Presentation made at Downtown Revitalization, Inc.s “Tools for Residential and Neighborhood Revitalization” - AUgust 2012
http://www.downtownrevitalizationinc.com
Enterprise zone commission townhall meeting march2012
1. Enterprise Zone Commission
Performance based… Results driven
To revitalize once
vital, vibrant
neighborhoods that
are now considered
distressed
communities as
designated by the
Governor.
3. Tax Credits
1. A credit of 25% of
expenditures for
rehabilitation or new
construction.
2. Tax Rate reduction to 3%
for gross receipts.
3. Property Tax Credit equal
to the increase in
property taxes assessed
due to rehabilitation.
4. Programs by Strategic Plan
1. Community Aesthetics –
Scrape, Paint &Rejuvenate
2. Public Safety & Crime Prevention –
Board-up & Youth to work
programs
3. Entrepreneurship – Community
Gardens
4. Infrastructure , Housing &
Neighborhood Development -
Estate Planning
Conference, Historic walk & Save a
building programs.
5. Business Development – tax
credits & Beneficiary Care Program
6. Plan Implementation –
Frederiksted, Christiansted &
Savanne town plans
5. Other Benefit Programs
• EZ Plan Program offers
benefits for the
rehabilitation of buildings
within the Enterprise Zone
that will house within them
businesses as specified in the
town plan as adopted by the
EZC.
• Commercial Zone program
offers tax credits for the
rehabilitation of existing
buildings within the
Commercial Zone.