This article is enacted pursuant to the authority conferred
by New York State Real Property Tax Law § 485-n and shall
be called the "Town of Geneseo Real Property Tax Exemptions for Improvements
to Commercial or Residential Real Property."
It has been determined by the Town Council that it is in the
best interest of the public health, safety, and welfare to encourage
the investment in improvements in commercial or residential real properties.
It will serve the public interest to allow for certain qualified real
property tax exemptions in order to encourage investment in such improvements.
As used in this article, the following terms shall have the
following meanings:
APPLICANT
Any person obligated to pay real property taxes on real property
for which an exemption from taxes under this section is sought.
BENEFIT AREA
The area within the Town to which an exemption applies pursuant
to this article.
COMMERCIAL CONSTRUCTION WORK
The modernization, rehabilitation, expansion or other improvement
of commercial use property or the portion of mixed-use property to
be used for commercial purposes.
COMMERCIAL PURPOSE OR USE
The buying, selling, or otherwise providing of goods or services,
including hotel services, or other lawful business or commercial activities
permitted upon mixed-use property.
COMMERCIAL USE PROPERTY
Real property on which will exist, after completion of commercial
construction work, a building used for commercial purposes or use.
EXEMPTION BASE
The amount determined for each year in which there is an
increase in assessed value so attributable from that of the previous
year's assessed value.
MIXED-USE PROPERTY
Real property on which will exist, after completion of residential
construction work or a combination of residential construction work
and commercial construction work, a building or structure used for
both residential and commercial purposes.
RESIDENTIAL CONSTRUCTION WORK
The creation, modernization, rehabilitation, expansion, or
other improvement of dwelling units, other than dwelling units in
a hotel, in the portion of mixed-use property to be used for residential
purposes.
There is hereby established the authority of the Town Council to appoint a Commercial/Mixed-Use Incentive Board ("CMUIB"). If during the effective period of this article there shall not be in existence a previously designated business district, as defined at §§
96-17 and
96-18 hereof, the CMUIB shall be constituted and have the duties as hereinafter provided.
A. The CMUIB shall consist of three members appointed by the Town Council
for the terms as set by the Town Council.
B. The CMUIB shall present a plan to the Town Council concerning the
various types of commercial and/or mixed-use properties that may be
granted an exemption pursuant to this article. Said plan shall:
(1) Identify designated benefit areas;
(2) Consider the planning objectives of the Town;
(3) Determine the necessity of the exemption for the attraction of commercial
and mixed-use development as identified by the Town; and
(4) Determine the economic benefit of providing exemptions to commercial
and mixed-use properties to the benefit area.
In instances when the Town has previously designated a business
district encompassing a defined area that was subject to public input
and was approved by, and received funding for economic development
purposes from, a state agency, the Town may utilize the defined boundaries
of such previously defined area, or a combination of such boundaries
with properties subject to review by the CMUIB to determine the benefit
area.
As of the effective date of this article there is in existence a previously designated business district (the "District") which satisfies the criteria of §
96-17 hereof. The tax parcels situated within the District are entitled to apply for the real property tax exemptions authorized by this article, provided that the Town Assessor has determined that the requirements of §§
96-19A and
B and
96-20 hereof have been satisfied. The District consists of the area within which the tax parcels listed and depicted on Schedule A hereof are located in the Village of Geneseo. Schedule A is hereby made a part of this article as if fully set forth herein.