[Ord. No. 403 §§1 — 4, 5-17-2007]
A.
Qualified applicants shall include those companies which operate in Missouri under the designated classifications of the North American Classification System (NAICS) as on file in the City offices in Exhibit A and will be eligible for Enhanced Enterprise Zone incentives provided they are located or expanding within the zone and make improvements to their property in accordance with Chapter 135, RSMo., as amended.
B.
Qualified applicants shall be granted a minimum of fifty percent (50%) for ten (10) years, or the potential of up to one hundred percent (100%) abatement of property taxes for up to twenty-five (25) years or the life of the Enhanced Enterprise Zone for improvements made to real property, as pertains to a qualified applicant.
C.
The Enhanced Enterprise Zone Commission is authorized to grant the level of the abatement based on criteria established by the Commission for up to twenty-five (25) years on improvements to real property made by eligible businesses, or the life of the Enhanced Enterprise Zone. Job creation, wages and special circumstances will be considered in this regard.
D.
The City of Cole Camp supports and endorses a Benton Enhanced Enterprise Zone as outlined in the map on file in the City offices.