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Council holds public hearing on Yellow Tree 155‑unit abatement, tables decision pending updated pro forma
Summary
City staff and the developer presented a request for a 75% tax abatement over 15 years for a proposed 155‑unit Yellow Tree apartment project; local business groups urged approval, while residents urged clearer tax‑incentive policy. Council voted to table action so staff can obtain a developer pro forma and updated numbers.
At a public hearing Nov. 4, City Administrator Josh summarized a developer request for a tax abatement for a proposed Yellow Tree apartment complex east of Raven Stream Elementary, and recommended the council hold the hearing but not decide tonight until staff receives updated financial details.
Josh told the council the developer is requesting a "75% tax abatement over 15 years" capped at roughly $2,072,894 and said county valuations used in the staff packet did not include potential high‑end amenities. He recommended tabling a resolution so staff could collect a current pro forma and more precise project numbers before the council takes action.
The Yellow Tree…
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