10-11-10 Council Agenda & Packet

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See. 2 -76.4. Add -an abatement. An Add -on Abatement ( "Add-on Abatement ") is available only for real property other than single - family residential construction and may be from one (1) to seven (7) years of abatement in addition to the Base Abatement. Hence, an applicant for real property tax abatement who is granted both a Base Abatement and an Add -on Abatement may receive in total from four (4) to ten (10) years of abatement. The Council may, in its discretion and in light of its evaluation of the public benefits produced by the applicant's proposed project, grant an Add -on Abatement to any applicant for real property tax abatement who qualifies for a Base Abatement under the provisions of section 2 -76.3 and whose proposed project is not single - family residential construction. The Community and Economic Development Department shall provide a summary of each applicant's public benefit point calculations which have been awarded as part of their written report which is further addressed in section 2 -84.4 of this article. As a guide to its deliberations regarding an Add -on Abatement, the Council may consider, among other things: (i) the number of Public Benefit Points ("Public Benefit Points) awarded for the applicant's including in the Memorandum of Agreement commitments to execute one (1) or more of the Public Benefit Actions ( "Public Benefit Actions ") described in subsection (1) below; and (ii) the total number of Public Benefit Points awarded in relation to the threshold numbers of Public Benefit Points required to earn consideration for additional years of abatement set forth in subsection (2) below. (1) Public benefit actions and public benefit paints. The public benefit actions for which public benefit points may be awarded are as set forth below. The number of public benefit points that may be awarded is set forth in square brackets following the description of each public benefit action. a. Project related actions. The applicant will: 1. Redevelop a site that has special needs by one of the following actions jf i4y nine (49) twenty -five (25) public benefit points): 0) Convert an eligible building to residential. Convert to residential use a commercial building that has been designated an eligible building ( "eligible building ") by the Community and Economic Development Department. The Council intends generally that an eligible building shall be a building identified as an important element in achieving the goals and objectives of a formally adopted plan (such as a neighborhood revitalization plan) or a building of such magnitude (as determined by its context) that it is considered critical to the success of efforts to enhance, improve, revitalize or preserve the surrounding area. (ii) Rehabilitate an historic building. Rehabilitate and reuse a building that is on the National Register of Historic Places, a locally designated 10