When construction or rehabilitation has been determined to be completed, assessment deferral will commence the first full tax year following the issuance of a certificate of occupancy from the Building Department. The building owner will be responsible for obtaining a certificate of occupancy within a reasonable time period following completion of the project. Failure to obtain the certificate by October 1 following the completion of the project will result in the forfeiture of that year's assessment deferral. Failure to obtain the certificate within 12 months of completion of the project will result in permanent forfeiture of benefits.
(1967 Code, § 21-28) (Ord. passed 1-10-1989)