8.12.050 Deteriorated property – Specific criteria.
The Assembly may grant a partial or total exemption and/or deferral for deteriorated property only if there is a clear and convincing demonstration that such exemption and/or deferral will provide direct economic benefit to the Borough, and:
A. The exemption and/or deferral is necessary to:
1. The economic feasibility of completing improvements on the property; and
2. Promote or improve the economic development of the Borough;
B. The property is commercial property not used for residential purposes, or is multi-unit residential property with at least eight residential units;
C. The property:
1. Within the last five years, has been the subject of an order by a government agency requiring environmental remediation of the property or requiring the property to be vacated, condemned or demolished by reason of noncompliance with laws, ordinances, or regulations; or
a. Is located in a deteriorating or deteriorated area with boundaries that have been determined by the Assembly after a public hearing;
b. The exemption and/or deferral will provide measurable public benefits commensurate with the level of incentive granted;
D. The property owner is in compliance with all Alaskan municipal and state of Alaska tax obligations; and
E. The improvements planned for the property are compatible with land use and development plans of the Borough. (Ord. 2005-26 § 3, 2005. 2004 Code § 3.11.050.)