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The Town of Bennett is committed to targeting new opportunities and expand existing growing businesses that diversify our economic base and continue to provide for the fiscal health of our community while respecting our environment and our unique small town feel. The Town of Bennett Economic Development Assistance (EDA) policy is created to:
This policy does not commit the Town to provide economic assistance. The policy is intended to customize economic development assistance, based upon the need of the project, and meeting long term community goals by the creation of a vibrant economically healthy community.
ELIGIBILITY REQUIREMENTS AND CRITERIA
The Town of Bennett, at its sole discretion, may provide certain economic development assistance based upon meeting the goals and objectives of the Town and its community. Participation in an EDA shall be based upon approval by the Town Board of Trustees, exercising its legislative discretion in good faith. Any owner or applicant of a newly established or proposed business, or the owner or applicant of an existing business which wishes to expand substantially, may apply to the Town provided that the new or expanded business is reasonably likely to generate enhanced or increased sales and/or use taxes, and/or permit fees. Applicants shall meet goals and objectives, established in the agreement, to achieve assistance. A majority of the members of the Town Board of Trustees must approve an application for assistance at a public meeting. Approvals shall be based upon meeting a majority of the following criteria:
The Town offers a variety of economic development assistance options for projects. The specific type of assistance will depend upon the needs of the business as well as the benefits created by the proposed business. Examples of the type of incentives and assistance available for a specific project are as follows:
Read more about the application process and the targeted businesses in the PDF below or download the printable version here.