Laserfiche WebLink
. . , <br /> • . � t <br /> B. The above property ta�c abatements shall be applicable for eligible <br /> office, warehouse/distribution and industrial real property upon which <br /> construction, improvements, renovation or rehabilitation has been completed after <br /> December 31, 2003 and before June 30, 2013. <br /> C. The following categories of projects within the boundaries of the City <br /> of Decatur Enterprise Zone shall be ineligible for any property tax abatement as <br /> provided herein: <br /> 1) general retail merchandise <br /> 2) eating and drinking establishments <br /> 3) hotels/motels <br /> 4) self-storage (mini warehouse facilities) <br /> 5) automobile service station <br /> 6) automatic or self service coin operated car wash <br /> 7) automobile storage yard <br /> 8) automobile repair and service <br /> 9) commodity scrap processing <br /> 10) convenience food and beverage store <br /> 11) gasoline station <br /> 12) package liquor store <br /> 13) recycling facility <br /> D. Both a muumum capital investment of One Hundred Fifty Thousand <br /> Dollars ($150,000.00) and the creation and/or retention of twenty-five (25) <br /> full-time jobs are necessary for a parcel to receive real tax abatement as provided <br /> herein for eligible office,warehouse/distribution and industrial projects. <br /> E. Entities meeting qualification criteria outlined above must enter into a <br /> Memorandum of Understanding with the City of Decatur through its Enterprise <br /> Zone Administrator, outlining projected job creation and/or job retention and <br /> capital investment for the eligible project, and said Administrator is hereby <br /> authorized to enter such agreements on behalf of the City. <br /> I. Entities receiving property tax abatement must agree to <br /> maintain a minimum of 90% of the employment levels at that <br /> location as described in the Memorandum of Understanding for the <br /> term of abatement. At the discretion of the Enterprise Zone <br /> Administrator, with the concurrence of the Enterprise Zone <br /> Advisory Board, failure to maintain a minimuxn of 90% of the 'i <br /> employment levels during the agreement period may result in the ', <br /> immediate termination of remaining abatement and/or the prorata ' <br /> repayment of previously abated real property taxes to the applicable <br /> taxing districts. <br />