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~ 7.5-5 MARTINSVILLE CODE ..-', (2) Plant expansion. Investment in real property, machinery and tools, and/or business equipment for the purpose of enlarging the volume or scope of a particular qualified business firm. (3) New operation. Establishment of a qualified business firm not previously in existence through the construction/investment in new buildings, facilities, machinery and equipment, and/or business equipment; or investment in an existing building facility, machinery and/or business equipment vacant or out of production for at least twelve (12) months. (Ord. No. 96-11, 11-12-96; Ord. No. 2000-1, 1-11-00) Sec. 7.5-6. Local enterprise zone incentives. All business firms as herein defined which meet the eligibility requirements established in section 7.5-5 shall be entitled to the following incentives and the city shall make grants to the industrial development authority of the city (IDA), as follows: (1) Real estatelDAgrants. Grant to the IDA in sum equal to the real estate taxes paid for projects under the qualification for benefits for new investments for plant moderniza- tion, plant expansion, or new operation for the purpose of creating or retaining jobs within the zone. No minimum investment is required for this grant. The grant shall be calculated by the following percentages over the company's real property tax base for that location at the time of the new investment: 100% for 1st tax year 50% for 2nd, 3rd, 4th, and 5th tax year (2) Machinery and tools and/or business equipment IDA grants. Grants to the IDA in sum equal to the machinery and tools and/or business equipment tax paid for projects under the qualification for benefits for investments in equipment modernization, plant expansion, or new operations for the purpose of creating or retaining jobs within the enterprise zone. No minimum investment is required for this grant. The grant shall be calculated by the following percentages over the company's machinery and tools tax base at the time of the new investment: 100% for 1st year 50% for 2nd, 3rd, 4th, and 5th tax years (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 sanitary landfill. Submission of a demolition and construction development plan will be required. These refunds will be in the amount of one hundred (100) percent 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 ~, Supp. No. 48 466