As used in this article, the following words shall have, unless
the context clearly indicates otherwise, the meanings given to them
in this section.
DETERIORATED AREAS
The following area within the Borough of Darby is determined
eligible for tax exemption under Act No. 76 of 1977: An area currently
zoned Highway Commercial (HC), Central Business District (CBD) or
Industrial (IND) as defined in the Official Darby Borough Zoning Map
as affixed hereto as Exhibit A, and lying within the following boundaries:
A.
Main Street from Cobbs Creek Parkway to Concord Road.
B.
Walnut Street from Front Street to 9th Street on New Walnut
Street.
C.
Quarry Street from 9th Street to Mill Street.
D.
MacDade Boulevard from 9th Street to Chester Pike to Cedar Avenue.
E.
Pine Street from 4th Street to Chester Pike.
DETERIORATED PROPERTY
Any industrial, commercial or other business property owned
by an individual, association or corporation and located in a deteriorating
area, as hereinbefore provided, or any such property which has been
the subject of an order by a government agency requiring the unit
to be vacated, condemned or demolished by reason of noncompliance
with laws, ordinances or regulations. Single-family, owner-occupied
residences and duplexes are excepted.
IMPROVEMENT
Any repair, construction or reconstruction, including alterations
and additions, having the effect of rehabilitating a deteriorated
property so that it becomes habitable or attains higher standards
of safety, health, economic use or amenity or is brought into compliance
with laws, ordinances or regulations governing such standards. Ordinary
upkeep and maintenance shall not be deemed an improvement.
The schedule of real estate taxes to be exempted shall be in
accordance with the following percentage of improvements to be exempted
each year:
Time Period
(years)
|
Amount Exempted
|
|
---|
1
|
100%
|
|
2
|
100%
|
|
3
|
70%
|
|
4
|
50%
|
|
5
|
40%
|
|
6
|
25%
|
|
7
|
10%
|
|
8
|
0%
|
|
After 8
|
No exemption
|
|