Atlantic City Council approves Tax Rebate for Steel Erectors
November 21st, 2012 by Ric Hanson
The Atlantic City Council, Tuesday, held public hearings on an Amendment to the North Urban Renewal Plan, and a Development Agreement that includes Tax Rebates. Both matters pertained to United Steel Erectors (USE). Following the hearings, the Council passed a Resolution which approved the expenditure as an Urban Renewal Project, and authorized payment, with the stipulation it be included in the December 1st, 2012 certification to the County.
City Administrator Doug Harris explained a new State Tax Increment Financing law went into effect in July 1st, 2012. The new TIF law has several new requirements that have affected the agreement with USE, that the council had hoped to approve last June, and, last minute changes were necessary to eliminate any conditions related to job creation. Those elements caused an adoption of a TIF agreement to be postponed until Tuesday night’s meeting.
The Council then voted to approve a Resolution for the Development Agreement with United Steel Erectors, along with Tax Rebate payments between the City and the USE. Harris said the agreement calls for a 45-percent tax rebate for five-years, not to exceed $35,000.
The Council also approved the Final Plat for the Namanny Commercial Development project on the City’s west side. The nearly eight-acre parcel zoned Light Industrial, will be divided into four lots, two of which will be used for commercial buildings along Highway 6.
And, Mayor Dave Jones reminded residents of the City about their responsibilities when the snow falls. He said keep your shovel handy and get ready to shovel your sidewalks, to keep them clear and safe.Keeping sidewalks cleared of snow is required under the City’s Code of Ordinances.