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Conway council approves longer tax reimbursement period for large commercial redevelopment
Summary
Council approved an amendment to the city's incentive program allowing property tax reimbursements to extend from five to 10 years for qualifying redevelopment of vacant commercial buildings of 25,000 square feet or larger and clarified transferability rules.
The Conway City Council on Jan. 21 unanimously approved final reading of an amendment to the city’s economic incentive program that applies to redevelopment of vacant commercial buildings of 25,000 square feet or greater.
Staff recommended increasing the maximum property‑tax reimbursement period from five years to 10 years…
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