Source: https://ecode360.com/30419868
Timestamp: 2018-06-25 02:07:49
Document Index: 202447223

Matched Legal Cases: ['§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 130', '§ 59', '§ 58', '§ 130', '§ 130']

Page County, VA Page County Enterprise Zone
§ 130-1 Statement of purpose.
§ 130-2 Boundaries.
§ 130-4 Qualification for state incentives.
§ 130-5 Qualification for local incentives.
§ 130-6 Incentives capped.
§ 130-7 Application required.
§ 130-8 Enterprise Zone Administrator.
Chapter 130: Page County Enterprise Zone
[HISTORY: Adopted by the Board of Supervisors of the County of Page 5-19-2015. Amendments noted where applicable.]
Technology Zone — See Ch. 107.
Chapter 130 : Page County Enterprise Zone
The Virginia Enterprise Zone Act, § 59.1-538 et seq. of the Code of Virginia, as amended, authorizes the establishment of an Enterprise Zone. It is the purpose of the Enterprise Zone Act, and of this chapter, to stimulate business and industrial growth within the area so designated as the Page County Enterprise Zone by means of state income tax credits, state sales tax exemptions, and local incentives as set forth herein.
The boundaries of the Page County Enterprise Zone are established on the map entitled, "Page County Enterprise Zone," as modified from time to time, on file in the Page County Office of Economic Development and Tourism, located at 103 South Court Street, Luray, Virginia. Initially, specific areas were established as an enterprise zone on January 1, 2015, by the Governor of the Commonwealth of Virginia for a period of 10 years in accordance with the Virginia Enterprise Zone Act.
Any corporation, partnership, electing small business corporation, limited liability company or sole proprietorship authorized to do business in this Commonwealth of Virginia and the County of Page, Virginia. However, a business firm does not include organizations which are exempt from state income tax on all income except unrelated business taxable income as defined in the Federal Internal Revenue Code, Section 512; nor does it include homeowners' associations as defined in Federal Internal Revenue Code, Section 528.
Thirty-five hours per week of an hourly wage (or the salaried equivalent). A single equivalent job may be represented by one employed individual, or by multiple employed individuals whose aggregate hours of employment (or salaried equivalent) equal 35 hours per week.
Any business operating or located within the enterprise zone on January 1, 2015, within Page County, prior to its location within the enterprise zone. A business which retains the same ownership and which was operating or located within the enterprise zone on January 1, 2015, or within the County prior to location with the enterprise zone shall not be defined as a new business, even if the name or entity (corporate or otherwise) has changed.
A business operating within the enterprise zone after January 1, 2015, having had no prior business location within Page County.
State incentives are available to eligible businesses and zone investors who create jobs and invest in real property within the boundaries of the Page County Enterprise Zone. Eligibility for state incentives, and the application process for obtaining incentives, shall be coordinated between Virginia Department of Housing and Community Development and Page County's Office of Economic Development and Tourism. These incentives are as follows:
Real Property Investment Grant (RPIG) is based on qualified investments made to commercial, industrial, and mixed-use buildings for facilities located within the boundaries of an enterprise zone. To be eligible for the RPIG, an individual or entity must invest at least $100,000 for rehabilitation or expansion projects and at least $500,000 for new construction projects.
Capital investment grant (CIG). The CIG is a grant equal to 75% of the taxes paid on net new taxable in machinery and tools, business personal property, and/or real estate, as measured by the increase in assessment. The CIG will be delivered as a grant made to the recipient after taxes have been paid to the County after all eligibility requirements have been met by the recipient. The CIG will be paid semiannually, after all taxes due have been paid by the recipient, for a period of five years. Additional qualification requirements:
Location in County Enterprise Zone;
Or a net new taxable investment in business real estate of at least $150,000, to be maintained throughout the grant period, to be obtained within 24 months of entering into the grant performance agreement;
Payment of all taxes and fees due to the County in a timely manner during the grant period;
Entrance into a grant performance agreement with the Page County Economic Development Authority; and
Business/professional/occupational license (BPOL), local sales tax, meals and/or lodging tax refund (BSMLR). The refund is a grant equal to a percentage of new business license fees, local option sales tax, meals and/or lodging taxes paid by the qualifying company/business determined by the following schedule: Year 1 - 80% refund; Year 2 - 60% refund; Year 3 - 40% refund; and Years 4 and 5 - 20% refund. The BSMLR will be paid semiannually for a period of five years after all taxes have been paid by the recipient and amount(s) paid determined by the Commission of Revenue. A business may qualify for and receive the BSMLR for one grant period only during the life of the Enterprise Zone. Additional qualification requirements:
Creation of at least five full-time jobs (or full-time equivalent) or ten-percent expansion of current number of jobs, whichever is greater to be maintained throughout grant period;
Business Development Loan Program (BDLP). The BDLP provides loans up to a maximum of $50,000 to be utilized by new or existing businesses located in the County Enterprise Zone. The BDLP is funded and administered by Page County Economic Development Authority (EDA), and all inquiries and applications must be submitted to the EDA for review and approval. Additional qualification requirements:
Creation of at least one full-time, or full-time equivalent job;
Payment of all taxes and fees due to the County must be paid in a timely manner during the loan period; and
Commercial rehabilitation real estate tax exemption (CRRETE). The CRRETE exempts qualifying real estate assessments (QREA) from increases in taxation by the County for a period of between five to 15 years. A QREA provides for tax rebates based upon the difference between pre- and post-improvement tax assessments. Once improvements are realized, qualifying properties are eligible for semiannual County real estate tax rebates for the increased assessment amount only. Applicants may receive said rebates after all real taxes are paid to the County. Additional qualification requirements:
The qualifying property must be in the County Enterprise Zone;
The property must be in commercial, industrial, or mixed use with a minimum of 30% usable floor space devoted to commercial, office or industrial use;
Applicants must comply with all other terms and conditions of § 58.1-3221 of the Code of Virginia.
Refund of various development fees (RVDF). The RVDF refunds half of the building permit, site plan and/or zoning, rezoning zoning, variance, or special use permit fees paid to the County by a qualifying applicant. The fees are refunded upon the successful completion of the qualifying project. Fees related to emergency management services (EMS), stormwater management and/or utility facility/connections are not subject to the RVDF. Additional qualification requirements:
The qualifying project must be in the County Enterprise Zone.
Business visitation prioritization (BVP). The BVP is implemented by Page County's Economic Development Director, and may include other professional and resources in accordance to availability and appropriateness. The Economic Development Director will provide consultation services to qualifying business to assist in resolving issues related to conducting business. The degree and variety of services provided will be determined by the Economic Development Director, and allocated according to time and resources.
HUB Zone Assistance (HZA). HZA is provided by the Page County's Economic Development Director for businesses seeking HUB Zone certification, and to existing HUB Zone certified businesses located in the County.
Fast Track Development Program (FTDP). Through the FTDP, businesses applying for rezoning and/or special use permits may request joint hearings of the County's Planning Commission and Board of Supervisors as a means to expedite process. Additional qualification requirements:
The qualifying project must be in the County Enterprise Zone; and
The joint hearing request must be coordinated through Page County's Economic Development Director, and the administration of the participating government.
The combined amount of BSMLR, CIG (§ 130-5A) and the CRRETE (§ 130-5D) shall be capped at 75% of all recipient's taxes paid to the County, whichever is applicable.
Any business firm seeking to receive local enterprise zone incentives shall make application to the Page County's Economic Development Director, who acts as the enterprise zone administrator, on forms provided by the Page County Economic Development Authority. The Economic Development Director may require the business firm to provide documentation establishing that said business firm has met the requirements for the receipt of County Enterprise Zone incentives. Failure to provide requested documentation shall result in a denial of the business firm's application for local incentives. Upon approval of any business firm application for local enterprise zone incentives, the Economic Development Director shall submit a written report to the Economic Development Authority and the County Administrator listing the name and address of the qualifying business firm, and the local enterprise zone incentives for which it is qualified. The Economic Development Director may require the business firm to provide additional documentation from time to time to assure that said business firm retains the requisite qualifications for the receipt of local enterprise zone incentives. In the event that any business firm shall fail to maintain the requisite qualifications for the receipt of local enterprise zone incentives, the Economic Development Director shall inform the business firm in writing that it is no longer qualified for the receipt of local incentives, and shall send a copy of said notice to the Economic Development Authority and the County Administrator.
The Enterprise Zone Administrator shall be the Page County Administrator or his or her designee.