[HISTORY: Adopted by the Town Board of the
Town of Tonawanda 3-9-2009 by L.L. No. 1-2009. Amendments noted where
applicable.]
Pursuant to the provisions contained in § 485-b
of the Real Property Tax Law, the Town of Tonawanda hereby establishes
a board to be known as the "Industrial and Commercial Incentive Board"
(hereinafter referred to as "ICIB").
The ICIB shall consist of five members, including
a Chairman, to be appointed by the Town Board by resolution.
A.
Powers and duties. The ICIB shall have the powers
and duties prescribed by § 485-b of the Real Property Tax
Law of the State of New York and shall present a plan to the Town
Board of the Town of Tonawanda concerning the various types of business
and real property which should be granted eligibility for such exemption.
B.
Reports. The ICIB shall, within a time to be fixed
by the Town Board, present a report and plan to the Town Board concerning
the following:
(1)
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.
(2)
Limiting the applicability of the exemption to specific
divisions and major groups as defined in the Standard Industrial Classification
Manual published by the United States Government.
(3)
Whether the exemption shall be computed in the manner
specified in Subdivision 2 or 12 of Real Property Tax Law § 485-b.
(4)
Specific geographic areas of the Town within which
the exemption should be offered.
(5)
Reduction of the per centum of exemption otherwise
allowed pursuant to Real Property Tax Law § 485-b.
(6)
The minimum value of construction, alteration, installation
or improvement required to qualify for the exemption.
(7)
Other actions deemed desirable to improve the economic
climate within the Town.
(8)
Other factors as the Town Board may direct.
In developing the plan and report to the Town
Board, the ICIB shall consider:
A.
The planning objectives of the Town and the areas
thereof within which exemptions pursuant to Real Property Tax Law
§ 485-b shall be offered;
B.
The necessity of the exemption to the attraction or
retention of business;
C.
The creation or retention of permanent private-sector
jobs;
D.
The need to allow the exemption to provide employment
opportunities and broaden the tax base; and
E.
Other factors the ICIB deems relevant.
