Remarks by Dimple Ajmera
136 remarks on the record, newest first · Page 3 of 6
Okay, but if we were not to approve it, the service delivery will be impacted.
So I do worry about the impact, but I will like for the manager to make sure that those concerns that Reverend Boyd has brought up are being addressed while simultaneously us approving this contract so there are no service impacts. because we serve millions of customers, and we do get calls and emails when there are service impacts specifically to water and sewer. Well, that's all I have. Thank you.
No, I'm not. No, because there is a service impact as per the staff, so... That's all I have.
Move to approve agenda item number 31. Second.
Thank you. I wanted to follow up. So the model that you mentioned, Sarah, So that looks at certainly the property tax and what it will contribute. So are we looking at the long-term impact or are we just looking at a short-term? So if you can just give us more information on what that model looks like. When was the last time was it updated?
So it does look at a long-term range. And it includes water, sewer, stormwater, everything. Well, that's all I have. Thank you.
Thank you, Mayor Harrington. So for staff, if you could please come forward to the podium.
Thank you for your work on the historic district commission. We appreciate your efforts. So I understand why we want to preserve a vacant building. Well, we want to activate a vacant building here in uptown, but I do understand that historic tax designation does carry a significant tax benefit. What assurances do taxpayers have that the development actually moves forward as it's promised after the designation is granted?
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Okay, so I know that they have promised $200 million in improvement. So they do not get the historic tax credit if they don't proceed with that $200 million in improvement?
Got it. So they will only receive the tax credit for the historic designation if they were to proceed with the $200 million in improvements.
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Yes, so I think we need to have a broader discussion on what exactly our taxpayers are getting in return, especially around affordable housing, furthering our goals. We can certainly make the financing model work to activate this vacant building uptown, but in exchange, we need to see some benefits for our taxpayers. So I would like us to explore affordable housing. Maybe 20%, 30% could be affordable. since we have a shortage of affordable housing. But I do agree with Councilmember Johnson. I think this does require a little bit of further discussion and better understanding. We need to have…
So let me ask you this. When is the deadline to Councilmember Johnson's question for federal tax credit?
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Yes, I just wanted to see if he could address that question because I think it's a direct question. We just need to know what the deadline is for federal housing tax credit.
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I appreciate the innovation here that's taking place to make this model work. And I also reviewed it. I think even the tax base would increase as a result of this redevelopment, which is obviously going to increase our tax base. And the redevelopment, well, our tax credit is tied to the redevelopment dollars. So I get that. I get all that. But I think the frustration is the new model not being blessed by the committee and council is not fully on board. But that's all I have. Thank you.
So, thank you, Mayor Harrington. Is this the final action for this project that will come before the council?
Okay. So that means we would miss an opportunity to ask the developer if they could do affordable housing out of hundreds of affordable housing units, out of market rent that they're building. I was looking at how many housing units they're building? I'm just...
This is a former Wells Fargo headquarters building that is going to be redeveloped into 275 multifamily residential units in the top half of the building with the potential for 200 hotel rooms on the bottom half. I think the question I hear from the community is that there is so much luxury housing that's being built, and that's great because it increases our tax base, But we do need to ask a simple question about can they incorporate affordable housing for our teachers, our officers, and firefighters. That question comes up in almost every conversation I have with neighborhoods. So I just…
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Okay. If there are no questions, move to close the public hearing.