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| Important dates for March 12, 2013: | |
| January 10 | Deadline for local governing bodies to file notice of measure with County |
| January 14 | Deadline for measure arguments to be filed for inclusion in voters’ pamphlet |
| January 18 | Voter Pamphlet filings become public record |
| February 19 | Deadline for new voter registration |
| Mail-out Dates: | |
| January 26 | Out of Country / Military ballots are mailed |
| February 11 | Out of State ballots are mailed |
| February 22 | Local and in-state ballots are mailed |
| March 22 | Last day to resolve unsigned ballot envelopes, or ballot envelopes with challenged signatures |
MEASURE 3-421
CITY OF WILSONVILLE
Caption:
BUSINESS INCENTIVE PROGRAM FOR INVESTMENT AND JOB CREATION BY MANUFACTURERS.
Question:
Shall urban renewal district zones be created to stimulate converting targeted warehouses to manufacturing by partially rebating property tax increment?
Summary:
Many cities offer financial incentive programs to attract business investment. Wilsonville proposes adopting an incentive program to target conversion of vacant or underutilized industrial buildings to manufacturing operations and create jobs.
Up to six buildings over 100,000 square feet in size would be established as Tax Increment Financing Zones. Each Zone would rebate to qualifying companies up to 75 percent of increased property tax increment for three years for investment of at least $25 million in capital improvements and/or qualified equipment, and creation of 75 or more new full-time jobs paying at least 125 percent of the average Clackamas County wage. Two additional years of rebate available if the 75 new jobs pay at least 150 percent of average county wage.
Each Zone would terminate 10 years after first rebate; non-performance by company would require repayment. If no qualifying investment occurs within five years of creating Zone, it would terminate.
Other taxing districts including schools and fire district would receive 25 percent of increased property tax increment.
Link to daily update of percentage returns on the Results Page, or click here.
