HomeMy WebLinkAboutMO # 290MUNICIPAL ORDER NO. 290
A MUNICIPAL ORDER AUTHORIZING THE MAYOR AND CITY COMMISSIONERS TO APPROVE THE
APPLICATION OF PEBCO TO OPERATE A BUSINESS IN THE OPPORTUNITY ZONE,
WHEREAS, the Board of Commissioners has received an application from
PEBCO to establish a business in the Opportunity Zone; and
WHEREAS, this application meets the criteria for operating a business in the
Opportunity Zone.
SECTION 1. The application of PEBCO is hereby approved, and this business is given
all the tax relief and other incentives offered by the Opportunity Zone, which include the
following:
(1) A five (5) year moratorium on investment in new personal property and a fifty
percent (50%) reduction in the tax assessed value of real estate used in
direct operation of the qualified enterprise's business within the Opportunity
Zone.
(2) A five year moratorium on business license fees.
(3) A reduction of one-half (1/2) for refuse fees for a period of five (5) years.
(4) A five (5) year moratorium on building and electrical plan review and building
permit fees.
(5) Issue at no cost for a period of two (2) years special' auto stickers for
employees of the qualified enterprise who reside outside the city.
(6) Reduce the employee earnings tax by 50% for all employees of the qualified
enterprise for a period of two (2) years.
(7) All of the tax relief referred to in paragraphs (1) through (6) above shall
start upon the opening of the business of the qualified enterprise in the
Opportunity Zone.
SECTION 2. This order will be in full force and effect from and after the date of
its adoption.
JOE VITERISI
Mayor
Adopted by the Board of Commissioners January 14, 1986
Recorded by Lenita Smith, City Clerk, January 14, 1986
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