My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
01/23/17 City Council Agenda Packet (2)
COE
>
City of Eugene
>
Public Meetings
>
CMO
>
2017
>
01-23-2017
>
01/23/17 City Council Agenda Packet (2)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/23/2017 2:32:30 PM
Creation date
1/23/2017 2:32:03 PM
Metadata
Fields
Template:
City Council
City_Council_Document_Type
Agenda Packet
CMO_Meeting_Date
1/23/2017
CMO_Effective_Date
1/23/2107
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
154
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
!³³ ¢§¬¤³ ! <br />West Eugene Enterprise Zone Overview <br />Program Summary <br /> <br />Description: By offering a short-term tax exemption, the purpose of the enterprise zone program is to <br />encourage new business investment, job creation, higher incomes for local residents, and greater <br />diversity of economic activity. Enterprise zones induce eligible businesses of all sizes to make additional <br />investments that will improve employment opportunities and spur economic growth. Eligible business <br />that make authorized investments within an enterprise zone will be exempted for 3 to 5 years from local <br />assessment of property taxes on the value added to the business and property located within the <br />enterprise zone. Enterprise zone property is also exempt for up to two years while it is being <br />constructed or installed. <br />Business Firm Eligibility: Prior to commencing construction or installation of equipment or machinery, <br />an eligible business firm must submit an application to the zone sponsor who then determines eligibility <br />and authorizes the investment for purposes of the program. Eligible firms include manufacturers, <br />processors, shippers, and other operations that serve other organizations, as well as headquarters and <br />call centers. Otherwise, retail, construction, financial, and certain other activities are explicitly ineligible. <br />Qualified Property: Investments that result in a new building, modification or addition to a building, or <br />new machinery or equipment qualify for exemption. Land, previously used property, and minor <br />personal property items do not qualify. <br />Requirements: In exchange for the tax exemption and to continue to be eligible, authorized businesses <br />must meet the following requirements: <br />3-year enterprise zone exemption <br />Increase full-time, permanent employment of the firm inside the enterprise zone by <br />the greater of one new job or 10 percent (except for special case local sponsor <br />waivers); <br />No concurrent job losses more than 30 miles from the zone; <br />Maintain employment levels during exemption period; <br />Enter into first source hiring agreement with local job training providers; and <br />Satisfy local additional conditions. <br />4- or 5-year enterprise zone exemption <br />All requirements for 3-year exemption; <br />“Compensation” of new workers at 150% of county average wage; <br />Local approval by written agreement with the local zone sponsor; and <br />Additional requirements that the local zone sponsor may reasonably request. <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.