Sec. 74-151. - Application procedure for stabilization.

(a)

The application procedure shall proceed as follows:

(1)

An applicant shall apply to the city's tax assessor's department for a tax stabilization agreement under this article prior to obtaining a building permit. The application shall be on a form prescribed by the city's tax assessor's department and shall include:

a.

The program of building, alterations and/or improvements to be made;

b.

A certification from the applicant that the project meets the eligibility requirements set forth in section 74-149(a)(2) herein.

c.

A non-refundable filing fee of $3,500.00 which shall be used by the tax assessor to retain a peer review to validate whether the development project meets the investment costs set forth in this article to qualify for eligibility.

(b)

Upon receipt of an application, the tax assessor's department shall forward the application to the city planning department for review. Within 20 days of the filing of the application with the tax assessors department, the planning department shall determine whether the development project meets the minimum requirements set forth in section 74-149 herein.

(c)

Within 30 days of the filing of the application for a tax stabilization agreement with the tax assessor's department, the tax assessor's department shall either deem the application complete or provide a written response to the applicant detailing any deficiencies in the application.

(d)

Once the application is deemed complete, the tax assessor's department shall prepare a tax stabilization agreement with the applicant pursuant to and upon the terms set forth in this article. A fully executed tax stabilization agreement with the city is required for a development project to receive the tax stabilization provisions provided for under this article.

(e)

The tax assessor's department, together with the planning department, shall develop standardized forms and additional procedures consistent with this article, as they deem necessary and proper to effectuate the terms and provisions of this article.

(f)

Nothing shall prohibit an applicant having submitted an application deemed incomplete or ineligible from subsequently re-applying for a tax stabilization agreement under this article.

(Ord. No. O-16-13, § 1, 6-8-16)