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Council redesignates Oak Ridge–Westfir enterprise zone, adds school district reference
Summary
Council adopted Resolution 581 to redesignate the Oak Ridge–Westfir Enterprise Zone before its expiration, noting inclusion of the Green Atlas School District and a 15% school support fee for certain deferred-tax benefits.
The council approved Resolution 581 to redesignate the Oak Ridge–Westfir Enterprise Zone so the community remains eligible for enterprise-zone tax-deferral incentives. Nicole explained the redesignation uses the existing map, that the principal substantive change was the inclusion of the Green Atlas School District, and that eligible businesses must add at least one job or increase employment by 10% within the exemption period.
"The only real change is... the Green Atlas School District," Nicole said, and the council discussed the IGA terms including a 15% school-support fee collected by businesses after five or more years of deferred taxes. Speaker 4 moved to adopt the resolution, and on roll call the motion carried. Council and staff noted the IGA contains termination provisions allowing parties to withdraw with 30 days' notice; councilors also clarified the enterprise-zone boundary can be reviewed and adjusted in the future.
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