Council approves amendment to suspend tax abatement effective Dec. 31, 2026 after debate on timing

The council considered Item 49, a proposed amendment to the fourth restated citywide urban revitalization plan that would suspend tax abatement effective Dec. 31, 2026 while preserving eligibility for qualifying projects that have added measurable value by that date. Several council members said Dec. 31 could be too abrupt for projects already in design and proposed extending the date to late spring or the end of the fiscal year; staff and legal advisors said a Jan. 1 effective date aligns with assessor valuations and makes administration simpler.