[Adopted 3-9-2015 by Ord. No. 701]
The following words and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates or requires a different meaning:
BOROUGH
The Borough of Sellersville, Bucks County, Pennsylvania.
COUNTY
The County of Bucks, Pennsylvania.
DESIGNATED AREA
All real property identified by the current tax parcel identification numbers listed on Exhibit A and located within the boundary set forth on Exhibit A.[1]
ELIGIBLE PROPERTY
Any industrial, commercial, or other business property located in the designated area.
IMPROVEMENT
Any repair, construction, or reconstruction, including alterations and additions, undertaken for the purpose of rehabilitating any industrial, commercial or other business property owned by any individual, association or corporation and located in the designated area. The term "improvement" does not include any ordinary upkeep or maintenance.
LOCAL TAXING AUTHORITIES
The Borough of Sellersville, the County of Bucks, and the Pennridge School District.
PERSON
Any individual, partnership, company, association, society, trust, corporation, municipality, municipal authority, or other group or entity.
SCHOOL DISTRICT
Pennridge School District, Bucks County, Pennsylvania.
[1]
Editor's Note: Exhibit A, Sellersville Business Campus LERTA District, is on file at Borough Hall.
A. 
There is hereby exempted from all real estate property taxes that portion of additional assessment attributable to the actual costs of new construction or improvements to any eligible property for which proper application has been made in accordance with this article.
B. 
The exemption authorized by this article shall be in accordance with the provisions and limitations set forth in this article and LERTA.
C. 
The schedule of real property taxes to be exempted shall be in accordance with the following percentage of the assessed valuation of new construction or improvements to any eligible property:
Tax Year(s) Following Completion of Construction
Exemption Portion of Assessed Valuation
1
100%
2
100%
3
100%
4
100%
5
100%
D. 
A tax exemption granted under this article shall become effective for a five-year period from the date of issuance of a certificate of occupancy for any new construction or improvements.
E. 
A tax exemption granted under this article shall not terminate upon the sale or exchange of any eligible property.
F. 
Any person who is an owner of eligible property and who desires tax exemption pursuant to this article shall apply in writing for such exemption on a form to be provided by the Borough. The completed application must be received by the Borough at the same time such person applies for a building permit for any new construction or improvements.
G. 
The application for tax exemption shall require the applicant to supply the following information:
(1) 
The name of the owner or owners of the eligible property.
(2) 
The location of the eligible property, including the tax parcel identification number assigned to such property for real property tax purposes.
(3) 
The type of new construction or improvements to be made on the eligible property.
(4) 
The nature of the improvements to be made on the eligible property.
(5) 
The date on which construction is scheduled to commence.
(6) 
The cost or estimated cost of the new construction or improvements.
(7) 
Such additional information as the Borough may reasonably require.
H. 
The Borough Manager shall forward a copy of such completed application to the county and school district within 30 days of filing with the Borough.
I. 
The cost of new construction or improvements to be exempted and the schedule of taxes exempted at the time of an initial request for tax exemption made in accordance with the provisions of this article shall be applicable to that exemption request, and any subsequent amendment to this article, if any, shall not apply to applications filed with the Borough prior to any such amendment.
A. 
This article shall expire on the 10th anniversary of its enactment unless extended by an ordinance duly adopted by the Borough. Any property tax exemptions granted under the provisions of this article shall be permitted to continue according to the exemption schedule even if this article expires or is repealed.
[Amended 8-10-2020 by Ord. No. 733]
B. 
Notwithstanding § 143-56A above, this article is contingent upon all local taxing authorities with mutual jurisdiction over the designated area passing and maintaining a substantially similar ordinance or resolution providing for similar tax exemptions for all eligible properties. In the event such ordinance or resolution is not in place and effective on or before the date when the first application for tax exemption under this article is filed with the Borough, this article shall be considered null and void and of no force or effect.
In the event any provision, section, sentence, clause or part of this article shall be held to be invalid, such invalidity shall not affect or impair any remaining provision, section, sentence, clause or part of the Ordinance, it being the intent of the Borough that such remainder shall be and shall remain in full force and effect.