Fri. Sep 29th, 2023
The Camdenton Board of Aldermen, Tuesday night, cleared the way for a 138-unit apartment complex to be put up but the approval did not come without some opposition.
Sandy Gentry, Jaron (juh-roan) Humiston, Mark Anderson and Eric Faes voted to approve the ordinance while Dan Ousley and Brenda Weir voted against the agreement.
One of the main entities to be affected, the Camdenton R3 School District, was on hand for the meeting with Superintendent Doctor Sean Kirksey calling the agreement kid-friendly.
“A lot of the developments we’re seeing are wanting 20 years of a hundred percent tax abatement, and this one is only ten, and it’s only at 50% tax abatement, and it’ll probably end up being less than or be will end up getting more than 50% over the time if it’s finished off in the in the manner that the developer wants to.”
The ordinance calls for a 50-percent tax abatement over 10 years for the developer of the future Poplar Place Apartments.
By contrast, most similar agreements call for 100-percent abatements over 20 years.