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 some time. 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.
Additional criteria was revised to clarify the requirements for rental and homeowner projects. The major difference with this new policy is the geographic targeting of rental projects to neighborhoods with more than 60% homeownership.