§ 209-42. Eligibility and amount of credit.

[Added 04/30/09 by Ord. No. 09-03]

A.  A property tax credit granted under this article may only be granted to a property that is principally used for business, commercial or industrial purposes.

B.  A property tax credit granted under this article may only be granted for taxes levied on real property within the County.

C.  A property tax credit may only be granted for improvements made to a property where the improvements meet the minimum LEED® Rating of Silver or the minimum Green Globes™ Rating of two Green Globes™ or a County recognized or adopted equivalent standard where improvements are certified after May 5, 2009.

D.  LEED® registration and certification through the United States Green Building Council, Green Globes™ certification through the Green Building Initiative, or certification under a County recognized equivalent program is required under this article for eligibility.

E.  Upon receipt of certification, the County shall make the final authorization that would make the project eligible for a tax credit.

F.  A 25% tax credit is available for a LEED® Silver or equivalent; a 50% tax credit is available for a LEED® Gold or equivalent, and a 75 % credit is available for a LEED® Platinum or equivalent for a period of 5 consecutive years.

G.  The tax credit shall be calculated and credited based on the improved portion only of the real property tax levied by the County annually that has earned the applicable rating standard or certification.