[Adopted 10-10-1994 by L.L. No. 4-1994]
Real property constructed, altered, installed or improved in an area designated an economic development zone pursuant to Article 18-B of the New York State General Municipal Law is exempt from taxation and special ad valorem levies by Cuba Village for a term of 10 years, notwithstanding that the designation of the zone may expire prior to the end of such ten-year term and to the extent provided in § 485-e of the New York State Real Property Tax Law.
This article shall be applicable only to exemptions commencing on assessment rolls with taxable status dates on and after the effective date of this article.