[Ord. No. 24-2011 §§1 — 9, 8-8-2011]
Should the application be approved by the City of Louisiana Enhanced Enterprise Zone Advisory Committee, the approved amount of taxes on improvements to real property will be abated from the date of approval by the Enhanced Enterprise Zone Advisory Board. The construction period will count toward the years of total abatement.
That eligible facilities shall include those companies which operate in Missouri under the following North American Industrial Classification Codes (NAICS). The primary clusters include:
After the application is received by the City of Louisiana, a meeting will be called of the City of Louisiana Enhanced Enterprise Zone Advisory Board and Planning and Zoning.
That eligible facilities will receive a minimum of fifty percent (50%) abatement of property taxes for improvements made to real property for a period of ten (10) years from assessment of improvements. See Exhibit "A" on file in the City offices for Benefit Level Option.
That eligible companies are required to file an application requesting abatement with the designated Administrator of the Enhanced Enterprise Zone and with Pike County Assessor prior to the end of the tax year in which the improvement was made in order to receive the abatement benefit.
The industry must notify the Louisiana City Administrator in writing when construction is completed. If extenuating circumstances prevent the industry from meeting the construction end date in the original application by the Enhanced Enterprise Zone Advisory Board, notification in the form of a letter detailing the circumstances that prevented the completion of construction must be made to the Louisiana City Administrator prior to the end date provided in the original application. The Enhanced Enterprise Zone Advisory Board will review the circumstances and determine if an extension should be granted.
On or before May first (1st) following the end date of construction, the industry must provide a notarized affidavit of proof of at least two (2) new full-time employees employed by the organization to the Louisiana City Administrator. The affidavit shall include documentation such as W-2s, State and Federal quarterly reports and utility bills for each new full-time equivalent employee. After this period, proof of employee retention shall be supplied in the same way.
If the industry does not meet the employee requirement no later that May first (1st) following the end date of construction, the industry shall be placed on the tax roll. The industry will also be required to repay previous years of abatement plus interest and penalties. If the industry fails to meet the employee requirement of May first (1st) following the end of construction, it will be ineligible for any abatement through the Enhanced Enterprise Zone from that date forward.
Any abatement or exemption provided for within the Enhanced Enterprise Zone designated area on an individual parcel of real property shall cease after a period of thirty (30) days of business closure, work stoppage, major reduction in force or a significant change in the type of business conducted at that location. For the purposes of this Enhanced Enterprise Zone, "work stoppage" shall not include strike or lockout or time necessary to retool a plant, and a "major reduction in force" is defined as a reduction of ninety-five percent (95%) or greater reduction in the number of persons actually working at the location. Any owner or new owner of the industry may reapply for exemption, but cannot receive the abatement or exemption for a period of time beyond the original life of the Enhanced Enterprise Zone.