Re: JC Council to Vote on Canceling Two Abatement Deals for Non Compliance

Posted by JCGuys on 2019/1/10 18:46:24
Quote:

jc_dweller wrote:
Quote:

JCGuys wrote:
Quote:
At this point, the City has granted ZERO market rate tax abatements (anywhere in the city) for nearly two years! So our plan is working and we should all be proud.


Is this a true statement? If one unit is 'affordable' in a 500 unit building, does the building cease to be "market rate" and thus eligible for an abatement?


I believe that units are granted abatement, not buildings. So if there was a 500 unit building with 1 affordable unit, he's saying that 499 units were not abated. The other one may have been.


This makes sense for condo units, but I wasn't aware that rental properties could have some units abated and others not.

A 500-unit rental building would show up as a single-parcel on the tax roll. A 500-unit condo would show up as 501 parcels (the units plus the condo association common area).

This Post was from: http://jclist.com/modules/newbb/viewtopic.php?post_id=435482