Council approves DTO Historic Redevelopment Incentive Program with $5M minimum investment requirement
City and CRA staff described a 10-year ad valorem tax rebate program for downtown historic properties (50% rebate for contributing structures; 75% for landmark buildings) with a $5,000,000 minimum investment; the council approved the measure over Commissioner Sheehan's objection.
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CRA staff presented the DTO Historic Redevelopment Incentive Program and explained how the rebate would work for eligible properties in Orlando's Downtown Historic District. The program would rebate a share of the additional ad valorem tax revenue generated by qualifying private investments for a 10‑year period: 50% for contributing structures and 75% for landmark buildings. CRA staff said the program sets a $5,000,000 minimum investment threshold.
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