Fri. Dec 1st, 2023
The issue of, at least, partial tax abatements being offered to future developers who bring more housing to the city is a significant topic of discussion during this week’s board of aldermen meeting in Camdenton.
Administrator Jeff Hooker says there is some concern about offering abatements but, without the city collecting personal property tax, it’s a useful tool to try attracting those developments.
“If Camdenton is not going to offer any type of incentive to a builder to come in and to build something within the city limits, I have to have those tools as well. And if you just flat out say no, that kind of cuts me off at the knees just a little bit.”
Right now in the bulls-eye for more housing in Camdenton is a piece of property owned by the city near Cedar Street.
Hooker says the $20-million project would consist of four buildings and 138 units…
“And understand, 138 apartments means 138 people or 138 families. And those people would be living and doing their shopping and buying all their other stuff in the city of Camdenton, which generate sales tax, which is what we’re based off of.”
The issue is expected to come up again on a future agenda for aldermen in Camdenton to consider.