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provisions of subsection (c) below, may be considered for a Base Phase-In Credit <br />Of f ve (~) years. <br />(b) No Bonus Phase-In Credits. No additional phase-in credits will be allowed for <br />single-family residential construction. <br />(c} Residentially distressed area designation. The grant of a residentially distressed <br />area designation is subject to the following conditions: <br />(1) The deduction will not be allowed unless the dwelling is constructed to <br />meet the local code standards for habitability. <br />(2} If a designation application is filed, the Council may require that the <br />construction be completed within a reasonable period. <br />Sec 2-$1 Real Property Tax Phase-In -Bonus Criteria- Years 1 through 3 -FOR <br />IIVVESTMI±JNT/CONSTRiJCTION/LOCATION <br />In addition to the base tax phase-in earned as a result of achieving their Primary Project <br />impacts, businesses may earn additional real property tax phase-izx credits for each of years one <br />{1}through three (3} by meeting any of the following criteria during the construction phase of the <br />project. <br />(a) Local Contractor Usage <br />Additional phase-in credits maybe earned if the project utilizes local contractors. <br />(1) Local Contractor engagement measure <br />Determined by calculating the percentage of project construction labor <br />dollars for real property improvements expended within the facility <br />footprint via local contractors. <br />(2} Target Criteria <br />The local contractor utilization within the facility footprint <br />(i) Equals or exceeds 80%. 2 years <br />(ii) Equals 100%. 3 years <br />(b) Constre~ctian Wages <br />Additional phase-in credits may be earned if the project meets or exceeds Phase-In <br />Prevailing Wage Standards. <br />12 <br />