(A) Non-refundable fees for filing of applications for designation of economic revitalization areas, payable by the owner of new manufacturing equipment to the Department of Community Development at the time of filing are fixed as follows:
(1) $75 for projects where an investment in new manufacturing equipment is not more than $250,000;
(2) $150 for projects where an investment in new manufacturing equipment is more than $250,000 but not more than $500,000;
(3) $250 for projects where an investment in new manufacturing equipment is more than $500,000.
(B) Such fees so collected by the Department of Community Development shall be deposited into a special account to be known as the property tax abatement account; shall be expended to pay the costs of publication of public notices required herein and other administrative expenses incurred in the processing of applications for designation of economic revitalization areas, and shall not revert to the general fund.
(Ord. 2422, passed 6-6-83)