This article is enacted pursuant to the authority conferred
by New York State Real Property Tax Law Section 485-n and shall be
called the Village of Lima Real Property Tax Exemptions for Improvements
to Commercial or Residential Real Property Law.
It has been determined by the Village of Lima Board of Trustees
that it is in the best interest of the public health, safety and welfare
to encourage the investment in improvements in commercial or residential
real properties. It will serve the public interest to allow for certain
qualified real property tax exemptions in order to encourage investment
in such improvements.
As used in this article, the following terms shall have the
meanings indicated:
APPLICANT
Any person obligated to pay real property taxes on real property
for which an exemption from taxes under this section is sought.
BENEFIT AREA
The area within the Village of Lima, to which an exemption
applies pursuant to this article.
COMMERCIAL CONSTRUCTION WORK
The modernization, rehabilitation, expansion or other improvement
of commercial use property or the portion of mixed-use property to
be used for commercial purposes.
COMMERCIAL PURPOSE OR USE
The buying, selling or otherwise providing of goods or services,
including hotel services, or other lawful business or commercial activities
permitted upon mixed-use property.
COMMERCIAL USE PROPERTY
Real property on which will exist, after completion of commercial
construction work, a building used for commercial purposes or use.
MIXED-USE PROPERTY
Real property on which will exist, after completion of residential
construction work or a combination of residential construction work
and commercial construction work, a building or structure used for
both residential and commercial purposes.
RESIDENTIAL CONSTRUCTION WORK
The creation, modernization, rehabilitation, expansion or
other improvement of dwelling units, other than dwelling units in
a hotel, in the portion of mixed-use property to be used for residential
purposes.
There is hereby established the Commercial/Mixed Use Incentive
Board ("CMUIB") which shall be constituted and have the duties as
hereinafter provided.
A. The CMUIB shall consist of three members appointed by the Village
of Lima Board of Trustees for the terms as set by the Village of Lima
Board of Trustees. Said members may be chosen from any Village Board
members.
B. The CMUIB shall present a plan to the Village of Lima Board of Trustees
concerning the various types of commercial and/or mixed-use properties
which may be granted an exemption pursuant to this article. Said plan
shall:
(1) Identify designated benefit areas;
(2) Consider the planning objectives of the Village of Lima;
(3) Determine the necessity of the exemption for the attraction of commercial
and mixed use development as identified by the Village of Lima;
(4) Determine the economic benefit of providing exemptions to commercial
and mixed-use properties to the benefit area.
In instances where the Village of Lima has previously designated
a business district encompassing a defined area which was subject
to public input and was approved by and received funding for economic
development purposes from a state agency, the Village of Lima may
utilize the defined boundaries of such previously defined area, or
a combination of such boundaries with properties subject to review
by the commercial/mixed-use incentive board to determine the benefit
area.
This article shall be effective immediately upon filing thereof
with the Secretary of State.