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County commissioners approve targeted property tax incentive policy; EDC staff to draft ordinance
Summary
Commission staff told the Economic Development Commission that County Commissioners approved a targeted-industry property tax incentive policy; staff will prepare an implementing ordinance and distribute details to the commission.
At the Nov. 16 meeting the commission received an announcement from staff that the County Commissioners approved targeted industry categories and an associated property tax incentive policy. Staff said they will return to the commission with an ordinance to implement the policy.
During the meeting a staff member summarized the general structure discussed with commissioners: "If you're creating up to 10 jobs, you're gonna get a property tax credit for for 5 years. If you're creating 16 to 24 to 5 jobs, you're gonna get a credit for 8 years," the transcript records; staff said the County Commissioners "approved the policy and the criteria." The numeric phrasing in the transcript is garbled and staff committed to providing the commission with the ordinance and exact terms.
Commissioners requested a copy of the criteria and staff said they would circulate the details to the commission. No formal ordinance or vote on the ordinance occurred at the Nov. 16 commission meeting; the announcement recorded was informational about the County Commissioners' prior action.
Next steps: staff will circulate the approved criteria and return with a draft ordinance to put the incentive into effect.
