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Tax Abatement For Condemned Properties Should Spur Development

We hope there is quick use of a new city program that aims to redevelop homes that have been condemned or for those building homes on lots that once held condemned properties.

The city has created a property tax abatement, starting at fully exempt and phasing taxes in over 11 years, for these properties. Those interested in the program can visit the city’s website and find three forms, one with information about the program, one for the official application and one for supplemental information requested by the city.

City officials want to know how much renovation the property owner plans so city officials can help with CDBG or HOME program funds or direct people to lenders that specialize in these type of projects. Eventually, Vince Dejoy, city development director, wants to create some sort of fund that can provide working capital for those using the abatement program and to expand the program to save properties before they are condemned.

Those are worthy goals for the future. For now, success would be having more condemned properties saved than are demolished each year while creating at least a trickle of owner-occupied properties.

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