Common use of ICM Area Project Terms and Conditions Clause in Contracts

ICM Area Project Terms and Conditions. DeKalb County Enterprise Zone property tax abatement shall be available for companies meeting the following criteria in the ICM Area and according to the following terms and conditions. i. Logistics Companies shall construct a minimum of 100,000 square feet for new building construction or must add at least 50,000 square feet to the size of and existing building. Abatement shall only apply to the increased assessed valuation attributable to said new construction or to said addition. ii. Industrial Companies shall construct a minimum of 15,000 square feet for new building construction or must add at least 7,500 square feet to the size of an existing building. Abatement shall only apply to the increased assessed valuation attributable to said new construction or to said addition. iii. Knowledge-based Companies shall construct a minimum of 10,000 square feet or new building construction or must add at least 5,000 square feet to the size of an existing building. Abatement shall only apply to the increased assessed valuation attributable to said new construction or to said addition. iv. The abatements outlined in the ICM area above will be effective after the said rehabilitation, expansion or new construction has been completed and will begin at a time consistent with the Effective Date defined below

ICM Area Project Terms and Conditions. DeKalb County Enterprise Zone property tax abatement shall be available for companies meeting the following criteria in the ICM Area and according to the following terms and conditions. i. Logistics Companies shall construct a minimum of 100,000 square feet for new building construction or must add at least 50,000 square feet to the size of and existing building. Abatement shall only apply to the increased assessed valuation attributable to said new construction or to said addition. ii. Industrial Companies shall construct a minimum of 15,000 square feet for new building construction or must add at least 7,500 square feet to the size of an existing building. Abatement shall only apply to the increased assessed valuation attributable to said new construction or to said addition. iii. Knowledge-based Companies shall construct a minimum of 10,000 square feet or new building construction or must add at least 5,000 square feet to the size of an existing building. Abatement shall only apply to the increased assessed valuation attributable to said new construction or to said addition. iv. The abatements outlined in the ICM area above will be effective after the said rehabilitation, expansion or new construction has been completed and will begin at a time consistent with the Effective Date defined below.