Town of Yorktown, NY
Westchester County
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Table of Contents
Table of Contents
[Adopted 4-5-2016 by L.L. No. 8-2016]
The colloquial name of this article, which is the establishment of the Industrial and Commercial Incentive Board pursuant to New York State Real Property Tax Law § 485-b, shall be "Industrial and Commercial Incentive Board."
This article is enacted for the purpose of establishing an advisory board entitled the "Industrial and Commercial Incentive Board" pursuant to New York State Real Property Tax Law § 485-b, Subdivision 9. The Town Board has determined that the Industrial and Commercial Incentive Board should be established and directed to present to the Town Board a plan identifying the types of businesses that should be offered limited business exemption tax credits and geographical areas in the Town where the limited business exemption tax credits and geographical areas in the Town where the limited business incentive should be offered. The Industrial and Commercial Incentive Board shall consider the planning objectives of the Town and the areas thereof within which exemptions pursuant to Real Property Tax Law § 485-b, Subdivision 9, shall be offered, the necessity of the exemption to the attraction and retention of businesses, the creation and retention of permanent private sector jobs, the need to allow the exemption to provide employment opportunities and broaden the tax base and other factors which the Industrial and Commercial Incentive Board deems relevant.
The Town Board hereby establishes an Industrial and Commercial Incentive Board. The Industrial and Commercial Incentive Board shall be composed of five members. The Town Board shall designate the chairperson of the Industrial and Commercial Incentive Board by resolution. In the absence of the chairperson, the Town Board may designate by resolution a member of the Industrial and Commercial Incentive Board to sit as the acting chairperson. The chairperson of the Industrial and Commercial Incentive Board shall establish such administrative policies and procedures as are necessary to effectuate the purpose of Real Property Tax Law § 485-b, Subdivisions 9, 10 and 12.
The terms of the members of the Industrial and Commercial Incentive Board shall be for five years and shall commence on the date of the appointment by the Town Board. If a vacancy shall occur otherwise than an expiration of a term, the Town Board shall appoint a new member for the unexpired term.
The Industrial and Commercial Incentive Board shall have all the powers and duties set forth in Real Property Tax Law § 485-b, Subdivisions 9, 10 and 12, and such other actions deemed desirable to improve the economic climate within the Town or other factors as the Town Board may direct.
The Industrial and Commercial Incentive Board shall present the Town Board with a draft plan containing the information required by Real Property Tax Law § 485-b, Subdivision 9, including, but not limited to, recommendations as to the types of business that should be offered the limited business investment tax credit and recommendations as to the geographic area within the Town where the limited business investment tax credit should be offered. Such Draft Plan shall be presented within 60 days of the first meeting of the Industrial and Commercial Incentive Board.
After consultation with the Town Board regarding the draft plan, the Industrial and Commercial Incentive Board shall make any revisions it deems appropriate to the draft plan before presenting the Town Board with a final plan complying with the provisions of Real Property Tax Law § 485-b, Subdivision 9, and this article. Such final plan shall be presented within 30 days of the completion of the consultation with the Town Board.
Upon receipt of the final plan, the Town Board may, but shall not be required to, implement the recommendations contained in the final plan identifying the types of businesses that should be offered the limited business investment tax credit and the geographic areas within the Town where the business investment tax credit should be offered.
The final plan shall be subject to periodic review as determined by the Town Board. Within 60 days of a request of the Town Board, the Industrial and Commercial Incentive Board shall present the Town Board with a draft amended plan complying with the provisions of Real Property Tax Law § 485-b, Subdivision 9, and this article. Such final amended plan shall be presented within 30 days of the completion of the consultation with the Town Board.