Baltimore City Council Approves Tax Break For New Apartments

Developers converting older office buildings into apartments or building new complexes could get a significant tax break under a measure the Baltimore City Council approved Monday.

The legislation is aimed at addressing a glut of vacancies in office buildings downtown, encouraging new or converted apartments in six other neighborhoods, and drawing new residents to the city.

The list of requirements to qualify for the tax break is short: The development must be in one of the seven areas, must be a project involving at least 50 apartment units, and must have an environmentally friendly certification.  Supporters said this tax break would be more “predictable” for developers, who typically have to lobby City Hall for individual incentives.

“It can open up the development market to outside developers,” said Kirby Fowler, president of the Downtown Partnership of Baltimore, which lobbied for the credit.  “Before, developers had to know the system in order to access some [tax] credits. It will create more predictability and transparency.”

Read more:  http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-ci-apartment-tax-incentive-20130408,0,332010.story

Pottstown Joint Meeting Wrestles With Jobs Versus Lost Tax Dollars

Location of Pottstown in Montgomery County (Photo credit: Wikipedia)

POTTSTOWN — During the first joint meeting of the year between borough council and the Pottstown School Board, discussion was free-flowing and frequent.

Perhaps highest on the list, and the subject which generated the most focused conversation, had to do with a business that wants to occupy the former 84 Lumber truss plant at the end of Keystone Boulevard.

Steve Bamford, the director of Pottstown Area Industrial Development Inc. and the borough’s chief economic development officer, gave for the third time, an overview of the Keystone Opportunity Zone program and the request from Heritage Coach Co. to occupy some of the space there.

Sellers of hearses and limousines, Heritage began as a side business for the Lankford family, which also operated a GM dealership in Conshohocken that was shut down during what Jay Lankford, a Hill School graduate, called GM’s “political sham of a bankruptcy.”

Read more:  http://www.pottsmerc.com/article/20130228/NEWS01/130229383/pottstown-joint-meeting-wrestles-with-jobs-vs-lost-tax-dollars#full_story