In order to minimize the loss of new tax revenues, only the minimum incentive necessary to bring about the investment will be offered. State law permits up to 100% abatement of new real and personal property taxes for up to ten years in a municipal corporation. Optional services or assistance may be provided to an eligible business by the municipality or county for a period up to ten years. Exemptions of 75% or more must have local school board approval by resolution.
(Ord. 93-8, passed 8-23-1993)