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DCA outlines enterprise zones as a local tool for revitalization
Summary
DCA described enterprise zones as a local ordinance-driven tool that can offer property tax exemptions or fee abatements to encourage reinvestment; the department serves as a repository for ordinances but does not administer enterprise zones.
Haywood briefly explained enterprise zones as a locally adopted tool cities and counties can use to encourage redevelopment. He said enterprise zones can provide local ad valorem property tax exemptions, abatements of local occupational and inspection fees, and allow modification of local development regulations by ordinance.
Haywood emphasized that enterprise zones are created and administered at the local level and that the statute requires communities to submit adopted ordinances to DCA so the department can serve as the repository of those actions. He said a jurisdiction must meet at least three of five statutory criteria (pervasive poverty, unemployment significantly above the state average, general distress, underdevelopment, and general blight) to be eligible.
