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d) Any project with a capital inVestMeni Of MOM thAn ten WUiOD dollars ($10,000,00% <br />i.ollaftwo d -h million dollars <br />,f,u an out alf <br />(SZ500,0()O). or creating more than two hundred twatqflve (225) Jobs will be individually <br />negotiated. No abatement will be granted for more than specifted in state law. <br />Zan an <br />lfz=MycrakdbuskessbIocaWorwiUlocalewW&DO <br />additional 10 to 20% abatement may be available as Wividually nagafiat4 with total <br />abateowd DOt to exceed IOOSL <br />VI. Tax Abatement for Persolial PrGPcrtY; Craflon of Jobs: <br />The City tccognizes a significant difference in the valuation of real property and <br />PCOMW propegy. Beause of dtpedation schedules, ofto the abatement Of PMSO1W PrOPertY is <br />versu MW <br />this the abatement schedule for Permnal FqrAY s <br />pmperty is sjgWfi=tly diftent. If pvrmal propwy should became obsolete and be replaced <br />while under an abilii =t '.1 ...1 the Tepigmnea, penonal pnVerty is not ebJe for <br />abatenvent <br />a) To be eli1pble for any tax abatement on PermW Propaity, there must be a minimum <br />capital lovestma of S250,000 in Personal Ptopcdy and id )east ten 0 0) n6w Jobs added to the <br />Employer's labor force. <br />b) When an abatonent percentage has been agreed upon it shall be granted for yexs <br />one (1) through three (3y, thereafter, there vAll be a 20% reduction in the MOW amcAmt AbaW <br />ars Wr <br />boginning with year four (4) and a similar reduction of 20% in each of the n0d three A 11 <br />IWA of he pad property valuation is added to the, tax FOUL <br />MW <br />ff.. MmAk*& <br />.77pr <br />hAlfiniffin 00 ; <br />will be inodividually nc,01219d. NO abgment will be granted for more than Spec' k--fttr- <br />law. <br />