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Renaissance Zone
Renaissance Zone Program
ND Renaissance Zone Program guidelines (document)
File Size: 865.21 kb
The Fifty-sixth Legislative Assembly created the Renaissance Zone Act under N.D.C.C. ch. 40-63, hereinafter referred to as the "Act", to make it possible for North Dakota cities to apply to the North Dakota Division of Community Services (DCS) to create a Renaissance Zone within their jurisdiction. The Fifty-seventh Legislative Assembly, through Senate Bill 2033 and House Bill 1460, made revisions to refine and provide more clarification for the program. A Renaissance Zone may be a defined geographical area of up to 20 contiguous blocks within a continual boundary. Such an area is typically in the central city consisting of residential and commercial properties that need to be revitalized and redeveloped to attract businesses and residents. The Act provides for certain types of tax exemptions and credits to encourage investment in these properties. A city may apply for the designation of one Renaissance Zone with a duration of up to 15 years, and may request to establish a Renaissance Fund Organization for the purpose of raising funds to invest in approved zone projects throughout the state or other businesses within its own Renaissance Zone.
The implementation of this Act is the responsibility of the DCS and the Office of the State Tax Commissioner.
A Renaissance Zone can be a very important and beneficial tool for community redevelopment and economic investment if properly developed, implemented, and managed. It is crucial that a request to designate a Renaissance Zone is not looked upon simply as a method to provide tax exemptions and credits. The community as a whole needs to be involved in creating a zone and the projects that are approved for the zone need to clearly relate to the long term broader development plans of the city. Local planning and a well thought out and designed Development Plan will be keys to whether or not the DCS will approve the designation of a Renaissance Zone, and if requested, the establishment of a Renaissance Fund Organization.
To apply for a Renaissance Zone, a city must first have a locally adopted comprehensive or strategic plan in place. It must then create a Development Plan (see Appendix B). The Development Plan will describe the area proposed to be designated as the Renaissance Zone; will describe the city's vision, goals and objectives for the zone and discuss how the proposed zone relates to the broader plans for the city; will identify initially targeted properties; will describe the process and selection criteria to be used to select and approve zone projects; will describe how the zone will be managed and promoted; and, if applicable, will describe the desire to establish a Renaissance Fund Organization.
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At the present time, the following cities have a Renaissance Zone: (document)
File Size: 85.67 kb
For information about the program contact Gordon La France at (701) 328-3698.
For tax related questions, contact Joe Becker at (701) 328-3451.
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Additional Related Information
Documents
Renaissance Zone Tax Incentives guidelines
File Size: 80.76 kb
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