[Adopted 8-13-2001 by L.L. No. 4-2001]
[Amended 2-28-2012 by L.L. No. 4-2012]
A. 
Eligibility for exemption from taxation and specific ad valorem levies authorized by Real Property Tax Law § 485-b shall be available in the following classification categories:
(1) 
Enhancement areas, as shown on the maps of enhancement areas set forth in the final report and recommendation of the ICIB dated September 2011 which are hereby adopted by reference and declared to be part of this article. The maps of the enhancement areas shall be maintained on file in the office of the Village Clerk.
B. 
Eligibility for exemption shall be restricted to those businesses which are found only in the designated enhancement areas and have an eligible land use classification as delineated in the North American Industry Classification System (NAICS).
[Amended 2-28-2012 by L.L. No. 4-2012]
The cost of construction, alteration, installation or improvement of eligible properties must exceed $50,000 to qualify for the exemption as computed pursuant to Subdivision 2 of § 485-b of the New York State Real Property Tax Law.
The Village Board shall periodically reconvene an Industrial and Commercial Incentive Board for the purpose of reviewing the impact of the New York State Real Property Tax Law § 485-b program, including the defined enhancement areas. The reconvened Incentive Board shall, upon conclusion of their review, report back to the Williamsville Village Board with recommendations.