(a) 
The owner of a commercial building in the approximate 38-block area officially designated as the Main Street Target Area may apply for a tax freeze on city property taxes for both the land and the structure on the building site 12 months prior to or during the duration of the Main Street project; provided, however, that the city council may extend the time for making such applications any additional time if such an extension is deemed to be in the public interest.
(b) 
Both the land and the structure will have an annual assessed value equal to the assessed value of the tax year immediately before the restoration was completed, for five years following the completion of the restoration. The tax freeze will begin the first day of the first tax year after the Main Street manager has verified that the restoration is substantially complete.
(c) 
For the purpose of this division, the term “restoration” means work performed in accordance with the applicable building codes and regulations of the city.
(1988 Code, ch. 1, sec. 18.01; Ordinance 1990-05, sec. 1(a), adopted 2/27/90; 2010 Code, sec. 40-70)
(a) 
To be eligible for a city property tax freeze, the property must be located within the official Main Street Target Area and must be designated an historic landmark. To be so designated the property must meet all of the following conditions:
(1) 
The building must be at least 30 years old;
(2) 
The property must generally meet the criteria established by the Main Street director and Main Street tax freeze committee of the Main Street project. Such committee consists of five members from the Main Street project board and shall function in an advisory capacity giving advice to the Main Street manager. A quorum of such committee shall be necessary to make recommendations to the Main Street manager, who will then make recommendations to the city council.
(b) 
At the time of application for the tax freeze, the exterior and the interior of the historic landmark must be in need of restoration that exceeds five percent of the assessed value of the structure, but is not less than $5,000.00, whichever is the greater amount, the year the restoration begins.
(1988 Code, ch. 1, sec. 18.02; Ordinance 1990-05, sec. 1(b), (c), adopted 2/27/90; 2010 Code, sec. 40-71)
An application for a tax freeze must be filed with the Main Street project manager. Each application must be signed and sworn to by the owner of the property and must include the following information:
(1) 
The legal description of the property;
(2) 
The detailed plans and documents relating to the proposed work showing how the exterior of the structure is to be restored in accordance with the applicable city building codes;
(3) 
A statement and documentation of the costs for the repair and restoration of the exterior and interior of the historic landmark to show that the costs exceed the greater of five percent of the assessed value of the structure or $5,000.00;
(4) 
The projection of the construction time and completion (completed) date of the restoration;
(5) 
The proposed use of the property;
(6) 
Any other information which is necessary to the city in determining eligibility.
(1988 Code, ch. 1, sec. 18.03; Ordinance 1990-05, sec. 1(d), adopted 2/27/90; 2010 Code, sec. 40-72)
The owner of the structure shall comply with the standards for eligibility set forth herein in order to have the proposed alterations to the exterior and/or interior of the structure approved and to obtain a certificate of eligibility indicating that the structure is eligible for the tax freeze. The Main Street manager shall, with the advice of the Main Street tax freeze committee and the city council, make such determination and issue such certificate of eligibility.
(1988 Code, ch. 1, sec. 18.04; Ordinance 1990-05, sec. 1(e), adopted 2/27/90; 2010 Code, sec. 40-73)
(a) 
Upon completion of the restoration of the structure in accordance with the certificate of eligibility issued by the Main Street manager, the owner shall submit to the manager a sworn statement certifying that the restoration is being completed. The Main Street manager and Main Street tax freeze committee shall then review the sworn statement of the owner, the structure shall be inspected by them to determine whether the restoration is substantially complete, and if approved by the city council, shall issue the owner a certificate of qualification for a tax freeze.
(b) 
If a certificate of qualification is approved, the Main Street manager shall send written notice to the county appraisal district which shall appraise the property in accordance with the applicable section of V.T.C.A., Tax Code, in particular V.T.C.A., Tax Code section 11.24. The manager shall send a copy of the certificate of qualification to the tax assessor.
(1988 Code, ch. 1, sec. 18.05; Ordinance 1990-05, sec. 1(f), adopted 2/27/90; 2010 Code, sec. 40-74)
(a) 
Reappraisal.
If the Main Street manager has reason to believe that an historic landmark has been totally or partially destroyed or altered by the willful act or negligence of the owner or his representative in violation of the preservation criteria contained in the ordinance designating the historic landmark, he shall notify the city manager, who shall then inspect the situation and, if he sees necessary, shall immediately cause the matter to be scheduled for the earliest possible consideration by the city council. If, after giving notice and hearing to the owner, the city council determines that the historic landmark has been totally or partially destroyed or altered by the willful act or negligence of the owner or his representative who are receiving the tax freeze, the city council shall request the county appraisal district to reappraise the building, and the owner shall begin to pay to the city his reappraised value taxes.
(b) 
Demolition or restoration.
Where an historic landmark is totally or partially destroyed or altered other than by the willful act or negligence of the owner or his or representative, the owner shall, within 30 days, request a demolition permit when restoration is not feasible, or request a building permit to reconstruct the historic landmark in accordance with the preservation criteria. The determination as to whether restoration is feasible shall be made by the city council, upon the advice of the Main Street manager, the Main Street tax freeze committee, and the city manager as part of the certificate of qualification review procedure required to be followed in obtaining a building permit.
(1988 Code, ch. 1, sec. 18.06; Ordinance 1990-05, sec. 1(g), adopted 2/27/90; 2010 Code, sec. 40-75)
Notwithstanding the provisions contained in this division, if an application for an historic landmark freeze is filed within 90 days of the passage of the ordinance from which this division is derived, restoration of the historic landmark conducted during the calendar year 1989 may be counted in determining whether the costs of the historic landmark restoration exceed five percent of the assessed value as determined on January 1, 1989.
(1988 Code, ch. 1, sec. 18.07; Ordinance 1990-05, sec. 2, adopted 2/27/90; 2010 Code, sec. 40-76)