§ 118-101. Enterprise zones created pursuant to O.C.G.A. § 36-88-1 et seq.

ORDINANCE NO. 98-0618
Adopted April 15, 1998

Section 1. Definitions.

The following words, terms and phrases, when used in this ordinance, shall have the following meanings, except where the context indicates a different meaning is intended:

(1)

Ad valorem tax shall mean property taxes levied for state or county operating purposes but does not include property taxes imposed by school districts or property taxes imposed for general obligation debt.

(2)

Business enterprise means any business which is engaged primarily in manufacturing, warehousing and distribution, processing, telecommunications, tourism, and research and development industries.

(3)

Enterprise zone means the geographic area designated in section 3 of this ordinance.

(4)

Full-time job equivalent means a job or jobs with no predetermined end date, with a regular work week of 30 hours or more, and with the same benefits provided to similar employees.

(5)

Low-income and moderate-income individual means a person who, at the time of hire, is:

a.

Unemployed or unemployed for three of the six months prior to the date of hire;

b.

Homeless;

c.

A resident of public housing;

d.

Receiving temporary assistance to needy families or who has received temporary assistance to needy families at any time during the 18 months previous to the date of hire;

e.

A participant in the Job Training Partnership Act or who has participated in the Job Training Partnership Act at any time during the 18 months previous to the date of hire;

f.

A participant in a job opportunity where basic skills are required or who has participated in such a job opportunity at any time during the 18 months previous to the date of hire;

g.

Receiving supplemental social security income; or

h.

Receiving food stamps.

(6)

New job means employment for an individual created within an enterprise zone by a new or expanded qualified business or service enterprise at the time of the initial staffing of such new or expanded enterprise.

(7)

Qualified or qualifying business means an employer that meets the requirements of O.C.G.A. § 36-88-1, et seq. (including O.C.G.A. § 36-88-4) and section 4(b) of this ordinance.

(8)

Qualified or qualifying service enterprise means an entity that meets the requirements of O.C.G.A. § 36-88-1 et seq. (including O.C.G.A. § 36-88-4) and section 4(b) of this ordinance, and that is engaged primarily in finance, insurance, and real estate activity or activities listed under the Standard Industrial Classification (SIC) Codes 60 through 67 according to the Federal Office of Management and Budget Standard Industrial Classification Manual, 1987 Edition.

Section 2. Purpose and scope.

It has been found by the Board of Commissioners of Fulton County and the Fulton County Economic Development Division that there is a need for revitalization in certain areas of Fulton County. Revitalization will improve geographic areas within Fulton County which are suffering from disinvestment, underdevelopment, and economic decline and will encourage private businesses to reinvest and rehabilitate such areas. This ordinance should be liberally construed to accomplish these purposes.

Section 3. Boundaries of enterprise zones.

(a)

The Board of Commissioners of Fulton County and the Fulton County Economic Development Division have determined that the area contained in the enterprise zone delineated below satisfies at least three of the four criteria set forth in O.C.G.A. § 36-88-6. More specifically, it is determined that there is evidence of adverse economic conditions brought about by significant job dislocation within the area delineated below, there is evidence of general distress within the area other than poverty and unemployment, and there is evidence of underdevelopment within the area showing that the level of development in the nominated area is at least 20 percent lower than development activity within Fulton County as a whole. The enterprise zone created herein shall have the following geographic boundaries:

Beginning at the intersection of the northeasterly right-of-way of Norman Berry Drive and the southeasterly right-of-way of Cleveland Avenue, said point being the True Point of Beginning; thence running northeasterly along the southerly right-of-way of Cleveland Avenue approximately 248 feet to a point; thence running easterly along the southerly right-of-way of Cleveland Avenue approximately 642 feet to a point at the intersection of the southerly right-of-way of Cleveland Avenue and the westerly right-of-way of Sylvan Road; thence running southerly along the westerly right-of-way of Sylvan Road a distance of approximately 1385 feet to a point; thence running southwesterly a distance of approximately 62 feet to a point, said point being on the City Limit line for the City of East Point; thence running westerly approximately 250 feet to a point, said point being the intersection of the City of East Point City Limit line and the northerly right-of-way of Central Avenue; thence running northwesterly along the northern right-of-way of Central Avenue a distance of approximately 448 feet to a point, said point being the intersection of the northerly right-of-way of Central Avenue and the easterly right-of-way of Norman Berry Drive; thence running northerly along the easterly right-of-way of Norman Berry Drive approximately 1337 feet to a point at the intersection of the northeasterly right-of-way of Norman Berry Drive and the southeasterly right-of-way of Cleveland Avenue, said point being the True Point of Beginning.

(b)

Flat Shoals Crossing Enterprise Zone [Created March 17, 1999].

Within the area delineated below, it is determined that (1) there is evidence of adverse economic conditions brought about by significant job dislocation within the nominated area (O.C.G.A. § 36-88-6(c)), (2) there is evidence of general distress such as functionally obsolete structures, and (3) there is evidence of underdevelopment within the area showing that the level of development in the nominated area is at least 20 percent lower than development activity within Fulton County as a whole. Accordingly, there is hereby created an enterprise zone with the following geographic boundaries:

Parcel 1:

All that tract or parcel of land lying and being in Land Lot 125 of the 13th District of Fulton County, Georgia, as per survey of site for Granny's by Travis Pruitt & Associates, P.C., dated August 14, 1978, more particularly described as follows:

BEGINNING at an iron pin found on the southerly side of the right-of-way of Flat Shoals Road (having a 80 feet right-of-way) which iron pin found is located 175.0 feet from the westerly side of the right-of-way of Old National Highway (having a 100 foot right-of-way) as measured in a westerly direction along the said southerly side of Flat Shoals Road from the intersection of the westerly side of the right-of-way of Old National Highway with the southerly side of the right-of-way of said Flat Shoals Road; running thence south 08 degrees 45 minutes west a distance of 190.0 feet to an iron pin set; running thence north 81 degrees 39 minutes west a distance of 81.7 feet to an iron pin set; running thence north 09 degrees 03 minutes 05 seconds east a distance of 190.04 feet to an iron pin set on the southerly side of the right-of-way of Flat Shoals Road; running thence south 01 degree 37 minutes 30 seconds east a distance of 80.7 feet along the southerly side of the right-of-way of Flat Shoals Road to the iron pin found and the POINT OF BEGINNING, said tract containing 0.354 acres according to said plat. Said tract also being shown on lease plat, Phase I, Pineview Plaza Shopping Center, prepared by Watts & Drowning Engineers dated December 21, 1972, the last revision being on July 29, 1975.

Parcel A:

All that tract or parcel of land lying and being in Land Lot 125 of the 13th District of Fulton County, Georgia, and being more particularly described as follows:

BEGINNING at a point marked by an iron pin on the westerly side of Old National Highway (Old National Highway having a right-of-way of 100 feet in width) 190 feet southerly from the corner formed by the intersection of the westerly side of Old National Highway and the southwesterly side of Flat Shoals Road (Flat Shoals Road having a right-of-way of 80 feet in width); thence southerly as measured along the westerly side of Old National Highway a distance of 443 feet to an iron pin; thence north 87 degrees 38 minutes 30 seconds west a distance of 668 feet to an iron pin; thence north 01 degree minutes east a distance of 482 feet to an iron pin; thence south 88 degrees 48 minutes & 30 seconds east a distance of 200 feet to an iron pin; thence north 00 degree 49 minutes 30 seconds east a distance of 200 feet to an iron pin located on the southwesterly side of Flat Shoals Road; thence southeasterly as measured along the southwesterly side of Flat Shoals Road a distance of 347.5 feet to an iron pin; thence south 08 degrees 45 minutes west a distance of 190 feet to an iron pin; thence south 81 degrees 39 minutes west a distance of 175 feet to the point of beginning.

Less and excepting the following Parcel 1

Parcel B:

Together with the following tract:

Being all that tract or parcel of land located in LL 125 of the 13th District, Fulton County, Georgia per survey of Watts & Browning Engineers dated October 24, 1972, and being further revised November 25, 1987, commencing on the westerly right-of-way of Old National Highway (100;ft; r/w) 783 feet southerly from the intersection of the westerly right-of-way line of Old National Highway with the southerly right-of-way of Flat Shoals Road (80;ft; r/w); thence S 2 degrees 8;ft; W along the westerly right-of-way of Old National Highway a distance of 132 feet to a point at the northerly side of Phase II-A Pineview Plaza Shopping Center; running thence N 89 degrees 27;ft; W along the northerly side of said Phase 11-A a distance of 200.08 feet to a point; WHICH POINT IS THE TRUE POINT OF BEGINNING; running thence along the northerly side of Phase II-A N 89 degrees 27;ft; W a distance of 463.52 feet to property now or formerly owned by Glover; running thence along the easterly side of said Glover property N 01 degree 16;ft; E, 303.0 feet to the southerly side of Phase I-A of Pineview Plaza Shopping Center; running thence S 87 degrees 38;ft; 30;inch; E, 468 feet to the northerly line of property now or formerly owned or occupied by Stonegate Package Store; running thence S 02 degrees 08;ft; W, 288.31 feet to the true point of beginning; containing 3.16 acres and being a portion of said Phase I-B Pineview Plaza Shopping Center.

Parcel C:

Together with the following tract:

Being all that tract or parcel of land located in LL 125 of the 13th District, Fulton County, Georgia by survey of Watts & Browning Engineers dated October 24, 1972 as revised October 20, 1987, commencing on the westerly right-of-way of Old National Highway (100;ft; r/w) 915 feet southerly from the intersection of the westerly right-of-way line of Old National Highway with the southerly right-of-way of Flat Shoals Road; thence S 2 degrees 8;ft; W along the westerly right-of-way of Old National Highway a distance of 440 feet to a point; running thence N 88 degrees 07;ft; W 643.96 feet along the northerly side of Phase II-B Pineview Plaza to property now or formerly owned by Glover; running thence along the easterly side of said Glover property N 01 degree 16;ft; E 424.58 feet to the southerly side of Phase I-B; running thence S 89 degrees 27;ft; E a distance of 663.6 feet to the westerly side of the right-of-way of Old National Highway to the point of beginning; "less and excepting any portion of the frontage of said property not to exceed a strip of 6 feet in width, that has been heretofore been required by the Georgia DOT and/or Fulton County, Georgia for road widening purposes;" and less and excepting the following described property, which is owned by Treadwick Ltd, being more particularly described as follows:

Being all that tract or parcel of land located in LL 125 of the 13th District, Fulton County, Georgia survey of Watts & Browning Engineers dated August 11, 1986 as revised by Frederic Dean, AIA, commencing on the westerly right-of-way of Old National Highway 960 feet southerly from the intersection of the westerly right-of-way line of Old National Highway with the southerly right-of-way of Flat Shoals Road; running thence S 2 degrees 8;ft; along the westerly right-of-way of Old National Highway a distance of 130 feet to a point; running thence westerly along a course that forms an interior angle of 90 degrees with the last preceding course a distance of 220 feet to a point; running thence northerly along a course that forms an interior angle of 90 degrees with the last preceding course and parallel with the course along Old National Highway a distance of 130 feet to a point; at the southerly line of 45 foot wide driveway being constructed, running thence easterly along a course that forms an interior angle of 90 degrees with the last preceding course and along the southerly line of said driveway a distance of 220 feet to the westerly right-of-way line of Old National Highway and the true point of beginning; "less and excepting any portion of the frontage of said property, not to exceed a strip of 6 feet in width, that has been heretofore been required by the Georgia DOT and/or Fulton County, Georgia for road widening purposes;" together with the unobstructed right, in common with all other granted similar rights by Lessor to use a 45 foot wide driveway area located north of and contiguous to the above described premises.

Parcel D:

Together with the following tract:

Being all that tract or parcel of land located in LL 125 of the 13th District Fulton County, Georgia, per survey of Watts & Browning Engineers dated October 24, 1972 as revised October 20, 1987, commencing on the westerly right-of-way of Old National Highway (100;ft; r/w) 1,355 feet southerly from the intersection of the westerly right-of-way line of Old National Highway with the southerly right-of-way of Flat Shoals Road; (80;ft; r/w); thence S 2 degrees 8;ft; W along the westerly right-of-way of Old National Highway a distance of 425.7 feet to the southerly line of LL 125; thence N 88 degrees 07;ft; W along the southerly line of said LL 125 a distance of 650.4 feet to a concrete marker located at the southeasterly corner of property now or formerly owned by Glover; running thence along the easterly side of said Glover property N 01 degree 16;ft; E a distance of 425.72 feet to the southerly side of Phase II-A Pineview Plaza running thence south 88 degrees 07;ft; E along the southerly side of said Phase II-A a distance of 643.96 to the point of beginning; "less and excepting any portion of the frontage of said property, not to exceed a strip of 6 feet in width, that has been heretofore been required by the Georgia DOT and/or Fulton County, Georgia for road widening purposes."

Parcel E:

Together with the following tract:

All that tract or parcel of land lying and being in Land Lot 125 of the 13th District of Fulton County, Georgia, and being more particularly described as follows:

BEGINNING at a point on the southerly land lot line of Land Lot 125 of the 13th District of Fulton County, Georgia, a distance of 936.77 feet easterly from the land lot corner common to Land Lots 125, 126, 131 and 132; thence S 89 degrees 29;ft; 29;inch; E a distance of 587.59 feet to a point; thence N 0 degree 42;ft; 21;inch; E a distance of 1,898.43 feet to a point on the southerly right-of-way of Flat Shoals Road; thence easterly along the southerly right-of-way of Flat Shoals Road a distance of 326.13 feet to a point; thence S 0 degree 42;ft; 21;inch; W a distance of 1,870.12 feet to a point on the southerly land lot line of Land Lot 125; thence N 89 degrees 29;ft; 29;inch; W along the southerly land lot line of Land Lot 125 a distance of 325.00 feet to a point and the point of beginning.

Said tract of land containing 14.06 acres.

Parcel F:

Together with the following tract:

All that tract or parcel of land lying and being in Land Lot 125 of the 13th District of Fulton County, Georgia, and being more particularly described as follows:

BEGINNING at a point on the southerly land lot line of Land Lot 125 of the 13th District of Fulton County, Georgia, a distance of 936.77 feet easterly from the land lot corner common to Land Lots 125, 126, 131 and 132; thence North 1 degree 50 minutes 19 seconds West, a distance of 775.02 feet to a point; thence North 0 degree 23 minutes 40 seconds East, a distance of 1,178.78 feet to a point on the southerly right-of-way of Flat Shoals Road; thence easterly along the southerly right-of-way of Flat Shoals Road a distance of 630.59 feet to a point; thence South 0 degree 42 minutes 21 seconds West, a distance of 1,898.43 feet to a point on the southerly land lot line of Land Lot 125; thence North 89 degrees 29 minutes 29 seconds West, along the southerly land lot line of Land Lot 125, a distance of 587.59 feet to a point and the point of beginning.

Said tract of land containing 27.28 acres.

Parcel G:

Together with the following tract:

Being all that tract or parcel of land located and being in LL 132, 13th District of Fulton County, Georgia and being shown as Tract One of boundary survey for Bennie and Leon Auerbach, by Civil Design, Inc., John E. Didicher, R.L.S. #1905 and being more particularly described as follows:

Start at the common corner of LL 125, 126, 131 and 132 of said district at a one-half inch rebar at the Northwest corner of said LL 132; run thence S 87 degrees 32;ft; 44;inch; E along north line of said LL 855.94;ft; to a concrete monument which is the true point of beginning; continue then easterly along the same course as the previous course 526.19;ft; to a rock corner at the northwesterly corner of property now or formerly owned by West Henry Land Corp; run thence S 01 degree 42;ft; 28;inch; E 1,265.03;ft; along the westerly side of said West Henry Land Corp. property to a point; run thence N 88 degrees 23;ft; 57;inch; W 342.00;ft; along the northerly side of Tract Six of said plat; run thence N 61 degrees 32;ft; 27;inch; W 189.76;ft; to a point; run thence N 88 degrees 18;ft; 48;inch; W 14.70;ft; to the southeasterly corner of Tract Two of said plat; run thence N 01 degree 42;ft; 27;inch; E 1,187.12;ft; to the concrete monument at the true point of beginning 15.13 acres per said plat.

Together with an easement 320;ft; in length and 75;ft; in width along the westerly side of said West Henry Land Corp. property; said easement extending from the southerly side of said 15.13 acre tract to Woodward Road.

(c)

Reserved.

(d)

Reserved.

(e)

College Park Riverdale Road Enterprise Zone [Created November 21, 2001].

Within the area delineated below, it is determined that (1) the average rate of unemployment within the nominated area for the preceding calendar year is at least 20 percent higher than the state average unemployment, (2) general distress in the nominated area is evidenced by high incidence of crime, abandoned or dilapidated structures, deteriorated infrastructure and substantial population decline, and (3) there is evidence of underdevelopment within the area showing that the level of development in the nominated area is at least 20 percent lower than development activity within Fulton County as a whole. Accordingly, there is hereby created an enterprise zone with the following geographic boundaries:

The Riverdale Road corridor of College Park, Georgia in Land Lot 4 of the 13th District of Fulton County and more particularly described as follows:

All those tracts or parcels of land lying and being in Land Lot 4 of the 13th District of Fulton County, Georgia and being more particularly described as follows:

POINT OF BEGINNING is the southeast corner of Camp Creek Parkway (State Route 6) and Herschel Road; thence South +/2,524.23 feet along the eastern right-of-way of Herschel Road to the

TRUE POINT OF BEGINNING which is the northeast corner of Herschel Road and Herschel Park Drive, thence 523.0 feet N 89;deg; 06;min; E to an iron pin found (IPF); thence 249.2 feet N 00;deg; 41;min; W to IPF; thence 173.4 feet S 89;deg; 09;min; W to IPF; thence 125.0 feet N 00;deg; 41;min; W to IPF, thence 415.0 feet N 89;deg; 11;min; E to IPF, thence 351.1 feet N 89;deg; 11;min; E to IPF, thence +/- 140 feet N 01[;deg;] 56;min; 31;sec; E to iron pin set (IPS); thence 322.37 feet S 66;deg; 17;min; 28;sec; E along the southern right-of-way of Former Green Valley Drive to the eastern land lot line shared with land lot 5; thence +/- 320 feet S 02 00;deg; 17;min; W along the eastern land lot line to an IPS; thence 664.75 feet S 02;deg; 00;min; 17;sec; W along the eastern land lot line to IPF; thence 49.76 feet S 03[;deg;] 05;min; 20;sec; W along the eastern land lot line and western right-of-way of First Avenue to IPF; thence 150.0 feet S 89;deg; 37;min; W to IPS set on southern land lot line shared with land lot 29; thence 577.9 feet S 89;deg; 31;min; W along the southern land lot line to IPF; thence 586.3 feet N 00;deg; 31;min; W to IPF; thence 700.4 feet S 89;deg; 01;min; W to IPF, thence 200.0 feet S 89;deg; 01;min; W to a point on the eastern right-of-way of Herschel Road, thence 156.0 feet north along the eastern right-of-way of Herschel Road to IPF; thence 60.0 feet N 01;deg; 00;min; W along the eastern right of Herschel Road across Herschel Park Drive to the TRUE POINT OF BEGINNING.

(f)

Porshe Cars North America Industrial Urban Enterprise Zone.

Within the area delineated below, it is determined that: (1) the average rate of unemployment within the nominated area for the preceding calendar year (2013) is 57 percent higher than the state average unemployment; (2) general distress in the nominated area is evidenced by abandoned or dilapidated structures, and deteriorated infrastructure; and (3) pervasive poverty rate is widespread within the nominated area as evidenced by two U.S. Census Tracts 72 and 108. Accordingly, there is hereby created the Porsche North America Industrial Urban Enterprise Zone with the following geographic boundaries:

All that tract or parcel of land lying and being in Land Lot 96 of the 14th District, City of Hapeville, Fulton County, Land Lot 65 of the 14th District, City of Atlanta, Fulton County, and Land Lots 11 and 12 of the 13th District, Clayton County, Georgia, and being more particularly described as follows:

Commence at the intersection of the line common to Land Lots 11 and 12, 13th District, Clayton County, Georgia, and the South boundary line of Land Lot 65, 14th District, Fulton County, Georgia, said Point of Commencement being located North 88 degrees 49 minutes 32 seconds West a distance of 307.92 feet as measured from a concrete monument found at the intersection of said county line and the northwesterly right-of-way of Interstate Highway 1-75 (having a varied right-of-way); run thence along the said South boundary line of Land Lot 65 South 88 degrees 49 minutes 32 seconds East a distance of 69.64 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING;

From THE TRUE POINT OF BEGINNING as thus established, run South 00 degrees 59 minutes 39 seconds West for a distance of 135.01 feet to a point; thence run South 06 degrees 47 minutes 07 seconds West for a distance of 110.57 feet to a 12" rebar found; thence run South 89 degrees 01 minutes 28 seconds East for a distance of 205.14 feet to a 12" rebar found, said 12" rebar found being located on the westerly right-of-way of Leslie Drive; thence run along the said westerly right-of-way of Leslie Drive South 16 degrees 06 minutes 40 seconds West for a distance of 56.14 feet to a point; thence continue to run along the said westerly right-of-way of Leslie Drive South 16 degrees 34 minutes 15 seconds West for a distance of 45.19 feet to a point; thence continue to run along the said westerly right-of-way of Leslie Drive South 19 degrees 14 minutes 13 seconds West for a distance of 228.78 feet to an iron pin set; thence leave the said westerly right-of-way of Leslie Drive and run North 89 degrees 37 minutes 50 seconds West for a distance of 163.51 feet to an iron pin set; thence run North 89 degrees 37 minutes 49 seconds West for a distance of 388.80 feet to an iron pin set; thence run North 00 degrees 15 minutes 32 seconds East for a distance of 365.19 feet to an iron pin set; thence run North 89 degrees 09 minutes 30 seconds West for a distance of 16.73 feet to an iron pin set; thence run North 00 degrees 01 minutes 12 seconds East for a distance of 44.94 feet to an iron pin set; thence run South 88 degrees 59 minutes 21 seconds East for a distance of 85.90 feet to an iron pin set; thence run North 00 degrees 51 minutes 50 seconds East for a distance of 157.21 feet to an iron pin set; thence run North 00 degrees 51 minutes 50 seconds East for a distance of 103.03 feet to an iron pin set; thence run South 89 degrees 35 minutes 09 seconds East for a distance of 163.93 feet to an iron pin set; thence run North 00 degrees 24 minutes 44 seconds East for a distance of 1,637.12 feet to a nail set on the southerly right-of-way of Henry Ford II Avenue (public road having a variable width right-of-way); thence run along said right-of-way South 63 degrees 35 minutes 46 seconds East for a distance of 19.79 feet to a nail set; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue South 01 degrees 25 minutes 46 seconds East for a distance of 87.03 feet to a concrete monument found; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue North 49 degrees 11 minutes 35 seconds East for a distance of 83.48 feet to a concrete monument found; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue South 74 degrees 56 minutes 05 seconds East for a distance of 215.00 feet to a concrete monument found; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue South 73 degrees 38 minutes 40 seconds East for a distance of 214.51 feet to a concrete monument found, said concrete monument found being located at the northwesterly corner of the mitered right-of-way of the intersection of the said southerly right-of-way of Henry Ford II Avenue and the westerly right-of-way of Interstate Highway 1-75; thence run along the said mitered right-of-way South 25 degrees 08 minutes 14 seconds East for a distance of 67.20 feet to a concrete monument found, said concrete monument found being located at the southeasterly corner of said mitered right-of-way; thence leave said mitered right-of-way and run along the said westerly right-of-way of Interstate Highway 1-75 the following courses and distances: South 14 degrees 38 minutes 38 seconds West for a distance of 462.64 feet to a point; thence run along a curve to the left having a radius of 236.51 feet and an arc length of 162.21 feet, said arc being subtended by a chord with a bearing of South 05 degrees 00 minutes 13 seconds East and a length of 159.05 feet, to a point; thence run South 24 degrees 47 minutes 31 seconds East for a distance of 86.70 feet to a point; thence run South 23 degrees 26 minutes 55 seconds East for a distance of 203.39 feet to a concrete monument found; thence run along a curve to the right having a radius of 676.20 feet and an arc length of 266.23 feet, said arc being subtended by a chord with a bearing of South 05 degrees 47 minutes 01 seconds East and a length of 264.51 feet, to a concrete monument found; thence run South 10 degrees 52 minutes 49 seconds West for a distance of 194.36 feet to a concrete monument found; thence run South 14 degrees 38 minutes 06 seconds West for a distance of 169.36 feet to a concrete monument found; thence run North 75 degrees 22 minutes 01 seconds West for a distance of 20.00 feet to a concrete monument found; thence run South 14 degrees 37 minutes 59 seconds West for a distance of 50.93 feet to a concrete monument found; thence leave the said westerly right-of-way of Interstate Highway 1-75 and run North 88 degrees 49 minutes 32 seconds West for a distance of 238.28 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING. Said property contains 1,141,885 square feet (26.214 acres).

TOGETHER WITH the non-exclusive easements appurtenant to the above-described tract of land granted by and more particularly described in that certain Easement Agreement by and between Airport Station, L.L.C., and the City of Atlanta, dated September 30, 2011, filed for record October 5, 2011, recorded in Deed Book 50440, Page 499, Records of Fulton County, Georgia and filed for record October 4, 2011, recorded in Deed Book 10015, Page 66, Records of Clayton County, Georgia, as amended and restated by that certain Amended and Restated Easement Agreement between Airport Station, L.L.C., and the City of Atlanta, dated May 11, 2012.

The above tract of land is shown on and described according to "ALTAI ACSM Land Title Survey for Porsche Cars North America, Inc., Airport Station, L.L.C., and Chicago Title Insurance Company," prepared by Lowe Engineers, LLC, bearing the seal and certification of Scott C. North, Georgia Registered Land Surveyor No. 3176, dated April 16, 2012, which survey is by this reference incorporated herein and made a part hereof.

Said Tract I property (described in its entirety hereinabove) lies within three separate municipalities, whose individual portions are described as follows:

Tract I - Portion within Land Lot 96, 14th District, City of Hapeville, Fulton County, Georgia

All that tract or parcel of land lying and being in Land Lot 96 of the 14th District, City of Hapeville, Fulton County, Georgia and being more particularly described as follows:

Commence at the intersection of the line common to Land Lots 11 and 12, 13th District, Clayton County, Georgia, and the South boundary line of Land Lot 65, 14th District, Fulton County, Georgia, said Point of Commencement being located North 88 degrees 49 minutes 32 seconds West a distance of 307.92 feet as measured from a concrete monument found at the intersection of said county line and the northwesterly right-of-way of Interstate Highway 1-75 (having a varied right-of-way); thence run along the said South boundary line of Land Lot 65 North 88 degrees 49 minutes 32 seconds West a distance of 158.94 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING;

From THE TRUE POINT OF BEGINNING as thus established run North 88 degrees 49 minutes 32 seconds West for a distance of 164.76 feet to an iron pin set; thence run North 00 degrees 51 minutes 50 seconds East for a distance of 103.03 feet to an iron pin set; thence run South 89 degrees 35 minutes 09 seconds East for a distance of 163.93 feet to an iron pin set; thence run South 00 degrees 24 minutes 44 seconds West for a distance of 105.21 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING.

Said property contains 17,111 square feet (0.393 acres).

Tract I - Portion within Land Lot 65, 14th District, City of Atlanta, Fulton County, Georgia

All that tract or parcel of land lying and being in Land Lot 65 of the 14th District, City of Atlanta, Fulton County, Georgia and being more particularly described as follows:

Commence at the intersection of the line common to Land Lots 11 and 12, 13th District, Clayton County, Georgia, and the South boundary line of Land Lot 65, 14th District, Fulton County, Georgia, said Point of Commencement being located North 88 degrees 49 minutes 32 seconds West a distance of 307.92 feet as measured from a concrete monument found at the intersection of said county line and the northwesterly right-of-way of Interstate Highway 1-75 (having a varied right-of-way); thence run along the said South boundary line of Land Lot 65 South 88 degrees 49 minutes 32 seconds East a distance of 69.64 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING;

From THE TRUE POINT OF BEGINNING as thus established run North 88 degrees 49 minutes 32 seconds West for a distance of 228.58 feet to an iron pin set; thence run North 00 degrees 24 minutes 44 seconds East for a distance of 105.21 feet to an iron pin set; thence run North 00 degrees 24 minutes 44 seconds East for a distance of 1,637.12 feet to a nail set on the southerly right-of-way of Henry Ford II Avenue (having a variable width right-of-way); thence run along said right-of-way South 63 degrees 35 minutes 46 seconds East for a distance of 19.79 feet to a nail set; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue South 01 degrees 25 minutes 46 seconds East for a distance of 87.03 feet to a concrete monument found; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue North 49 degrees 11 minutes 35 seconds East for a distance of 83.48 feet to a concrete monument found; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue South 74 degrees 56 minutes 05 seconds East for a distance of 215.00 feet to a concrete monument found; thence continue to run along the said southerly right-of-way of Henry Ford II Avenue South 73 degrees 38 minutes 40 seconds East for a distance of 214.51 feet to a concrete monument found, said concrete monument found being located at the northwesterly corner of the mitered right-of-way of the intersection of the said southerly right-of-way of Henry Ford II Avenue and the westerly right-of-way of Interstate Highway 1-75; thence run along the said mitered right-of-way South 25 degrees 08 minutes 14 seconds East for a distance of 67.20 feet to a concrete monument found, said concrete monument found being located at the southeasterly corner of said mitered right-of-way; thence leave said mitered right-of-way and run along the said westerly right-of-way of Interstate Highway 1-75 the following courses and distances: South 14 degrees 38 minutes 38 seconds West for a distance of 462.64 feet to a point; thence run along a curve to the left having a radius of 236.51 feet and an arc length of 162.21 feet, said arc being subtended by a chord with a bearing of South 05 degrees 00 minutes 13 seconds East and a length of 159.05 feet, to a point; thence run South 24 degrees 47 minutes 31 seconds East for a distance of 86.70 feet to a point; thence run South 23 degrees 26 minutes 55 seconds East for a distance of 203.39 feet to a concrete monument found; thence run along a curve to the right having a radius of 676.20 feet and an arc length of 266.23 feet, said arc being subtended by a chord with a bearing of South 05 degrees 47 minutes 01 seconds East and a length of 264.51 feet, to a concrete monument found; thence run South 10 degrees 52 minutes 49 seconds West for a distance of 194.36 feet to a concrete monument found; thence run South 14 degrees 38 minutes 06 seconds West for a distance of 169.36 feet to a concrete monument found; thence run North 75 degrees 22 minutes 01 seconds West for a distance of 20.00 feet to a concrete monument found; thence run South 14 degrees 37 minutes 59 seconds West for a distance of 50.93 feet to a concrete monument found; thence leave the said westerly right-of-way of Interstate Highway 1-75 and run North 88 degrees 49 minutes 32 seconds West for a distance of 238.28 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING.

Said property contains 829,625 square feet (19.045 acres).

Tract I - Portion within Land Lots 11 and 12, 13th District, Clayton County, Georgia

All that tract or parcel of land lying and being in Land Lots 11 and 12 of the 13th District, Clayton County, Georgia and being more particularly described as follows:

Commence at the intersection of the line common to Land Lots 11 and 12, 13th District, Clayton County, Georgia, and the South boundary line of Land Lot 65, 14th District, Fulton County, Georgia, said Point of Commencement being located North 88 degrees 49 minutes 32 seconds West a distance of 307.92 feet as measured from a concrete monument found at the intersection of said county line and the northwesterly right-of-way of Interstate Highway 1-75 (having a varied right-of-way); thence run along the said South boundary line of Land Lot 65 South 88 degrees 49 minutes 32 seconds East a distance of 69.64 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING;

From THE TRUE POINT OF BEGINNING as thus established run South 00 degrees 59 minutes 39 seconds West for a distance of 135.01 feet to a point; thence run South 06 degrees 47 minutes 07 seconds West for a distance of 110.57 feet to a 12" rebar found; thence run South 89 degrees 01 minutes 28 seconds East for a distance of 205.14 feet to a 12" rebar found, said 12" rebar found being located on the westerly right-of-way of Leslie Drive; thence run along the said westerly right-of-way of Leslie Drive South 16 degrees 06 minutes 40 seconds West for a distance of 56.14 feet to a point; thence continue to run along the said westerly right-of-way of Leslie Drive South 16 degrees 34 minutes 15 seconds West for a distance of 45.19 feet to a point; thence continue to run along the said westerly right-of-way of Leslie Drive South 19 degrees 14 minutes 13 seconds West for a distance of 228.78 feet to an iron pin set; thence leave the said westerly right-of-way of Leslie Drive and run North 89 degrees 37 minutes 50 seconds West for a distance of 163.51 feet to an iron pin set; thence run North 89 degrees 37 minutes 49 seconds West for a distance of 388.80 feet to an iron pin set; thence run North 00 degrees 15 minutes 32 seconds East for a distance of 365.19 feet to an iron pin set; thence run North 89 degrees 09 minutes 30 seconds West for a distance of 16.73 feet to an iron pin set; thence run North 00 degrees 01 minutes 12 seconds East for a distance of 44.94 feet to an iron pin set; thence run South 88 degrees 59 minutes 21 seconds East for a distance of 85.90 feet to an iron pin set; thence run North 00 degrees 51 minutes 50 seconds East for a distance of 157.21 feet to an iron pin set; thence run South 88 degrees 49 minutes 32 seconds East for a distance of 393.34 feet to an iron pin set, said iron pin set also being THE TRUE POINT OF BEGINNING.

Said property contains 295,149 square feet (6.776 acres).

(Ord. No. 99-0408, § 1, 3-17-99; Ord. No. 01-1259, § 1, 11-21-01; Ord. No. 14-0361, 5-21-14)

Section 4. Qualification and incentives.

(a)

In order to encourage revitalization within the designated enterprise zone, the following exemptions from state and county ad valorem taxes are available to qualifying business and service enterprises:

(1)

One hundred percent of the state and county ad valorem taxes shall be exempt for the first five years;

(2)

Eighty percent of the state and county ad valorem taxes shall be exempt for the next two years;

(3)

Sixty percent of the state and county ad valorem taxes shall be exempt for the next (eighth) year;

(4)

Forty percent of the state and county ad valorem taxes shall be exempt for the next (ninth) year; and

(5)

Twenty percent of the state and county ad valorem taxes shall be exempt for the last (tenth) year.

(b)

A qualifying business or service enterprise is an enterprise which increased employment by five or more new full-time job equivalents in the enterprise zone designated in section 3 of this ordinance and which enterprise provides additional economic stimulus in such enterprise zone. The quality and quantity of such additional economic stimulus shall be determined, on a case-by-case basis, by the Fulton County Board of Commissioners. Such business or service enterprise may be new, an expansion project for an existing business or service enterprise, a reinvestment into an existing business or service enterprise, or a successor to such business or service enterprise. At no time shall this ordinance be construed to apply to a business or service enterprise's land, buildings, equipment or other property that existed at the time of enactment of this ordinance unless such business or service enterprise qualifies under section 4(d) of this ordinance. Whenever possible, ten percent of the above-described new full-time job equivalents shall be filled or staffed with low-income or moderate-income individuals.

(c)

For a qualifying business or service enterprise located within the enterprise zone designated herein, the schedule provided for in paragraph (a) of this section shall begin in the calendar year following said enterprise's designation as a "qualifying business or service enterprise" by the Mayor and City Council of East Point and the Fulton County Board of Commissioners. Nothing contained in this ordinance shall be construed as giving any business or service enterprise or property owner a vested right to be designated as a qualifying business or service enterprise. A minimum of five new jobs must be created and maintained for a qualifying business or service enterprise to maintain eligibility for the tax exemption provided for in this ordinance. Evidence of the creation and maintenance of all new jobs within the enterprise zone shall be submitted to the Fulton County Economic Development Division by the qualifying business or service enterprise at such times as required by said division, and no less frequently than annually.

(d)

If, on or after the effective date of this ordinance [April 15, 1998], a project within the designated enterprise zone consists of rehabilitation and improvement of an existing structure and the value of said improvement exceeds the value of the accompanying tract or parcel of land by a ratio of five to one, then the exemption schedule in paragraph (a) of this section shall also apply whether or not the rehabilitation project is carried out by a qualifying business or service enterprise. The tax exemptions pursuant to this paragraph shall commence in the year following designation of the project by the Mayor and City Council of East Point and the Fulton County Board of Commissioners as a qualifying project under this paragraph. This designation shall not be requested until completion of the rehabilitation project.

(e)

In no event shall the value of the property tax exemptions granted within Fulton County as a whole exceed ten percent of the value of the property tax digest of Fulton County.

Section 5. Duration.

The area hereby designated as an enterprise zone shall remain in existence for ten years from the first day of the calendar year immediately following the effective date of this ordinance [April 15, 1998]. Ad valorem tax exemptions available to a qualified business or service enterprise in the enterprise zone herein created shall remain in effect for the full ten-year period established in section 4(a) of this ordinance, regardless of the termination of the designation of an enterprise zone.

Section 6. Administration.

The Fulton County Economic Development Division, together with the East Point Department of Community Services, shall administer and enforce this ordinance for the purpose of determining the applicability of the exemptions provided herein.

Section 7. Application.

(a)

Each enterprise desiring designation as a "qualifying business or service enterprise" under this ordinance must apply to the Fulton County Economic Development Division as well as the East Point Department of Community Services. In addition to other information requested by the Fulton County Economic Development Division, the application should be accompanied by the following items:

(1)

A description of the business(es) conducted by the applicant at the subject location within the enterprise zone;

(2)

Documentation reflecting the number of full-time job equivalents maintained by the applicant at the subject location within the enterprise zone as of the date of application, as compared to the number of such full-time job equivalents maintained as of the effective date of this ordinance [April 15, 1998];

(3)

The name and address of each employee occupying each new full-time job at the subject location within the enterprise zone, and a determination of whether each such employee was a low-income or moderate-income individual as of the date of hire for the new full-time job;

(4)

A description and documentation of any additional economic stimulus provided within the enterprise zone by the applicant.

(b)

For those enterprises applying for exemption under section 4(d) of this ordinance, the application to the Fulton County Economic Development Division shall be accompanied by the following:

(1)

A description of the business(es) conducted by the applicant at the subject location within the enterprise zone;

(2)

Documentation reflecting expenses of rehabilitation of the existing structure;

(3)

An appraisal or appraisals reflecting the value of the structure both before and after rehabilitation;

(4)

An appraisal or appraisals reflecting the value of the accompanying tract or parcel of land both before and after rehabilitation of the structure; and

(5)

Photographic documentation of the structure both before and after rehabilitation.

Section 8. Separate business locations.

Where a business is operated at more than one location, only a location within the enterprise zone shall be eligible for the tax exemptions provided in this ordinance.

Section 9. Record of exemption to be maintained.

Any locations for which the tax exemptions provided in this ordinance have been granted shall maintain documentation relating to the grant of said exemptions at the address for which the exemptions were approved. Said documentation shall be exhibited to any authorized enforcement officer of Fulton County when so requested.

Section 10. Contractual agreement.

As a condition of receiving the tax exemptions provided for in this ordinance, a qualifying business or service enterprise shall consent to enter into a contractual agreement that outlines the tax exemptions offered to such business or service enterprise and that further provides guidelines for the recapture, revocation or reimbursement of taxes should the terms of the contractual agreement, this ordinance or the Georgia Enterprise Zone Employment Act of 1997 be violated by the business or service enterprise.