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Planning committee advances 15‑year, 100% CRA abatement for Raymond James; councilors press for job and revenue details
Summary
The Planning, Annexation and Codes committee voted to call legislation out of committee to grant Raymond James Company a 100% tax abatement on improved value for 15 years for two downtown parcels, and to remove the parcels from the city’s TIF district. Councilors asked for more detail on projected jobs, abatement value and school revenue impacts.
The Planning, Annexation and Codes committee on Oct. 6 moved to call legislation to the full Baberton City Council that would grant Raymond James Company a 100% Community Reinvestment Area (CRA) tax abatement for 15 years on improved value for parcels 01.12849 and 01.03928, to support a downtown expansion and job creation.
Director Carr presented the request and told the committee that, without passage of the 100% abatement, the company could receive a 75% tax rebate but “he cannot start work until this is passed,” according to meeting remarks. Committee…
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