In a further effort to encourage some private development of affordable housing downtown, the city is trying to pass a resolution to define a two-block 'neighborhood enterprise zone'. If passed, this small area would receive additional tax benefits. Within this proposed zone, we recently heard about a
proposed 6-story, mixed-use affordable housing development at
116 W. Cedar St. I'm guessing there's some conversation happening behind closed doors in an effort to make that a reality.
Quote:
Tax breaks could add affordable housing near downtown Kalamazoo
Malachi Barrett | MLive
May 8, 2018
KALAMAZOO, MI -- Officials are considering whether tax incentives are necessary to encourage more affordable housing in Kalamazoo City Hall's backyard. Monday, a public hearing was held to discuss a "neighborhood enterprise zone" in a two-block area south of downtown. If approved by the City Commission, developments would be eligible to have their taxes halved for nine years and reduced by 10 percent, 5 percent and 2.5 percent for another three years...
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