I received an email from Kevin Tubbesing. Apparently, what his project is eligible for is a rebate not an abatement, and as such there is no cost to the taxpayers. Shame on me for quoting a reporter from the Sun.
The content of the email is as follows and should clarify the situation:
"Ray
I do appreciate your attention to the project I am bringing to downtown, but I would ask that you reconsider what appears to me to be a negative tone toward the incentive. As you will see in the attached public documents, this property falls within a downtown revitalization district and is therefore subject to a rebate - not abatement - of taxes generated from improvements to the property. In other words there is no cost to the taxpayer as without the improvement the property value the corresponding taxes would remain unchanged.
Thank you for considering."
The documents he refers to can be viewed at:
Here
and
Here
Sidebar: I sure hope that the Sun makes the change from abatement to rebate also. Especially since they have a substantially larger number of readers.
