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Council debates demolition‑rebuild incentives; staff to model alternatives and return in October
Summary
Councilmembers discussed simplifying the demo‑rebuild incentive program, weighing a $10,000 upfront grant plus a short abatement against proposals to remove the cash grant and offer a multi‑year tax abatement; staff will model costs and return with a proposal for council action in October.
Darren Harris, deputy director of economic development, updated the council on the demolition‑rebuild incentive program and relayed developer feedback gathered during outreach. The current program includes a mix of upfront cash grants and tax rebate schedules tied to improvement cost brackets; staff presented three principal approaches: retain the $10,000 grant with a short (three‑year) tax rebate, or eliminate the cash grant and offer a longer tax abatement of four to seven years.
Developers told staff the upfront $10,000 cash grant often does not materially offset demolition costs and, in many cases, is rolled into construction financing; several builders…
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