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PL -INFO -0007 (rev 08/24) <br />i <br />Minimum Investment To be eligible for residential tax abatement, an Applicant must construct a new <br />structure or structures on the property parcel(s) identified in an Agreement between the applicant and <br />the City. <br />Limitations: <br />1. Maximum of 10 dwellin units er a reement. <br />2. All oroiects must be at 80% comletion rior to consideration of a new infill housin a reement. <br />3. Pre -roved buildin lans_ma be accepted... <br />4. No zonin than a unless there is a substantial than a in nei hborhood or com M atible with the future <br />land use maw <br />IV. Incentives <br />Incentive Table <br />Incentives <br />ingle-Family <br />DuplexMulti-Family <br />w............. <br />Low -Cost <br />Residential Lots <br />Tax Abatement <br />°"5 -year at 100% <br />`""3 -year at 100% <br />3 -Year Decreasing <br />Year 1: 100% <br />ear 2: 75% <br />Year 3: 50% <br />Reduced Building <br />100% <br />V100% for sprinkled <br />X <br />Plan Review <br />building <br />_011- <br />50% non -sprinkled <br />building <br />Reduced Permit <br />"x"100% <br />V100% for sprinkled <br />25% <br />Fees <br />building <br />OR- <br />0% non -sprinkled <br />building <br />Reduced rates on <br />" 25°/ <br />"'25% <br />`25% <br />Water/Sewer tap <br />fees <br />Page 3 of 6 <br />Ny///m i i i/,, rr/ 00919101/1 <br />,�, >, , <br />