Only personal tangible property taxes and locally levied real property taxes shall be the subject of negotiations and recommendations of and by the Negotiating Board. No taxes collected or assessed prior to the implementation of any tax Enterprise Zone agreement entered into pursuant to the Alliance Enterprise Zone program shall be affected in any manner whatsoever. Incentives may be granted for these five types of eligible projects:
Type 1. | Establishing a new business. |
Type 2. | Expand - means to make expenditures to add land, buildings, machinery and equipment to an existing facility that equals at least ten percent (10%) of the market value of the facility prior to such expenditures. |
Type 3. | Renovate - means to make expenditures to alter or repair an existing facility that equal at least fifty percent (50%) of the market value of the facility prior to such expenditures. |
Type 4. | Occupy - means to make expenditures to alter or repair a vacant facility equal to at least twenty percent (20%) of the market value of the facility prior to such expenditures. |
Type 5. | Large manufacturing facility - a special provision in the law. |
(Ord. 101-90. Passed 11-5-90.)