An Industrial and Commercial Incentive Board for the Town of Eden consisting
of five members is hereby established pursuant to § 485-b of the
Real Property Tax Law. The Town Board shall appoint the members and designate
one of the members as Chairperson by resolution.
The Industrial and Commercial Incentive Board shall, within a time to
be fixed by the Town Board, present a plan and report to the Town Board concerning
the following:
A. The various types of business real property which should
be granted eligibility for exemption from taxation and specific ad valorem
levies authorized by Real Property Tax Law § 485-b.
B. Limiting the applicability of the exemption to specific
divisions and major groups of properties as defined in the Standard Industrial
Classification Manual published by the United States government.
C. Whether the exemption shall be computed in the manner
specified in Subdivision 2 or Subdivision 12 of the Real Property Tax Law
§ 485-b.
D. Specific geographic areas of the Town within which the
exemption should be offered.
E. Reduction of the per centum of exemption otherwise allowed
pursuant to Real Property Tax Law § 485-b.
F. The minimum value of construction, alteration, installation
or improvement required to qualify for the exemption.
G. Other actions deemed desirable to improve the economic
climate within the Town.
H. Other factors as the Town Board may direct.
In developing the plan and report to the Town Board, the Industrial
and Commercial Incentive Board shall consider the planning objectives of the
Town and the areas thereof within which exemptions pursuant to Real Property
Tax Law § 485-b shall be offered, the necessity of the exemption
to the attraction or retention of business, the creation or retention of permanent
private sector jobs, the need to allow the exemption to provide employment
opportunities and broaden the tax base and other factors which the Industrial
and Commercial Incentive Board deems relevant.