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Council reviews developerrequest for 15-year CRA tax abatement; staff says school-district sign-off required
Summary
City staff told the Clayton City Council that a developeris seeking a 15-year, 100% real-estate tax abatement on improvements under a Community Redevelopment Area (CRA) and that the school district would have to approve such an abatement; council asked staff to return with more information at a future meeting.
At a meeting of the Clayton City Council, a staff presenter identified in the transcript as Jillian outlined a developerrequest for a Community Redevelopment Area (CRA) incentive: a proposed 15-year, 100% real-estate tax abatement on improvements.
Jillian said staff had "consulted our legal counsel" about terms that could be included in a development agreement and warned that "since the request is for a 15 year 100%, real estate tax abatement on improvements, school district approval is needed." She…
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