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provided herein for eligible Office/Knowledge-based, <br /> Warehouse/Distribution/Logistic(s) and Industrial/Manufacturing-based <br /> projects. <br /> C) City of Decatur, County of Macon,Village of Mt.Zion,Village of Forsyth and the <br /> Village of Long Creek - Retail/Commercial Property Tax Abatement - In no <br /> event shall any abatement of taxes on any parcel exceed the amount attributable <br /> to the construction of the improvements or the renovation or rehabilitation of <br /> existing improvements on such parcel. <br /> 1) That, with the adoption of this Agreement,taxes on real property levied by <br /> the City of Decatur, County of Macon,Village of Mt.Zion,Village of Forsyth <br /> and/or the Village of Long Creek,whichever is applicable, shall be abated <br /> on retail, restaurant, hotel/motel and commercial property developments <br /> located within the Zone with the exception of those projects outlined in <br /> SECTION 11 F above, and upon which new improvements have been <br /> constructed subsequent to such approval as follows: <br /> a) For taxes levied in the first year of abatement: 100% <br /> b) For taxes levied in the second year of abatement: 75% <br /> C) For taxes levied in the third year of abatement: 50% <br /> Said abatements shall be for three (3)consecutive years beginning with the <br /> real estate taxes payable in the year following the first full year of a <br /> facility's commercial operation after which said improvements have been <br /> made. Abatement for a specific project will cease after the third year or <br /> upon expiration,termination or decertification of the Decatur Macon <br /> County Enterprise Zone,whichever is sooner. <br /> 2) The above property tax abatements shall be applicable for eligible retail, <br /> restaurant, hotel/motel and commercial projects involving real property <br /> upon which construction, improvements, renovation or rehabilitation,for <br /> which a building permit is required, which results in an increase in the <br /> equalized assessed valuation of at least$25,000 has been completed after <br /> January 1, 2016 and prior to the expiration,termination or decertification <br /> of the Decatur Macon County Enterprise Zone. <br /> D) Eligibility- Questions as to the eligibility of a project will be decided by the <br /> Enterprise Zone Administrator, with advice and consent of the Enterprise Zone <br /> Advisory Board. <br /> E) Abatement Performance Monitoring Process. Entities meeting qualification <br /> criteria outlined above must enter into a Memorandum of Understanding with the <br /> Decatur Macon County Enterprise Zone through its Enterprise Zone Administrator, <br /> outlining projected job creation and/or job retention, and capital investment for <br />