Regulation .09 Redesignation of Enterprise Zones.
Regulation .09 Redesignation of Enterprise Zones.LinkCopy Citation
A.
Upon application, the Secretary may permit redesignation of all or a portion of a designated enterprise zone.
B.
Application Procedure.
(1)
To apply for redesignation, the appropriate political subdivision shall file a complete application showing that the proposed zone meets all the requirements for a new zone.
(2)
A redesignation application shall also include the following information:
(a)
An evaluation of the history and benefits of the existing zone;
(b)
An explanation of why portions of the existing enterprise zones are included in the redesignation request; and
(c)
A comparison of the economic development strategy for the redesignation application with that of the existing zone.
C.
A political subdivision may request redesignation of all or a portion of the designated zone before the end of the 10-year designation period. The new 10-year designation period shall, however, begin immediately upon the redesignation by the Secretary, within 60 days following the submission date, rather than at the end of the original 10-year term.