The formula for determining the maximum available incentive is determined by estimating the sales volume over a 10-year period, minus a predefined percentage substitution for sales captured from existing retailers. Retail incentives for individual projects will be limited to 50% of the city’s anticipated net-new sales tax revenue.
Under the guidelines of the retail incentive program, a retailer is defined as a purveyor of consumer goods or services subject to sales tax.
Qualifying Use of Incentive
The “first draw” from the incentive will be applied to fees normally levied by the City of Bartlesville. These fees include but are not limited to water and sewer taps, sanitary sewer impact fee, building permits, storm-water fee-in-lieu, fire lines, etc. These fees will be waived by the City with no reimbursement.
The “second draw” against the incentive will be applied to required public infrastructure improvements that lie within the public right-of-way, including but not limited to sidewalks, sanitary sewer or water line extensions, storm drainage improvements, etc. Out of pocket costs for these improvements will be funded through the economic development sales tax with technical assistance and some labor where appropriate and available, to be provided by the City with no reimbursement.
The “third draw” against the incentive, will be provided as an incentive to stimulate additional property investments that exceed the minimum building and site development requirements to improve the aesthetic quality of commercial properties. This includes facade and aesthetic enhancements that will result in significant aesthetic or visual improvements to the exterior appearance of the building, for both new and existing buildings and sites, as seen from the street.
Targeted Brands Incentive Calculator
Retailers in this category have been specifically identified as priorities through market research. Targeted brand incentives will be discounted by 10% for substitution of sales captured from existing retailers. Incentive amounts are only estimates and are at the discretion of the Bartlesville City Council.
| Targeted Brands | |
|---|---|
| Sales entered | $5,000,000.00 |
| Discount for Sub | -10% |
| Net-New Sales | $4,500,000.00 |
| Sales Tax Rate | x3.4% |
| Annual Sales Tax Revenue | $153,000.00 |
| Total Tax Revenue (10 years) | $1,530,000.00 |
| Incentive Cap | -50% |
| Max Incentive | $765,000.00 |
General Merchandise and Services Incentive Calculator
General merchandise and services retailers are new or expanding stores or restaurants with annual sales of less than $5 million a year. Incentives in this category will be discounted by 80% for substitution of sales captured from existing retailers. Incentive amounts are only estimates and are at the discretion of the Bartlesville City Council.
| General Merchandise and Services | |
|---|---|
| Sales entered | $3,000,000.00 |
| Discount for Sub | -80% |
| Net-New Sales | $600,000.00 |
| Sales Tax Ratex | 3.4% |
| Annual Sales Tax Revenue | $20,400.00 |
| Total Tax Revenue (10 years) | $204,000.00 |
| Incentive Cap | -50% |
| Max Incentive | $102,000.00 |