Replies to post #88383 on JP 3E Holdings Inc (JPTE)

[lifeonthefarm]

wait till the city demands and forecloses on the property!
Park better come up with 440k fast

[I ll be back]

Government agencies are limited to what they can do.

I presume this entitles property owners to some sort of tax exemption or other incentives for building in a depressed area.

The top three options that cities can use would be:
1) Reduced or no property taxes for up to 10-years. (Not seeing it here)
2) Reduced or no city fees to build. Credits against the SDCs (System and Development Credit's)
3) State or Federal housing credits for "low-income" housing against the investors tax bill.

The benefit in redeveloping existing structures has to do with credits against traffic counts, and water/sewer fees for the most part. However, paying for $4M for a 120-units ($33K per/unit/Land) is going to be a very high bar when you also add in demo and site costs. To say nothing of the holding costs on $4M for two years.