(A) A property assessment or reassessment moratorium program, hereinafter referred to as program, for existing residential properties and commercial facilities in the city for the purpose of encouraging the repair, restoration, rehabilitation or stabilization of improvements thereon be and hereby is established.
(B) Property assessment or reassessment moratoriums certified under this program shall be for a period of five years.
(C) The Office of the City Clerk is hereby designated as the administering agency and is delegated the responsibility of administering the program pursuant to the provisions of this subchapter.
(Ord. 551, passed 6-28-94)