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AD VALOREM TAX EXEMPTION FOR HISTORIC PROPERTY - 416 NE 7th STREET (B)
ORDINANCE NO. 0-04-03
An ordinance of the City of Gainesville, Florida, finding that property at 416 N.E. 7th Street, Gainesville, Florida, qualifies for an ad valorem tax exemption for historic properties; granting an exemption from ad valorem tax on certain improvements beginning January 1, 2004, and continuing for 10 years; authorizing the Mayor and Clerk of the Commission to sign the Historic Preservation Property Tax Exemption Covenant between the applicant and the City; providing a severability clause; providing a repealing clause; and providing an immediate effective date.
recommendation
The City Commission adopt the proposed ordinance.
explanation
At the direction of the City Manager, the City Attorney has drafted an ordinance exempting certain historic property from ad valorem taxation for certain improvements as approved by the Historic Preservation Board.
This ordinance requires two public hearings. Should the Commission adopt the ordinance on first reading; the second and final reading will be held on Monday, December 8, 2003.