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Council renews citywide residential tax-abatement plan for three years
Summary
Council voted to extend the citywide urban revitalization plan—first adopted in 1993—another three years. Staff said about 140 new dwellings have used the program and planning and zoning recommended the extension.
City staff presented and the council approved a resolution to extend the citywide urban revitalization plan that provides three years of 100% tax abatement on qualifying new residential construction. "The plan was adopted in 1993…what it does is on in the lots, it allows for 3 years of 100% tax abatement on new construction," the presenter told the council and noted the planning and zoning commission recommended another three-year extension after reviewing recent activity.
The presenter said roughly 140 new dwellings have taken advantage of the program and that one additional project was approved at the prior meeting, bringing the total to about 141. Council opened and closed the required public hearing, moved to adopt the resolution and approved it by voice vote; staff said no immediate change in eligibility was proposed beyond the renewal period and further changes would be considered in future reviews.
