Rebuilding Place in the Urban Space

"A community’s physical form, rather than its land uses, is its most intrinsic and enduring characteristic." [Katz, EPA] This blog focuses on place and placemaking and all that makes it work--historic preservation, urban design, transportation, asset-based community development, arts & cultural development, commercial district revitalization, tourism & destination development, and quality of life advocacy--along with doses of civic engagement and good governance watchdogging.

Wednesday, October 19, 2011

DC increases the submission requirements for tax abatement requests

The "wild wild west" nature of land development and tax abatements gets a little less wild as the City Office of Tax and Revenue implements new information requirements on tax abatement requests. Before people could just get a Councilmember to submit legislation, which would trigger the process.

It might still be a very murky process, but this makes it easier to judge and prioritize requests.
From the second article:

With the start of fiscal 2012 on Oct. 1, applications for abatements and tax exemptions must be accompanied by their terms, value, a financial analysis and a summary of the proposed community benefits. That includes the number of affordable housing units to be developed, number of jobs that will be created.

In addition, the D.C. chief financial officer must offer an advisory opinion on whether or not a development project likely could be financed without the District’s financial aid. And the developer must document its efforts.

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