We recognize that COVID-19 has had a tremendous impact on our community. Council has been hard at work passing multiple measures to provide relief for our residents and businesses. These include a small business loan program, a property tax cut, a rebate program and a waiver of certain late penalties.
Through an Emergency Ordinance, Council established a $1 million small business emergency loan program and a 21% cut in Town property taxes. This marks the third property tax cut in the past 30 years. These measures are being offset by the removal of the sunset date for the Hospitality Tax. This allows us to give immediate relief for Town businesses and residents while allowing out of town residents to participate with us in funding the ever increasing infrastructure needs within our Town.
In addition to the small business loan program and property tax relief, this change in structure will continue to provide meaningful traffic improvements within the Town. All current traffic projects will now be fully funded, including significant improvements to North Lake Drive and the Corley Mill intersection, and ongoing funding will be available for future traffic projects and infrastructure needs as well.
Town Council also passed a dollar for dollar rebate program aimed at investing $250,000 in 30 days into our small businesses. The program gives in-town residents up to $25 off their utility bill when they send in receipts showing money spent at in-town businesses. Visit our website at lexsc.com for more information on how to participate.
Council also suspended the need for permits for temporary signs, water and sewer cut-offs and late penalties for water and sewer bills, hospitality taxes and business licenses through June 30, 2020.
The opening of The Market at lcehouse gave many a glimmer of hope during this pandemic. We thought this would be a great way to support vendors who have been impacted during these times and it would also provide a venue for the community to come together, while remaining safely apart. The Market will be open each Saturday from 9 a.m. until Noon through September with the exception of July 4 and we hope to see you there.
We are proud of our people and we are also thankful for our staff who has worked hard to keep things running smoothly without any major interruption in services. These are great examples of why Lexington is such a great community to be a part of and why l’m proud to call Lexington home.