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Panel discusses capping abatement and using a sliding scale, with school funding prioritized
Summary
Committee members proposed limiting tax-abatement percentages, preserving education funding from abatement and using a graduated sliding scale (citing examples from Charlotte and Chattanooga) rather than identical maximum abatements for all projects.
Members discussed setting caps and a graduated structure for tax abatements tied to pilot agreements, with an explicit carve-out to preserve school funding.
"Make sure that they pay the education amount. Pull it out," one member said while describing the Charlotte/Chattanooga approach; Trustee Regina Newman and others suggested a sliding scale so abatements decline over time rather than staying at maximum levels for every year of a pilot.
The committee discussed design considerations: higher initial abatements that taper down, different treatment of retention pilots versus attraction pilots, and differential scales tied to project attributes. Members said the ordinance should include guidance on maximum percentages and a mechanism that ensures education funds are not abated.
Staff and members agreed to gather example language and send it to Janice Banks to incorporate into the draft recommendations.
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