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HomeMy WebLinkAboutMO # 304524 MUNICIPAL ORDER NO. 304 A MUNICIPAL ORDER AUTHORIZING THE MAYOR AND CITY COMMISSIONERS TO APPROVE THE APPLICATION OF ACE COOLING & HEATING TO OPERATE A BUSINESS IN THE OPPORTUNITY ZONE, WHEREAS, the Board of Commissioners has received an application from Ace Cooling & Heating 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 Ace Cooling & Heating 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 March 25, 1986 Recorded by Lenita Smith, City Clerk, March 25, 1986