ANCHORAGE, Alaska (AP) – Anchorage officials have proposed giving a 12-year property tax break to developers that build housing in the city’s downtown.
The Anchorage Daily News reports Mayor Ethan Berkowitz’s administration unveiled the proposed ordinance earlier this month, offering the tax break for new developments or redevelopments that add at least four units of housing.
Chris Schutte, the city’s community and economic development director, says the city aims for the measure to boost apartment and mixed-use projects that could inject fresh energy into the central business district.
He says downtown has few housing options, and current projects in the works would add fewer than 100 new units.
Developers say the costs of land and construction in downtown make housing too expensive to build.
The assembly is scheduled to debate the measure next month.
Information from: Anchorage Daily News, http://www.adn.com