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Guidelines, single family homes are eligible for tax abatements of 100% for 5 years; duplexes are <br />eligible for abatements of 100% for 3 years; and multifamily units are eligible for de-escalating <br />abatements of 3 years at 100%/75%/50%. <br />The Council must conduct a public hearing prior to adoption of the resolution. <br />BUDGET: N/A <br />OPTIONS: 1. Approve the attached resolution. <br />2. Direct staff to make changes to the existing guidelines and criteria and bring <br />back to council at a future meeting. <br />RECOMMENDATION: Conduct a public hearing and approve the resolution readopting criteria <br />and guidelines for residential tax abatements. <br />