(A) Permissive exemption of manufacturing establishments from city taxation. As permitted by KRS 92.300, the City Council may exempt manufacturing establishments, including qualified data centers, from city taxation for a period not exceeding five years as an inducement to their location in the city.
(B) Written agreement required. Every qualifying manufacturing establishment receiving an exemption from taxation pursuant to this section shall be required to execute a written agreement with the city, which may be included in any such entity’s economic development incentive agreement entered into pursuant to § 35.09. The Mayor shall be authorized to execute the written agreement on behalf of the city.
(Ord. 21-06, passed 12-7-21)