In an effort to spur development of the Village's industrial sector, the Village of Valley View has designated a Community Reinvestment Area pursuant to State law. A Community Reinvestment Area is an area within which special tax incentives may be offered by contract to businesses which agree to invest in capital improvements and/or create and/or retain jobs. Tax incentives will be offered provided these program guidelines are met and a substantial investment is made. Jobs must be created and maintained. Each contract with a business within the zone relating to jobs, investment and tax incentives must be submitted to Council for approval.
(Ord. 89-2-9. Passed 2-7-89.)