[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.