Tiny Toes Daycare - 703 2nd Avenue (701)340-5207
Current Commercial Property
Property ownership must be transferred after the state authorization of the zone to be eligible for both real estate and income tax exemptions
Property may not have been part of a previous zone project
Project must bring property into compliance with all current building codes and all deteriorated conditions that are visible on the exterior of the building.
Property owner must make capital improvements equal to the greatest of the following * 50% of the true and full value of the property prior to improvements
Proposed capital improvements must substantially improve the life expectancy of the property. Capital improvements include, but are not limited to, replacement or updating of roof, foundation, structure, siding, windows, and doors as well as electrical, pluming, heating and cooling systems. Capital improvements do not include new floor covering, window treatments, wall coverings, or furnishings
New Commercial Construction or Additions
Tenant must be leasing space in a building that has been approved as a zone project for current or new commercial property.
Building has been determined by Zone Authority to have been restored or rehabilitated prior to the establishing of the zone meeting all require criteria and now need additional incentives to bring building to full occupancy.
Vacant lots that have never been developed or built on will not receive Renaissance Zone approval per state requirements (Said lots would be lots that do not have or ever had services ex. Water, sewer, road, etc.)
Properties with a history of long term vacancies may be given special consideration by waiving some of the above mentioned requirement