Chapter 75 FINANCE AND TAXATION.

75-61    TECHNOLOGY ZONE - ZONE BENEFITS

A. Permit Fee Grants.

The Economic Development Authority shall provide cash reimbursements for the following local permits and fees up to a maximum cumulative value of $500 for qualified Technology Zone businesses provided the business's application for reimbursement is filed with the Economic Development Authority within the first 12 months of operation within the Zone.

             Technology Zone Application fees. (EDA)

*Building, Plumbing, Electrical & Mechanical Permit Fees. (Warren County)

*Zoning Permit Fees. (Front Royal)

*Subdivision Application Fees. (Front Royal)

B. Business Professional and Occupational License Taxes.

Provided they continue to remain qualified, qualified businesses shall be entitled to a credit of business and occupational license fees for that portion of their business classified as a    "technology business" for a ten-year period while the business is located within a Front Royal Technology Zone as follows:    During the first five years following application approval, the business shall be entitled to a one hundred-percent credit of its business and occupational license fees.  During the sixth year, the business firms shall be entitled to an eighty-percent credit.  During the seventh year, the business firm shall be entitled to a sixty-percent credit.  During the eighth year, the business firm shall be entitled to a forty-percent credit.  During the ninth and tenth years, the business firm shall be entitled to a twenty-percent credit.

C. Cash Grants.

Qualified business may be eligible for annual cash grants to be determined on a case by case basis by the County of Warren and Town of Front Royal during the negotiation process based on job creation and investment.  A minimum of 10 full-time jobs paying at least 2.0 times the minimum wage, and 3 full-time jobs paying at least 2.0 times the minimum wage in the Downtown Front Royal Zone, and benefits as noted above and a minimum investment of $10,000 and $3,000 for Downtown Front Royal Zone businesses shall be required to be eligible for cash grants.

(Ord. No. 13-09 Amended 12-21-09-Effective Upon Passage)

D. All Town benefits are limited to that portion of the business enterprise created and maintained for and qualified under this Technology Zone program.