[Adopted 1-13-1997 by L.L. No. 1-1997 (Ch.
125 of the 1987 Code)]
Local Law No. 1-1994 is rescinded and reenacted,
changed and amended as follows.
The Economic Development Zone, as heretofore
authorized by Local Law No. 1, 1987, exempting certain real property
from taxation and special ad valorem levies in parts of the First
Ward of the City of Lackawanna, shall expire, as such, on July 31,
2004. However, the particular exemptions granted thereunder may extend
beyond July 31, 2004, based on the effective date of the original
grant and its terms and conditions. The real property tax abatement
for improvements to property shall be for a ten-year period from the
date that the business is considered zone-certified by the State of
New York.
This article shall take effect immediately upon
its filing with the Secretary of State in accordance with the New
York State Municipal Home Rule Law.
