(A) Purpose and intent. The purpose of this section is to address the issue of vacant properties within the city and to encourage property owners to maintain and utilize their properties in a productive manner. This section establishes a progressive vacant property redevelopment fee based on a percentage of the property’s assessed value to incentivize property owners to actively use or redevelop vacant properties.
(B) Fee rate schedule. A redevelopment ready fee shall be imposed annually on vacant properties within the city limits. The fee rate shall be determined as follows:
(1) For properties vacant for 12 to 24 consecutive months, the fee rate shall be 3% of the property’s assessed value;
(2) For properties vacant for 25 to 36 consecutive months, the fee rate shall be 5% of the property’s assessed value; and
(3) For properties vacant for 37 and/or more consecutive months, the fee rate shall be 9% of the property’s assessed value.
(C) Administration.
(1) The redevelopment ready fee shall be assessed and collected by the City Economic Development Department and under its purview or designee.
(2) Property owners shall be notified of the redevelopment ready fee and the applicable rate annually.
(3) Property owners who fail to pay the redevelopment ready fee by the designated due date shall be subject to penalty charges of $100 per day of nonpayment.
Fee Schedule | |
Registration Residential | $200 (every 180 days) |
Registration Commercial | $500 (every 180 days) |
Late Fees | $75 |
(Res. 2023-158b, passed 11-14-2023; Am. Res. 2024-45b, passed 5-28-24)