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i <br /> Human Resources/Econ Development <br /> March 9 , 1987 <br /> Page 2 <br /> The Council Attorney then reviewed Resolution 87-22 which would <br /> reconfirm various tax abatements previously granted by the Common <br /> Council. <br /> Mrs. Farrand noted that seventeen ( 17) real property tax <br /> abatements and three (3) personal property tax abatements would <br /> be involved. She indicated that discussions had taken place with <br /> the County Auditor 's office and , in light of the concern with <br /> regard to "the period of deductions" for the older tax <br /> abatements , a reconfirming resolution would be needed . She <br /> indicated that under the former state law, personal property tax <br /> abatements were permitted up to five (5) years and real property <br /> tax abatements were permitted up to ten (10) years. She noted <br /> that the purpose of the resolution was to spefically set forth <br /> the periods of deductions for each of the property tax abatements <br /> listed within the resolution. <br /> Following discussion by the Committee, Councilman Beck made a <br /> motion , seconded by Councilman Serge , that Resolution 87-22 be <br /> recommended favorably to Council . The motion passed unanimously. <br /> There being no further business to come before the Committee, the <br /> meeting was adjourned at 5 :40 p .m. <br /> Respectfully submitted, <br /> Councilman Eugenia Braboy , Chairman <br /> 2 <br />