Minutes 01/11/2000 - Laserfiche WebLink

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January 11,2000 and/or Business Equipment Tax Base at the time of the new investment: 100% for I st year 50% for 2nd, 3rd, 4th, and 5th tax year (3) Landfill Tipping Fee Refund. Refund of sanitary landfill tipping fees will be made for approved, certified asbestos-free construction and demolition debris delivered to the City of Martinsville sanitary landfill. Submission of a demolition and construction development plan will be required. These refunds 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. (4) Waiver of Water and Sewer Regulations for Multiple 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. (5) Waiver of Building Permit Fees. The City shall waive building permit fees for new and expanding operations under the designated Qualification for Benefits within the Zone. (6) Partial Exemption from Taxation of Substantially 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 1 st 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 re-placement structure may exceed the total square footage of the replaced structure by no more than 110%. Sec. 7.5-7. Application. Sec. 7.5-7. 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 ,m~t the requirements for the receipt of local Enterprise Zof~,e inChriVes. Failure to provide requested documentation Shall result in a denial of the application for local incentives. Sec. 7.5-8. Enterprise Zone Administrator.