04-0434R

RESOLUTION APPROVING THE CITY OF DULUTH TAX ABATEMENT FINANCING POLICY FOR HOUSING DEVELOPMENTS.

BY COUNCILOR GILBERT:

RESOLVED, that the Duluth City Council hereby adopts the city of Duluth tax abatement financing policy for housing developments on file in the office of the city clerk as Public Document No. __________.


STATEMENT OF PURPOSE: This resolution approves the adoption of a "city of Duluth tax abatement financing policy" for housing developments. The Duluth housing commission has been working on a tax abatement policy for sometime. At their most recent meeting on May 13, 2004, the housing commission unanimously recommended that the council adopt the policy attached to this resolution. Although the proposed "city of duluth tax abatement policy" is very similar to the "St. Louis County tax abatement policy" as it relates to housing developments, there are some differences. Should the council approve this resolution, the duluth housing commission and city administration plan to approach the county about revising their policy to more closely align with the city's policy.