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Committee approves up to $1M sales‑tax reimbursement to help CI Select move into Carriage Works in Cortex
Summary
Board Bill 120 passed out of committee with a due‑pass recommendation to allow diversion of half the city's sales tax generated by CI Select into a comptroller‑controlled reimbursement account that will pay buildout costs up to $1,000,000; SLDC counsel said reimbursements are administratively reviewed with a 30‑day window.
The Housing, Urban Development and Zoning Committee advanced Board Bill 120, a sales‑tax reimbursement incentive designed to help CI Select relocate into the historic Carriage Works building in the Cortex district and pay for buildout costs up to a $1,000,000 cap.
Sponsor Autumn Browning said the mechanism diverts half of the city’s sales tax generated by the project into a reimbursement account controlled by the comptroller; Browning said earnings and property taxes are not affected. ‘‘This incentive is really to help the company move into an old historic but abandoned…
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