HomeMy WebLinkAbout2015-02-8216184769ver2
AN ORDINANCE REPEALING ARTICLE II, PROPERTY ASSESSMENT
AND REASSESSMENT MORATORIUM OF CHAPTER 106, TAXATION OF THE
CODE OF ORDINANCES AND RE-CREATING CHAPTER 106, ARTICLE II.
ESTABLISHING AND APPROVING THE DOWNTOWN AND MARKET HOUSE
HISTORIC DISTRICT ASSESSMENT AND REASSESSMENT MORATORIUM FOR
_. CITY OF PADUCAH TAXES, AND AUTHORIZING THE DIRECTOR OF PLANNING
TO ADMINISTER THE PROGRAM
WHEREAS, KRS, 99.595 through 99.605 and KRS 132.452 permit local
governments to establish property assessment and reassessment moratoriums for qualifying
properties; and
WHEREAS, the City of Paducah wishes to take advantage of the provisions of
these laws to encourage the repair, rehabilitation, restoration or stabilization of existing real
property in the City of Paducah, Kentucky:
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF
COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah hereby repeals Article II, Property
Assessment and Reassessment Moratorium of Chapter 106, Taxation of the Code of Ordinances
of the City of Paducah, Kentucky in its entirety.
SECTION 2. There is hereby established a program for the granting of property
assessment or reassessment moratoriums for qualifying units of real property located in the
Downtown & Market House Historic Districts (Map #1).
To be eligible, an existing residential building must have been in existence for at
least fifty years (50) in the Target Area and must be used to provide independent living facilities
for one (1) or more persons.
To be eligible, a commercial facility must have been in existence for at least fifty
years (50) in the Target Area and must have as its primary purpose and use the operation of a
commercial business enterprise.
To be eligible, the costs of improvements to the commercial facility or the
existing residential building, including materials and labor must exceed $75,000.00.
To be eligible, the rehabilitated portion of the commercial facility or the existing
residential building must comply with all applicable building codes.
To be eligible, all required permits (i.e. zoning, building, etc.) must have been
obtained, the real property upon which the commercial facility or the existing residential building
sits must be free of any liens held by the City of Paducah, and all property taxes and any and all
other governmental levies, assessments or taxes of every kind and nature whatsoever, which are
assessed, levied, imposed upon, or would become due and payable out of or with respect to the
real property upon which the commercial facility or the existing residential building sits must be
paid, including without limitation business license fees.
SECTION 3: The administering agency for this moratorium program shall be the
City of Paducah Department of Planning.
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SECTION 4: All moratoriums shall be for a period of five (5) years, and each
shall become effective on the assessment date next following the issuance of the moratorium
certificate.
SECTION 5. Any moratorium providing an economic benefit to the applicant
above $20,000 shall require approval by the Commission of the City of Paducah.
SECTION 6. Applications shall be made to the administering agency for a
property assessment or reassessment moratorium certificate as follows:
(1) The application shall be on a form prescribed by the Department of
Revenue and shall be filed in the manner prescribed by the Department of
Planning.
(2) The application shall be filed with the administering agency thirty (30)
days before commencing the restoration, repair, rehabilitation, or
stabilization.
(3) The application shall contain the following:
(a) A general description of the property;
(b) A general description of the proposed use of the property;
(c) The general nature and extent of restoration, repair, rehabilitation
or stabilization to be undertaken and cost estimates based on bids
submitted to the applicant;
(d) A time schedule for undertaking and completing the project;
(e) If the property is a commercial facility, the application shall
contain a descriptive list of the permanent building equipment
which will be a part of the facility and a statement of the economic
advantages expected from the moratorium, including expected
construction employment.
(f) Proof that the commercial facility or the existing residential
building is at least fifty (50) years old.
SECTION 7. The Property Valuation Administrator and the Department of
Planning shall maintain a record of all applications for a property assessment or reassessment
moratorium. The PVA shall assess or reassess the property within thirty (30) days of receipt of
the application. This assessment shall be the value for which the City of Paducah taxes are to be
levied for five (5) years after the moratorium certificate has been issued.
SECTION 8: The applicant shall have two (2) years in which to complete the
improvements unless granted an extension in writing by the Department of Planning and the
Paducah City Commission. In no case shall the application be extended beyond two (2)
additional years. This provision shall not preclude normal reassessment of the property.
SECTION 9. Any application not acted upon by the applicant shall become void
two (2) years from the date of application and shall be purged from the files of the PVA and the
Department of Planning.
SECTION 10. The applicant shall notify the Department of Planning when the
project is complete, and the Department of Planning shall then conduct an on-site inspection of
the property for purposes of verifying that the improvements described in the application have
been completed. Only after the project is complete and the improvements verified shall the
moratorium certificate be issued by Department of Planning.
SECTION 11. An assessment or reassessment moratorium certificate may be
transferred or assigned by the holder of the certificate to a new owner or lessee of the property.
SECTION 12. At the end of the moratorium period, whether by expiration,
cancellation or revocation, the Department of Planning shall send the applicant and the PVA a
letter advising of the end of the moratorium and the reassess of the property. On the assessment
date next following the expiration, cancellation or revocation of an assessment or reassessment
moratorium, the property shall be assessed on the basis of its full fair cash value.
SECTION 13. Any property granted an assessment or reassessment moratorium
may be eligible for a subsequent moratorium certification provided that reapplication be made no
sooner that three (3) years following the expiration of the original moratorium.
SECTION 14. Definitions for interpreting this ordinance shall be those outlined
in KRS Chapter 99 relating to property assessment and reassessment moratoriums.
SECTION 15. Severability. If any section, paragraph or provision of this
=°T Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such section, paragraph or provision shall not affect any of the remaining
provisions of this Ordinance.
SECTION 16. Compliance With Open Meetings Laws. The City Commission
hereby finds and determines that all formal actions relative to the adoption of this Ordinance
were taken in an open meeting of this City Commission, and that all deliberations of this City
Commission and of its committees, if any, which resulted in formal action, were in meetings
open to the public, in full compliance with applicable legal requirements.
SECTION 17. Conflicts. All ordinances, resolutions, orders or parts thereof in
conflict with the provisions of this Ordinance are, to the extent of such conflict, hereby repealed
and the provisions of this Ordinance shall prevail and be given effect.
SECTION 18. Effective Date. This Ordinance shall be read on two separate
days and will become effective upon summary publication pursuant to KRS Chapter 424.
ATTEST:
Tammara S. Sanderson, City Clerk
Introduced by the Board of Commissioners, February 10, 2015
Adopted by the Board of Commissioners, February 24, 2015
Recorded by Tammara S. Sanderson, City Clerk, 24, 2015
Published by The Paducah Sun, March 12, 2015
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