10-26-09 Community and Economic Committee

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Bill No. 09-70 - 5 Year Residential Tax Abatement for 1015 N. Frances Chairperson Rouse opened the hearing by calling upon Bob Mathia to report on the petitions eligibility. In brief, he described the project as asingle-family home valued at $615,000 to be built having met all eligibility requirements. Home builder Dale Devon elaborated on the construction noting amenities and timetable. Councilmember Puzzello and Catherine Andres made appropriate motions which were supported by all to send to Council favorably. Chairperson Rouse had pointed out prior to the vote that the house was not in a TIF area and would pay over $33,000 in taxes over the 5 year abatement with only just over $2200 being abated. Update Neighborhood Stabilization Program In response to Council requests, Pam Meyer, Director of Community Development provided two handouts for the Council (Attached.) The first was a "broad view" of federal funding for years 2007 through 2009. Explaining the charts and maps therein she noted the data presented was in geographic form identifying the activity funded, the dollar amount and the sub-grantee agencies providing the services. The other handout detailed timelines, activities, and dollars dedicated to various components of the Neighborhood Stabilization Program in 2009. For these programs over 4 million dollars was made available by the federal government through the Housing and Economic Recovery Act to address abandoned and foreclosed properties. Various questions were asked by the Council of Pam Meyer. Most focused on where and when dollars would be spent. Ms. Meyer said the focus was on greatest need based upon data collected locally including information on vacancy, subprime loans, and foreclosures. The amendment Ms. Meyer offered to the appropriations passed by the Council in May did not affect total dollars available only the amount for each activity... After thanking Mrs. Meyer for the information, and there being no further business to come before the Committee, Chairperson Rouse adjourned the meeting at 6:20 p.m. Respectfully Submitted, Timothy A. Rom, airperson Community a conomic Development Committee