APPLICATION CONSIDERED FOR
NEW ENTERPRISE ZONE BOUNDARY
Sarasota, FL: The City of Sarasota and Sarasota County
will consider a joint resolution to apply with the State
of Florida to expand the boundary of the current Enterprise
Zone in North Sarasota. The resolution will be discussed
during the regular meeting of the City Commission Tues.,
February 17, 2009 at 2:30pm at City Hall, 1565 First Street.
The resolution also will be discussed by the County Board
of Commissioners, Wed., February 18, 2009 at 9am at the
County Administration Center, 1660 Ringling Blvd.
The proposed expansion would add ten commercial and nonprofit
properties, located along Dr. Martin Luther King Jr. Way
and N. Osprey Ave., to the Enterprise Zone. All ten properties
are situated within the center of the Newtown Redevelopment
Area, and currently are bounded by the Enterprise Zone.
View map of the proposed area.
The Enterprise Zone program, administered by the Florida
Office of Tourism, Trade and Economic Development, offers
incentives for economic development within a designated
zone. Properties located within that zone may qualify for
financial incentives including: tax credits for employing
residents of the zone; state sales tax refunds and sales
tax exemptions on electricity. Also, Sarasota County waives
all County impact fees on properties located within the
zone. Economic development can include building a new structure;
renovation; creating jobs; as well as purchasing machinery
and equipment.
The Sarasota Enterprise Zone Development Agency Advisory
Board recommended the zone expansion, anticipating the
new area could become a potential town center. If approved
by the City and County, a joint application would be submitted
to the State of Florida for consideration. Approval is
based upon poverty levels within the requested area and
the need for economic development.
The Sarasota Enterprise Zone was approved by the State
of Florida in 2002. In total, the Enterprise Zone is less
than two miles, with much of it in the Newtown community.
The boundaries begin approximately 1.5 miles north of downtown
Sarasota, roughly described as beginning at the intersection
of N. Tamiami Trail and 10th Street, north to Myrtle Ave,
east to the Seminole Gulf Railway, south to10th Street,
and west to the beginning at U.S. 41.
For more information, please contact:
Jan
Thornburg, Public Information Officer (941) 954-2613
jan.thornburg@sarasotagov.com
