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Kingsford planning commission advancing Neighborhood Enterprise Zone proposal to spur housing rehab
Summary
City staff said the Planning Commission is developing a Neighborhood Enterprise Zone (NEZ) tax-exemption proposal to encourage residential development and rehabilitation in designated neighborhoods; the program would reduce property tax on structures (not land) for 6–15 years and will require council approval to implement.
City Manager Michael Stelmaszek told council the Planning Commission is working on exemption and abatement programs to help housing development and eliminate blight, focusing on a Neighborhood Enterprise Zone (NEZ) exemption program.
Stelmaszek said the NEZ would provide a reduction in future property taxes on the building structure (but not the land) for a period of 6 to 15 years; the Planning Commission will present a legal description and adoption process at an upcoming meeting, and council approval will be required to implement the zone.
Council members did not take action on the NEZ at this meeting; the item remains before the Planning Commission and will return to council after the legal description and adoption steps are complete.
