Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Abatements topic
No spam. Unsubscribe anytime.
Board reviews EZ2-era tax abatements and receipts, asks staff for further due diligence
Summary
Board members reviewed payments tied to older EZ2 tax abatement arrangements and asked staff to work with the state association and assessor to identify active abatements and better understand past and projected payments.
The board discussed lingering tax-abatement arrangements labeled in the meeting as “EZ2” and asked staff to do additional due diligence to identify who still has active abatements and what future payments might be.
During the discussion a board member summarized amounts mentioned during staff remarks: two recent payments referenced as “8.8” and “1.2” (spoken in the meeting and understood by participants as amounts), with a referenced total of $10,116. Staff also said that last year the same two companies returned $19,857. The board did not alter policy but requested staff to confirm exact figures with the state association and the county assessor’s office.
Staff described the item as largely an informational follow-up: the city will communicate with the state association and the assessor’s office to determine which abatements remain active, for how many years they continue, and whether historical receipts provide a reasonable projection for future revenues.
A board member said the goal was to “have a thorough understanding of that incentive” and asked staff to report back with clarified numbers and any eligibility details. No formal motion or change to abatement policy was taken at the meeting.
The board noted that some of these abatements stem from properties that were in a former zone; whether a company remains eligible can depend on whether an abatement was initiated while that zone was active.
