Sec. 16-66. - Extended stabilization.

In the event the expansion or renovation of any existing facility, construction of a new facility or leasehold improvements of an existing facility exceeds $5,000,000.00 in taxable value, as determined by the city assessor, the amount of the tax stabilization and the length of term of the stabilization may be extended to ten years determined by the city council, subject to the requirements set forth in section 16-67 of this article.

(Ch. 595, § I, 12-17-13)