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Resident asks about 15-year tax abatement; councilor explains CRA and TIF land-swap purpose
Summary
A Brook Park resident asked whether the city would grant a 15-year tax abatement on recently swapped land; a councilor explained the Community Redevelopment Act allows 15-year abatements for new improvements and that the city used a land swap to enable a TIF, separate from the CRA abatement.
During public comment on Dec. 2 resident Elizabeth Stairs asked whether a 15-year tax abatement would apply to city-owned property that was swapped and then developed, citing prior abatements granted to projects such as Harley-Davidson.
Stairs asked whether any developer building on that city-owned parcel would receive a 15-year tax break. "So if the city owns the property, does everybody that builds on that property get a 15 year tax break?" she asked.
Councilor…
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