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Council approves seven-year tax abatement for Holiday Properties industrial project in Northpointe
Summary
The council approved Resolution 26-101 to grant Holiday Properties a seven-year, 10% step-down real property abatement for a speculative 143,000 sq ft industrial flex building at 0 Bastion Court, with staff and the developer discussing an aggressive construction timeline and conditions tied to completion.
City economic development staff presented a recommendation that the council approve a seven-year real property tax abatement (with a 10% step down each year) for Holiday Properties to construct a speculative 143,000 square-foot industrial flex building at 0 Bastion Court in the Northpointe area.
Claire Jelenas, economic development strategist, said the developer plans to invest $19,300,000 in real property improvements and estimated the…
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