11-D Tax Exempt Hist Distr Ord - Laserfiche WebLink

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thousand dollars ($10,000.00) for property zoned or used for retail, office, commercial, or central area district purposes. Only expenditures for improvements to the exterior of structures, such as improvements to the foundation, roof, outer walls, and fences, and/or expenditures for improvements to the property which would require the issuance of a Certificate of Appropriateness under the City’s Historic Preservation Ordinance, shall be eligible to qualify for tax exemption. Expenditures on the interior of a structure shall not be used in determining whether a property has qualified for tax exemption. 4.Tax exemption will be considered for eligible projects resulting in an expenditure for new, historically compatible construction on the property in an amount of not less than one hundred thousand dollars ($100,000) for property zoned or used for residential purposes, and not less than two hundred thousand dollars ($200,000) for property zoned or used for retail, office, commercial, or central area district purposes. Only expenditures for the cost of constructing new, historically compatible structures, which would require the issuance of a Certificate of Appropriateness under the City’s Historic Preservation Ordinance, shall be eligible to qualify for tax exemption. 5.To be eligible for such an exemption, no property taxes may be owed on the property itself, and the property owner must be current in the payment of all property taxes for property owned and located within the City of Paris at the time of application and throughout the term of the exemption. 6.All construction must be performed in full compliance with all applicable city codes. (e) Grant of tax exemption discretionary - The grant of any tax exemption shall be at the sole discretion of the City Council of the City of Paris, and the creation of this policy providing for such tax exemption shall not in any way be construed to imply that any applicant for tax exemption under this Article IV has the right or entitlement to any such tax exemption. In exercising such discretion, the City Council may by future policy, amendments or otherwise determine those tax exemptions which best serve the needs of the City of Paris for preservation of historical structures or for the construction of new, historically compatible structures relative to the tax revenue lost as the result of such exemption.” Section 3. That Article IV to Chapter 30 of the Code of Ordinances of the City of Paris, at paragraphs (c) and (d) of Section 30-51, is hereby amended to refer to new historically compatible construction, said amended paragraphs to read as follows: -4-