(A) Where an area has been designated as an economic revitalization area, such status shall expire five years after the date of designation; however, such expiration shall not affect any persons, firms, organizations or corporations who have applied for and received tax abatement status, in accordance with the law.
(B) This chapter shall not give any person, firm, organization or corporation any rights as to tax abatement status as would be for a longer period of time, or greater than as provided by the laws of the state.
(‘85 Code, § 13.04(h),(i)) (Ord. 18-1981, passed - -81; Am. Ord. 1-1987, passed 1-12-87)