[Ord. No. 07-31, 7-10-2007; Ord. No. 08-07, 5-13-2008; Ord. No. 10-31, 10-26-2010]
There is hereby established the "Celebrate Virginia South/Central Park Tourism Zone," consisting of all the area bounded on the south by U.S. Route 3, the west by the corporate limits of the City, the east by I-95 and the north by the Rappahannock River, except those parcels zoned Residential lying west of Carl D. Silver Parkway and north of River Road, and except for the area designated as the "Kalahari Resort Tourism Zone." The purpose of this zone is to provide economic incentives and regulatory flexibility for eligible business entities which will attract visitors from the Fredericksburg region and beyond, make a substantial investment, and create new jobs. This area will draw visitors from within and beyond the Fredericksburg region. The goal of the Celebrate Virginia South/Central Park Tourism Zone is to create a distinct retail shopping, entertainment, or recreational experience, with opportunities unlike those available at other interstate exits or shopping centers in the region.
[Ord. No. 07-31, 7-10-2007]
A. 
Economic incentives and regulatory flexibility may be made available to any new, expanded, or existing business which seeks to attract customers from the Fredericksburg region and beyond. The business must commit to a performance agreement based upon investment, jobs, sales revenues, or other significant criteria. The business must make an investment of at least $500,000 within the Celebrate Virginia South Tourism Zone, or create and sustain at least 25 full time jobs in order to be eligible for economic incentives or regulatory flexibility.
B. 
Economic incentives may be provided for up to 10 years, through the performance agreement. In the case of multi-year incentives, the business shall establish its qualification for the incentives on an annual basis.
[Ord. No. 07-31, 7-10-2007]
The City Manager is authorized to administer the Celebrate Virginia South Tourism Zone, through the Director of Economic Development and Tourism. The Director of Economic Development and Tourism shall develop criteria and guidelines for the level of investment required for any particular range of tax incentive or regulatory flexibility. The City Manager is authorized to negotiate performance agreements with potential new or expanded businesses. The City Council shall have final approval authority for performance agreements.