ORDINANCE NO. BL2014-990

An ordinance amending Chapter 2.212 of the Metropolitan Code to modify the eligibility requirements for obtaining small business economic development incentive grants.

BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. Section 2.212.010 of the Metropolitan Code is hereby amended as follows:

I. By amending the definition of “Prohibited business” by deleting the word “retail,”.

II. By deleting the definition of “Qualified small business” in its entirety and substituting with the following new definition:

"Qualified small business" means a company or firm that meets all of the following criteria:
1. The company or firm is engaged in a for-profit service or manufacturing industry that is not a prohibited business as defined herein;
2. Creates a minimum of ten (10) new full-time equivalent jobs at the qualified project site within a twelve (12) month period at the qualified project site who are making an average wage rate equal to or greater than eighty percent (80%) of the annual wage rate average for all occupations within the Nashville-Davidson County Metropolitan Statistical Area as published by the United States Department of Labor, Bureau of Labor Statistics; and
3. Has a maximum of one hundred (100) full-time equivalent jobs prior to applying for a small business economic development incentive grant under this Chapter.

Section 2. That this Ordinance shall take effect immediately after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Jerry Maynard, Burkley Allen, Sandra Moore, Jacobia Dowell, Erica Gilmore, Tony Tenpenny, Anthony Davis, Tim Garrett

LEGISLATIVE HISTORY
Introduced:	December 16, 2014
Passed First Reading:	December 16, 2014
Referred to:	Budget & Finance Committee
Passed Second Reading:	January 6, 2015
Passed Third Reading:	January 20, 2015
Approved:	January 27, 2015
By: