[Adopted 4-3-1986 by L.L. No. 3-1986;
amended in its entirety 3-19-2015 by L.L. No. 3-2015]
Pursuant to the authority of Subdivision 7 of § 485-b
of the Real Property Tax Law, the partial exemption from taxation,
special ad valorem levies and service charges provided by § 485-b
is hereby increased to the maximum allowable by Subdivision 2 of § 485-b
of the Real Property Tax Law.
A.
Purpose. This section is enacted for the purpose of establishing
an Industrial and Commercial Incentive Board pursuant to 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 business that should be offered limited business exemption tax
credits and the geographic areas in the Town where the limited business
incentive should be offered.
B.
Creation. The Town Board hereby creates an Industrial and Commercial
Incentive Board. The Industrial and Commercial Incentive Board shall
be comprised of seven members. These members shall include the Chairperson
of the Planning Board, one member of the Town staff and five Town
residents selected by the Town Board.
C.
Term. Members of the Industrial and Commercial Incentive Board shall
serve at the pleasure of the Town Board. Members shall elect their
own Chairman and establish such administrative policies and procedures
as is necessary to effectuate the purpose of the Real Property Tax
Law § 485-b, Subdivisions 9, 10 and 12.
D.
Powers. The Industrial and Commercial Incentive Board shall have
all the powers and duties set forth in the Real Property Tax Law § 485-b,
Subdivisions 9, 10 and 12.
E.
Draft plan. 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(b), including,
without limitation, recommendations as to the types of business that
should be offered the limited business investment tax credit and recommendations
as to the geographic areas 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 Board meeting.
F.
Final plan. After consultation with the Town Board regarding the
draft plan, the Industrial and Commercial Incentive Board shall make
any revisions it deems appropriate to that plan before presenting
the Town Board with a final plan complying with the provisions of
Real Property Tax Law § 485-b, Subdivision 9(b), and this
article.
G.
Implementation. Upon receipt of the final plan, the Town Board may,
but shall not be required to, adopt a local law implementing the recommendations
contained in the final plan identifying the type of business that
should be offered the limited business investment tax credit and the
geographic areas within the Town where the limited business investment
tax credit should be offered.
H.
Amendments. The final plan shall be subject to periodic review as
determined by the Town Board. Upon specific 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(b), and this article.
