HomeMy WebLinkAboutMO # 302MUNICIPAL ORDER NO. 302
A MUNICIPAL ORDER AUTHORIZING THE MAYOR AND CITY COMMISSIONERS TO APPROVE THE
APPLICATION OF PORT O'CALL TO OPERATE A BUSINESS IN THE OPPORTUNITY ZONE,
WHEREAS, the Board of Commissioners has received an application from
Port O'Call 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 Port O'Call 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 (507) 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 pian 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 507 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 iri the
Opportunity Zone.
SECTION 2. This order will be in full force and effect frgm and after the date of
its adoption.
JOE VITERIS.I
Mayor
Adopted by the Board of Commissioners March 25, 1986
Recorded by Lenita Smith, City Clerk, March 25, 1986
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