As used in this article, the following words
or phrases shall have the following meanings:
LERTA DISTRICT
Any industrial, commercial or other business property owned
by an individual, association or corporation and located in the area
which has been designated as an area eligible for tax exemption relief
under the Local Economic Revitalization Tax Assistance Act, Act No.
76 of 1977, 72 P.S. § 4722 et seq.
IMPROVEMENTS(S)
Any repair, construction or reconstruction, including alterations
or additions, having the effect of rehabilitating a property within
the LERTA District so that it 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 or maintenance shall not be deemed an improvement.
TOWNSHIP
The Township of Concord, Delaware County, Pennsylvania.
The schedule of real estate taxes to be exempted
shall be in accordance with the following percentage of improvements
to be exempted each year:
Year
|
Amount Exempted
|
---|
1
|
50%
|
2
|
40%
|
3
|
30%
|
4
|
20%
|
5
|
10%
|
If any part of this article is for any reason
found to be illegal or invalid, such illegality or invalidation shall
not affect any of the remaining parts of this article, which shall
continue to be fully operative as if the illegal or invalid part had
not been enacted.
All ordinances or parts of ordinances inconsistent
herewith are hereby repealed to the extent of any inconsistency.
This article shall become effective five days
after adoption.