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Members of the Common Council <br />Page Two <br />December 8, 1981 <br />The City Council, in reviewing petitions for this tangible personal property <br />tax abatement, holds the same leverage as with the current abatement process; <br />namely, the discretion to declare specific parcels or properties to be Urban <br />Development Areas, thereby making them eligible for tax abatement. <br />I would also like to call your attention to paragraphs (f) and (g) of <br />Section 2 -77. These paragraphs have been added to restrict the availability <br />of tax abatements for new real property improvements to Hive years from the <br />date of its establishment for each parcel. Our present ordinance contains <br />no such "sunset" provisions and I suggest to the Council that such a re- <br />striction is most appropriate. Any recipient of tax abatement should be <br />forced to reappear before the Council and petition anew should he feel that <br />a longer period is required. <br />Please contact me should you have any questions. I remain <br />Ver truly yours <br />Patrick M. McMahon <br />PMMcM:amc <br />Attachment <br />