There is hereby established a program for the granting of property assessment or reassessment moratoriums for qualifying residential buildings or commercial facilities located in the City. To be eligible, a residential building shall be any structure which is at least fifty (50) years old, and the use of which is to provide independent living facilities for one or more persons. To be eligible, a commercial facility shall be any structure at least fifty (50) years old, the primary purpose and use of which is the operation of a commercial business enterprise.
(Ord. BG80-63, S11-40, 7/15/80)