14 - Residential Tax Abatement Guidelines and Criteria

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Item No. 14 r TO: City Council John Godwin, City Manager FROM: Stephanie H. Harris, City Attorney SUBJECT: Re -adoption of guidelines and criteria for residential tax abatement program building property DATE: April 16, 2019 BACKGROUND: On October 14, 2013, the City Council passed Ordinance No. 2013-036 creating Reinvestment Zone No. 2013-1 for residential tax abatements. This reinvestment zone included all areas inside Council districts 1-5. At the same time, Council adopted Resolution No. 2013-23, which adopted guidelines and criteria for such residential tax abatements. On February 9, 2015, Council passed Ordinance No. 2015-002 amending Reinvestment Zone 2013-1 to expand it to include all Council districts in the city and designated the new reinvestment zone as 2015-1. On January 9, 2017, Council approved Resolution No. 2017-001 readopting the guidelines and criteria for residential tax abatements. STATUS OF ISSUE: To be eligible to participate in a residential tax abatement program, the city must adopt guidelines and criterial every two years. The current guidelines and criteria expired in January of 2019. BUDGET: N/A RECOMMENDATION: Approve the resolution readopting criteria and guidelines for residential tax abatements.