Oregon Oregon Business Development Department

Rule Rule 123-674-0700
Written Agreement between Sponsor and Eligible Business Firm

For purposes of the written agreement that is required between the sponsor of an enterprise zone and an eligible business firm under ORS 285C.160 (Agreement between firm and sponsor for additional period of exemption):


To receive an additional one or two years of exemption, the written agreement must be finalized no later than completion of the Approval Form.


Both the Firm/applicant seeking an extended abatement and the sponsor of the zone (see OAR 123-668-2450 (Approving Agreements)) must formally authorize the written agreement.


The written agreement shall specify whether:


The total period of abatement is four or five consecutive years; and


The Firm/applicant needs to fulfill additional requirements, as well as what they are exactly, in accordance with OAR 123-668.


Adherence to or satisfaction of such additional requirements shall in no way condition the first three years of an eligible business firm’s enterprise zone exemption under ORS 285C.175 (Enterprise zone exemption)(2)(a).


Notwithstanding section (1) of this rule, if the zone sponsor rejected a Firm/applicant’s request for an extended tax abatement, and the Application was subsequently approved, but commencement of construction, modification or installation of qualified property has not yet occurred, then the sponsor may reverse its decision and enter into a written agreement based on a resubmitted Application

Last accessed
Jun. 8, 2021