560.74 Change in boundary and size of development zones.
560.74
560.74 Change in boundary and size of development zones.560.74(1)
(1) Except as provided under sub. (6), at any time after a development zone is designated by the department, a local governing body may submit an application to change the boundaries of the development zone. If the boundary change reduces the size of a development zone, the local governing body shall explain why the area excluded should no longer be in a development zone. The department may require the local governing body to submit additional information.560.74(2)
(2) The department may approve an application for a boundary change if the development zone, as affected by the boundary changes, meets the applicable requirements of s. 560.735 and 3 of the criteria under s. 560.71 (1) (e) 4.560.74(3)
(3) If the department approves an application for a boundary change under sub. (2), it shall do all of the following:560.74(3)(a)
(a) Redetermine the limit on the tax benefits for the development zone established under s. 560.745 (2) (a).560.74(3)(b)
(b) Notify the local governing body which submitted the application of the change in the boundary or tax benefits limit of the development zone.560.74(4)
(4) The change in the boundaries or tax benefits limit of a development zone shall be effective on the day the department notifies the local governing body under sub. (3) (b).560.74(5)
(5) No change in the boundaries of a development zone may affect the duration of an area as a development zone under s. 560.745 (1) (a). The department may consider a change in the boundary of a development zone when evaluating an application for an extension of the designation of an area as a development zone under s. 560.745 (1) (b).560.74(6)
(6) The department may not accept any applications under sub. (1) to change the boundaries of a development zone designated under s. 560.71 on or after March 6, 2009.560.74 - ANNOT.
History: 1987 a. 328; 1995 a. 209; 1997 a. 103; 2009 a. 2.