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SM 06-12-80
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South Bed Redevelopment Commission <br />Special eeting - June 12, 1980 <br />6. NEW 3USINESS <br />b. Mr. Szarwark continues... <br />ee that within their neighborhood <br />re building, standing, and keeping <br />p thier property, the firm will <br />ikely say that this is a good place <br />o go in. The property values would <br />e low because they have been tradition - <br />lly run down, the people are keeping <br />hem up and they are probably going <br />o do a continuing investigation in <br />here, so lets buy some real estate <br />hile it is low; let us build here <br />ather than someplace else where <br />verything looks just great, but <br />eal estate prices are higher. So, <br />ou create an incentive, you create <br />n atmosphere where corporations are <br />illing to take the gamble on the <br />est. On the other hand, if you <br />ust say that people are keeping up <br />heir property in a blighted neighbor - <br />ood.that is fine, but no tax abatement <br />o expand or improve, you are going to <br />nd up with a certain type of stagnation. <br />don't think that this Commission wants <br />o see these areas. <br />r. Ellison: The problem I see is that <br />he businesses incentive-is not tax abate - <br />ent. It is probably some other form <br />f public assistance. The fundamental <br />urpose of tax abatement is to cause <br />he cessation of elimination of deterio- <br />ating conditions which when added together <br />ommonly are called "blighted ". Theoretical - <br />y, a redevelopment treatement which would <br />resumably have to address those kinds of <br />onditions. The proposed project or <br />edevelopment treatment will not directly <br />ffect those conditions. Certainly, it <br />ould add to the area but it is not <br />mproving unimproved real estate, eliminat- <br />ng substandard buildings that exist on <br />he site correcting land use, or any <br />f the traditional things that the <br />ommission has to consider in considering <br />edevelopment plans of its own. The <br />uestion is not whether business incentive <br />s necessary. Rather, the question <br />efore the Commission is whether the <br />rea (the abatement area) from a condition <br />15 <br />
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