Oh my goodness. Tonight was all about being heard.
And, so, an epic night with only 5 Councilmembers. Cheers to Councilmembers, Walker, Ladenberg, Manthou, Fey, and Strickland, for holding down the fort. Where was everybody else? It seemed awfully lonely up there.
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Finally, what everyone has been waiting for, the purchase resolution including the Broadway LID. It was unanimously approved.
Thank God.
This city might have a change to move forward after all.
With 4 of the council members gone, some of us were wondering how many votes were needed to pass the LID 5? 3? A question rendered moot fortunately.
I heard a rumor that there was going to be some updates to the multifamily tax exemption program. This was supposed to increase compliance w/ state law, but would also alter who was eligible.
I assume it passed, but will it impact any of our favorite or not so favorite projects?
3 | Posted by DavidS | May 1, 02:28 PM
DavidS,
Ack! You caught me! Apparently after sitting through 3 hours of council, my mind wandered as the single ordinance was passed. Yes, the ordinance allowing the update was passed.
The main changes alter the law to an 8 or 12 year abatement, instead of the standard 10. How you qualify for the years is a little different too.
I don’t anticipate any major impacts on projects, especially since these changes will only impact future one’s, not those that already have applied for their abatements.
Sorry for the oversight,
Whitney
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