Villas on the Hill

Discuss renovations and new residential construction in South City -- defined by the area south of Interstate 44/55.
https://www.riverfronttimes.com/newsblo ... llmer-bill

Wow! In the past I haven't been as critical of tax abatements as some others have been, but this one really hit a nerve. If these abatements go through, I'm done voting for any tax increase of any sort in the City for the next 5 years until this abatement ends. This is beyond absurd!
My Alderman sucks.
Completely agree. You can not make a reasonable argument that this development wouldn't be feasible if not for the abatement or that the property would remain vacant without it. Neither are true for this area on The Hill.

This wreaks of an alderman handout to a big timer in the neighborhood.
The really perverse element of this is how it incentivizes the immediate demolition of any existing structures. Tear any buildings down quick so that the property is assessed at the rate of an unimproved vacant lot before starting any planned construction (or even having proper plans/financing). How the hell did they let that happen?
I don't disagree with the outrage, however the city also benefits by increased earnings tax revenue that this type of housing attracts.
^Not necessarily. This is a blatant handout, however, and absolutely should not be passed.
southcitygent wrote:
Sat Dec 02, 2017 9:22 am
I don't disagree with the outrage, however the city also benefits by increased earnings tax revenue that this type of housing attracts.
Only if the new residents are relocating from outside the city.
^And only if the residents have earned income.