The following terms shall have the meanings defined below:
EXCISE TAX
That fee paid by the owner of a motor vehicle to the City
of Saco for the yearly registration of said vehicle as required by
36 M.R.S.A. § 1482, as amended from time to time.
INCENTIVE PAYMENT
A figure calculated and based upon the actual excise tax
fees paid on vehicles registered in Saco by the applicant.
OFFICE
A place of business open to the public during regular hours,
staffed by two or more persons, with a working, advertised telephone
number.
VEHICLE
Truck, car or other motor vehicle which is held out to the
public for use, sale, or for lease by the day, week or month, or that
is otherwise based, stored and operated out of Saco as part of the
enterprise's businesses operations.
An enterprise with a place of business or operations in Saco will be eligible for, and may apply for, an incentive payment for a vehicle kept, stored or based in Saco, Maine, provided that the conditions set forth below in §
172-5 are met. The Finance Office of the City shall be authorized and empowered to effectuate this incentive program, and it shall report each year to the City Administrator as to those funds received, and the funds appropriated hereunder.
The amount of the incentive will be as follows:
A. Two percent on the first 500 vehicles registered in Saco.
B. Three percent on the next 500 vehicles registered in Saco.
C. Four percent on the next 500 vehicles registered in Saco.
D. Five percent on each vehicle thereafter registered in Saco.
Applicants that have registered at least 10 vehicles in Saco
may qualify for an incentive payment if they meet the conditions found
below in both Subsections A and B, provided that:
A. The party can conclusively establish that it has for the course of
the prior year maintained a business or office in Saco, Maine. Said
business or office must be open during regular business hours and
must have an advertised working telephone number; and
B. The party has increased its employment at its Saco office by at least
one half-time position over the prior year, or 2) that it has increased
the number of vehicles it registered in Saco by 5% over the prior
year, or 3) that it has registered at least 100 vehicles over the
course of the year, or 4) that it has expanded its operations and
physical facilities within Saco by $25,000 in new property value.
The City shall calculate the incentive program June 30 of each year by reviewing those registrations paid by the applicant between July 1 of the prior year and June 30 of the then current year. If the conditions set forth in §
172-5A and
B are both met, the City shall pay the incentive fee 30 days thereafter from a designated fund.