The qualified property is to be located entirely within the boundaries of the terminated zone, as they existed at the time of termination, and not inside any currently designated enterprise zone;
Neither the eligible business firm nor all of its qualified property has been disqualified in the terminated zone consistent with section (2) of this rule;
Construction, modification or installation of the qualified property commences on or before June 30 immediately following the last year of the firm’s final outstanding exemption in the zone (that is, by the end of the corresponding tax year);
The eligible business firm’s Application receives approval from the county assessor and the local manager of the terminated zone or , lacking a local zone manager, from the county assessor and either through the Department or by formal action of the zone sponsor, or on appeal;
An authorized or qualified business firm may not make Application as described in this rule, if since termination, another business or corporation has bought or absorbed the firm, except if the firm remains essentially intact as a corporate entity, such as becoming a subsidiary to the purchasing corporation and continuing to operate substantially as it had prior to its being acquired.
If the eligible business firm is not qualified but only actively authorized at the time of the zone’s termination according subsection (1)(a) of this rule, then no subsequent Application may be approved in accordance with this rule, until an exemption is successfully claimed on qualified property pursuant to an outstanding authorization as described in OAR 123-674-8100 (Authorization and Zone Termination)(2).