2012-93 AMENDING THE DECATUR MACON COUNTY ENTERPRISE ZONE - TERMINATION DATE - TAX ABATEMENT

Home Browse Search

t 9) cash advance, pay day loan and title loan stores G. With the exception of projects outlined in Section 5.E, 5.E.1 and 5.E.2 above, the following categories of projects within the general boundaries of the Decatur Macon County Enterprise Zone shall be ineligible for any property tax abatement as provided herein: 1) general retail merchandise 2) eating and drinking establishments 3) hotels/motels 4) self-storage(mini warehouse facilities) 5) automobile service station 6) automatic or self service coin operated car wash 7) automobile storage yard 8) automobile repair and service 9) commodity scrap processing 10) convenience food and beverage store 11) gasoline station 12) package liquor store 13) recycling facility 14) cash advance, pay day loan and title loan stores H. Entities meeting qualification criteria outlined above must enter into a Memorandum of Understanding with the City of Decatur through its Enterprise Zone Administrator, outlining projected job creation and/or job retention and capital investment for the eligible office, manufacturing or distribution projects or documentation that minimum increases in equalized assessed valuation have been met for eligible retail, restaurant, hotel/motel and commercial projects, and said Administrator is hereby authorized to enter such agreements on behalf of the City. 1) Entities receiving property tax abatement for eligible office, warehouse/distribution and industrial/manufacturing projects must agree to maintain a minimum of 90% of the employment levels at that location as described in the Memorandum of Understanding for the term of abatement. At the discretion of the Enterprise Zone Administrator, with the guidance and concurrence of the Enterprise Zone Advisory Board, failure to maintain a minimum of 90%of the employment levels during the agreement period may result in the immediate termination of remaining abatement and/or the pro-rata repayment of previously abated real property taxes to the applicable taxing districts. 2) Entities receiving property tax abatement for eligible retail, restaurant, hotel/motel and commercial projects must provide documentation of increased assessed valuation as a result of the project in the form of a Notice of Assessment Change from the Macon County Supervisor of Assessment's Office.