TOWN OF CHEVERLY
SUPPORTING THE DESIGNATION
OF A STATE ENTERPRISE ZONE
WHEREAS, a State Enterprise Zone has been proposed for an area that includes the Town of Cheverly; and
WHEREAS, the Mayor and Town Council of the Town of Cheverly, have discussed the merits of State Enterprise Zones in Cheverly; and
WHEREAS, the Town has had designated State Enterprise Zones to promote business and economic development; and
WHEREAS, in addition to State income tax credits for new employment, a State Enterprise Zone provides a 10-year County and municipal real property tax credit for new commercial investment that increases the property value and these tax credits could be instrumental in attracting new business investment to communities that have been targeted for revitalization.
NOW THEREFORE BE IT RESOLVED, this 13th day of August, 2009, by the Mayor and Town Council that the Town of Cheverly supports the establishment of State Enterprise Zones in Cheverly.