As used in this article, the following words and phrases shall have the meanings set forth herein:
(a) "Deteriorated property" means any industrial or commercial property and improvements thereon located in an investment opportunity area, as hereinafter provided, or any such property which has been the subject of an order by a government agency requiring the unit to be vacated, condemned or demolished by reason of noncompliance with laws, ordinances or regulations.
(b) "Improvement" means repair, construction or reconstruction, including alterations and additions, and construction of new structures having the effect of rehabilitating a deteriorated property so that it becomes habitable or attains higher standards of safety, health, use or amenity or is brought into compliance with laws, ordinances or regulations governing applicable standards. Ordinary upkeep and maintenance shall not be deemed an improvement. Improvements qualifying for exemption shall be those related to improvements to structures and related accessory uses.
(c) "Due date" means the date when current year City real estate taxes are last payable at penalty. The date shall at no time be later than December 31, unless this date shall fall on a non-business day or holiday, then the due date shall be extended to the next regular business day. Payments made by mail and postmarked by the US Postal Service on or prior to the actual due date set by the City Treasurer shall be accepted as timely.
(Ord. 19-2017. Passed 7-18-17.)