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In
order for the County and taxing jurisdictions effected by
the “applicant project” to have the ability to evaluate and
adopt “Payment in Lieu of Taxes” (PILOT) Agreements that will
be beneficial to the developer and the community, the following
policy schedule is proposed:
For
projects that fit the following categories: Industrial/Manufacturing,
Warehouse/Distribution Facilities, Commercial/Retail Facilities/Office
Buildings/Community Facilities.
Projects
with a greater economic impact based on an economic assessment
will be eligible for Schedule A. if they include a high level
of commitment for: permanent payroll level in terms of number
of jobs created, number of potential spin off jobs, investment
in total project, local business impact, and community investment.
•
Sales Tax Exemption
•
Mortgage Recording Tax Exemption; and
•
10 Year Property Tax Abatement with a Fixed “Initial Period”
Assessment as outlined below:
Schedule
A:
Schedule B:
Year
1 100% Year
1 50%
Year
2 100%
Year 2 45%
Year
3 50%
Year 3 40%
Year
4 45%
Year 4 35%
Year
5 40%
Year 5 30%
Year
6 35%
Year 6 25%
Year
7 30%
Year 7 20%
Year
8 20%
Year 8 15%
Year
9 10%
Year 9 10%
Year
10 5%
Year 10 5%
Please
note: Projects with a lessor economic impact based on an economic
assessment will be eligible for Schedule B. if they do
not include a high level of commitment for: permanent
payroll level in terms of number of jobs created, and/or number
of potential spin off jobs, and/or high investment in total
project, or a local business impact, and/or community investment.
See
"Straight Lease Transaction"
for other benefits.
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