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All affected tax jurisdictions shall be notified by certified
mail of any proposed deviation of the Uniform Tax Exemption
Policy and the reasons for such deviation. Affected tax
jurisdictions shall have ten (10) calendar days to provide
written input regarding the proposed deviation prior to
final action by the Board.
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Decrease in Abatement: The Agency may at any time and
for any class of use determine that its uniform tax exemption
policy should be deviated from to provide for an increase
in the amount of payment in lieu of tax. These increases
would be remitted to affected taxing jurisdictions in
the same proportion as the real property tax levy.
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Right of Reimbursement: The Agency reserves the right
to use PILOT revenues to reimburse itself or any other
governmental Agency or political subdivision of all or
a portion of Agency and/or other public funds which were
invested in the construction of infrastructure which was
instrumental in the location decision of the company making
the PILOT payments. Such reimbursement shall not result
in a reduction of existing tax revenues generated prior
to Agency involvement.
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Hydroelectric Facilities: The Agency may consider extending
the abatement period from 10 to 15 years for hydroelectric
facilities if the project sponsor can demonstrate and
extension is critical to the economic viability of the
project.
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The Agency expects to adopt amendments to this Policy
Statement. Also, the IDA expects to provide flexibility
to the Program by allowing variances when and where the
IDA after due consideration deems a variance justified.
No amendment or variance will be adopted or allowed unless
and until a public hearing as been held, appropriate input
has been received from the taxing entities and the general
public, and the reasons for any such amendment or variance
are separately itemized and evaluated.
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Notwithstanding any of the foregoing provisions the Agency,
at its discretion, reserves the right to deviate from
its Economic Development Job Incentive Program Policy.
All applicants are cautioned not to make substantial commitments
or incur any costs unless and until the applicant is fully
aware of the consequences of any formal action prior to consultation
with representatives of the Agency.
