HomeMy WebLinkAboutMO # 367578
MUNICIPAL ORDER NO. 367
A MUNICIPAL ORDER AUTHORIZING THE MAYOR AND CITY COMMISSIONERS TO APPROVE THE
APPLICATION OF CARL E. & D. ERNESTINE GRINSTEAD TO OPERATE A BUSINESS IN THE OPPORTUNITY ZONE,
WHEREAS,'the Board of Commissioners has received an application from
Carl E. &.D. Ernestine Grinstead 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 Carl E. & D. Ernestine Grinstead are hereby approved,
and this business, located at 134 South Third Street, 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 September 23, 1986
Recorded by Lenita Smith, City Clerk, September 23, 1986