From the Northwest Indiana Times:
The City Council granted a one-year extension for a residential tax abatement request, but discussed ending the tax relief program in the near future.
Developer Carole Gilbert told the City Council she sold two lots out of nine before the economy took a turn for the worse.
Gilbert said she began developing the nine-lot subdivision called Gilbert's Cove in 2005, partnering with two men.
Gilbert said she hasn't sold any more lots in the development, off Sixth and Indiana streets, despite lowering the price of the lots and hiring a real estate broker to provide extensive marketing.
"We need the tax abatement to be competitive. I'd like a two-year extension," Gilbert said.
Competition includes the Liberty Heights subdivision, which has a tax abatement in place.
Gilbert's abatement was set to expire in early August.
City Councilman David Vinzant, D-4th, said there are several residential tax-abated properties throughout the city.
"At some point we need to sunset the program so they all end at the same time," Vinzant said.
City Councilman Pete Mendez, D-2nd, said he remains opposed to any residential tax abatement.
"I feel everyone should pay their fair share," Mendez said.
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http://www.nwitimes.com/news/local/lake/hobart/hobart-officials-agree-to-extend-tax-break-for-subdivision-developer/article_d2660d4c-e611-5de9-a45c-eba2a3f63d82.html
