Minutes 11/12/1996 - Laserfiche WebLink

Home Browse Search

TUESDAY. NOVEMBER 12, 1996 will be in the amount of one hundred percent (100%) of the fee paid at the time of tipping. 'The refund will be upon approved application at the completion of the project. This incentive is retroactive to January 1, 1996. Waiver of Water and Sewer Regulations for MultiDle Service on One Meter. The City shall waive connection regulations. for new businesses or expansions of existing businesses in the Zone for designated Qualification for Benefits for the purpose of creating or retaining Jobs. Regulations shall be waived based upon City procedures and guidelines. Waiver of BuildinQ Permit Fees. The City shall waive building permit fees for new and expanding operations under the designated Qualification for Benefits within the Zone. Partial ExemDtion from Taxation of SubstantialIV Rehabilitated Real Estate. Pursuant to Virginia Code Section 58.1-3221. The City shall refund to the owner, real estate taxes paid for projects under the Qualification for Benefits for new investments for substantial rehabilitation, renovation, or replacement. No minimum investment is required for this incentive. The refund shall be calculated by the following percentages over the increase in assessed value resulting from the rehabilitation, renovation, or replacement: 100% for 1st tax year 50% for 2nd, 3rd, 4th, and 5th tax year The structure must be no less than fifteen (15) years of age and any replacement structure may exceed the total square footage of the replaced structure by no more than 110%. Application Any business seeking to receive local Enterprise Zone incentives shall make application to the Enterprise Zone Administrator on forms provided by the Administrator. The Enterprise Zone Administrator shall require the business to provide documentation establishing that it has met the requirements for the receipt of local Enterprise Zone incentives. Failure to provide requested documentation shall result in a denial of the application for local incentives. Enterprise Zone Administrator The Enterprise Zone Administrator shall be the City Manager or his designee. Term of Ordinance This Ordinance shall be in full force and in effect for a period of twenty (20) years from January 1, 1996, the date of approval of Enterprise Zone status, unless re-enacted or amended. BE IT FURTHER ORDAINED that, an emergency existing, this Ordinance shall become effective immediately upon adoption.