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Enterprise zone commission townhall meeting march2012
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Enterprise zone commission townhall meeting march2012

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Presentation made at Downtown Revitalization, Inc.s “Tools for Residential and Neighborhood Revitalization” - AUgust 2012 …

Presentation made at Downtown Revitalization, Inc.s “Tools for Residential and Neighborhood Revitalization” - AUgust 2012
http://www.downtownrevitalizationinc.com

Published in News & Politics
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  • 1. Enterprise Zone CommissionPerformance based… Results driven To revitalize once vital, vibrant neighborhoods that are now considered distressed communities as designated by the Governor.
  • 2. Expanded Zones
  • 3. Tax Credits 1. A credit of 25% of expenditures for rehabilitation or new construction. 2. Tax Rate reduction to 3% for gross receipts. 3. Property Tax Credit equal to the increase in property taxes assessed due to rehabilitation.
  • 4. Programs by Strategic Plan 1. Community Aesthetics – Scrape, Paint &Rejuvenate 2. Public Safety & Crime Prevention – Board-up & Youth to work programs 3. Entrepreneurship – Community Gardens 4. Infrastructure , Housing & Neighborhood Development - Estate Planning Conference, Historic walk & Save a building programs. 5. Business Development – tax credits & Beneficiary Care Program 6. Plan Implementation – Frederiksted, Christiansted & Savanne town plans
  • 5. Other Benefit Programs • EZ Plan Program offers benefits for the rehabilitation of buildings within the Enterprise Zone that will house within them businesses as specified in the town plan as adopted by the EZC. • Commercial Zone program offers tax credits for the rehabilitation of existing buildings within the Commercial Zone.