whenever the city commission receives an application for assistance in connection with the establishment or construction of an industrial, commercial or business project or facility, the city commission shall direct the applicant to the board. The applicant shall be required to prepare a detailed application in writing, on a form to be provided by the board and submitted to it. The application shall be accompanied by an application fee in an amount to be established from time to time by resolution of the city commission. Proceeds from such application fees will be deposited with the city treasurer in a special account, which shall be used solely for purposes of funding the activities of the board. In no event shall any part of the application fee be refundable to the applicant, regardless of the cost of processing the application.
C. Upon receipt by the board of an application for municipal assistance completed in a manner satisfactory to it, the board shall forthwith commence an investigation of the applicant and of the matters contained in the application, which shall include an investigation of at least the following factors:
1. The legal status of the project described in the application, and whether or not the project can be lawfully instituted, constructed or operated with the municipal assistance proposed in the application;
2. The applicant itself (and if the applicant is a subsidiary of another firm owning a majority of stock in the applicant, the parent firm), to determine the financial status of the applicant and its ability to perform the duties which will be imposed upon the applicant as a result of the application;
3. The financial feasibility of the project;
4. Verification of the fact that the project will serve the public benefit of the citizens of the city, by providing its citizens with job opportunities and with a source of additional income;
5. The proposed technology for the project, to insure that the project will be in fact capable of achieving those purposes stated in the application;
6. Upon completion of the investigation, the board shall have the responsibility in formulating a written report concerning the application which it shall submit to the city commission. The written report shall detail the findings of the board and shall conclude with a recommendation to the city commission as to whether or not municipal financial assistance should be furnished to the applicant in connection with the proposed project. This shall be a recommendation only, and final authority for determining whether municipal assistance shall be given in connection with a proposed project shall be made solely by the city commission.
D. Should the board’s report to the city commission recommend that municipal assistance be given to the applicant, the written report will be accompanied by a suggested form of inducement resolution inviting the establishment of the project to be acted upon by the city commission in the regular course of its business. The inducement resolution shall contain such matters as may be required by law.
E. Should the city commission, with or without the recommendation of the board, determine that municipal financial assistance should be given to a firm desiring to construct or establish an industrial, commercial or business project within or near the corporate limits of the city, the city commission shall advise the board of the commission’s decision. Immediately thereafter, the board shall commence preparation of such proceedings as might be required by federal or state law or regulation in order to accomplish the purposes sought by the city commission. The boards work in preparation of formal legal proceedings shall be undertaken in consultation with appropriate officials of the city, representatives of the applicant and representatives of such other firms as the board shall consider necessary. In no event shall any formal legal proceedings be submitted to the city commission unless such proceedings are in compliance with all provisions of this code.
F. Upon the completion of those activities required by this section, the board shall cause to be submitted to the city commission all formal legal proceedings which shall be necessary for the completion of the financial assistance required by the firm desiring to construct or establish an industrial, commercial or business project within or near the corporate limits of the city. Upon submission of such proceedings, the duties of the board in connection with such proposed projects shall cease. (Ord. 1686-2001 § 3, 2001).