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Dangling Tax Incentives For Redevelopment Does Have Plenty Of Upside

We hope state legislators approve a tax incentive for redevelopment of vacant or condemned properties in Jamestown.

Vince DeJoy recently discussed the program with Jamestown City Council Housing Committee members. It would include single or two-family residential properties that are vacant, legally condemned and have outstanding state and local code violations where the cost of remedying the violations exceeds the property value. Also, the program will include the construction of a new single or two-family residence of at least 1,200 square feet on a parcel where a previous house has been demolished.

The city obviously needs a way to create interest in fixing run-down houses in Jamestown. There is no interest in putting money into these sort of houses now — and city neighborhoods are poorer for that lack of interest. But, as we have learned with industrial development, this incentive will work only if the right type of investors come along. With that in mind, we hope there is a mechanism whereby preference can be given to owner-occupied houses or landlords who will ensure the house — renovated with help from city taxpayers — won’t quickly fall into disrepair once the tax incentives end. Perhaps there should be a clause, too, that developers or property owners using the tax incentive have to make sure the rest of their properties are up to code.

Used correctly, this incentive can have immense benefits for Jamestown’s neighborhoods. If the proper safeguards are attached, we hope state Assemblyman Andrew Goodell and state Sen. Catharine Young are successful carrying it through the state Legislature.

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