(a) Upon receipt of an application from the municipality, the board shall review such application and secure any additional information it deems necessary for the purpose of determining whether the area or areas described in the application qualify to be declared an enterprise zone.
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Terms Used In Tennessee Code 13-28-207

  • Board: means the local enterprise zone management board appointed by a municipality. See Tennessee Code 13-28-203
  • Enterprise zone: means an area declared by the board to be eligible for the benefits of this part. See Tennessee Code 13-28-203
  • Municipality: means an incorporated city which has adopted home rule or county which has adopted a metropolitan form of government in accordance with the Constitution of Tennessee, art. See Tennessee Code 13-28-203
(b) The board shall complete its review within ninety (90) days of receipt of the application, but it may extend this time period an additional thirty (30) days if necessary. If the application meets the established criteria, then the board shall declare the designated area to be an enterprise zone. If the application does not meet the criteria, then the board shall deny the application and inform the municipality of that fact, together with a description of the reasons the application failed to meet the criteria. If the board fails to render a decision within the required time period, the application shall be automatically approved.
(c) The board may remove designation of any area as an enterprise zone if such area no longer meets the criteria for designation as set out in this part; provided, that no designation shall be removed less than ten (10) years from the date of original designation unless there are no beneficiaries or qualified businesses remaining in the zone.
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