The Real Property Tax Credit is available to commercial properties located in the Transit Oriented Development (TOD) Area that meet one or more of the following criteria:
1) Improvements on the property are on a free-standing building used for retail,restaurant, or professional office purposes
2) The improvements on the property are occupied by a commercial or professional office use after the property has been vacant for at least two consectuve yeards immediately prior to the current occupancy
3) The rehabilitation of the improvements on the property to meet code requirements and subsequent occupancy of the improvements remove the property from a blighted condition
4) The improvements on the property are used to provide a needed public service to the residents of the City as determined by the City Council.