In the marathon Committee of the Whole meeting, councilmembers voted to:
Approve a 1% Development Impact tax on construction;
Delay the reduction of the 10-year residential tax abatement;
Reduce the tax abatement for commercial construction projects from 100% to 90%;
And support a $400 million bond package called the Neighborhood Preservation Initiative, which would fund programs to build affordable housing construction and offer repair grants for residents struggling to stay in their existing home. Other goals are explained here.
Tuesday s legislation is not final, but could be brought for a first reading Dec. 3 and passed by Dec. 10, a spokesperson for Council President Darrell Clarke said.