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Council delays decision after developer asks to start tax incentive early and extend term
Summary
The City of Perry council debated a developer request to begin property-tax incentives before a planned 344-unit completion and to extend the incentive from 10 to 15 years; councilors said the change would weaken leverage to finish phase 2 and voted to table the item until the developer can appear.
At its April 14 meeting, the City of Perry City Council discussed a request from the operator of a multi‑phase apartment project to begin the project's property‑tax incentive immediately rather than after completion of 344 units and to extend the incentive term to 15 years.
Council members and staff reviewed the incentive's history (original action in 2016, an amendment in 2017) and the current status of construction. Staff said the developer has completed roughly 120–160 units so far and asked the council to allow partial payouts earlier to help secure financing for a second phase.…
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