From the Richmond Palladium-Item:
The Richmond Common Council may consider a 10-year tax abatement on real estate for Perpetual Recycling Solutions when it meets Monday night.
Council members have been waiting to vote on the proposed abatement since mid-November, but it was unclear this week if that vote would come Monday.
Perpetual Recycling is the newest industrial development to come to the city’s northwest side, announcing plans to locate a plant here in 2010.
Officials there asked for a 10-year abatement on real estate for the plant at 1561 N.W. 11th St., then changed their request when they learned the city was adopting a new tax abatement ordinance that would allow council to grant larger abatements for bigger investments and bigger job creation.
Earlier this year, the council’s tax abatement committee studied the abatement request — 85 percent for 10 years on a $4.6 million investment that promises the creation of 60 jobs — but gave it a neutral recommendation, asking that council conduct a broader discussion of how the new abatement guidelines were to be used.
The Perpetual Recycling abatement request has been held since October.
Tax abatement committee chairman Bruce Wissel is still waiting for the debate on the new abatement guidelines.
“I would really like to hear a wider discussion of how we are going to apply this abatement,” Wissel said. “That’s what I was pushing for, when to use this abatement and how.”
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http://www.pal-item.com/apps/pbcs.dll/article?AID=2012312150030&nclick_check=1
