This chapter shall be known as "Local Law, No. 1 of the Year 2000, entitled
ECIDA Exceptions to the Code of the Town of Newstead."
The purpose of this provision is allow for the temporary subdivision
of parcels for the purpose of allowing the Erie County Industrial Development
Agency (ECIDA) to provide tax abatements and/or to facilitate financing of
buildings. The provision will allow a tax parcel to be divided temporarily
into two tax parcels to facilitate ECIDA ownership and/or financing as long
as there remains common control over the original parcel and the new parcel,
and the Town will look to the combined parcels to determine if they meet Code
provisions and in the issuance of permits. The parcel will show up as an exception
on the Town's records with a notation that this parcel is separated for financing
purposes and cannot be sold separately from the parcel off of which it was
split.