 Yesterday I outlined a proposal to get more property owners actively involved in rebuilding our neighborhoods, many of which have been left with large numbers of vacant and abandoned homes or properties where homes have been torn down.
The goal is to improve the stability of our neighborhoods. If we can incentivize people of all income levels and demographics to rehab abandoned and vacant houses or build new on properties where homes have been demolished, we will build a base for generating businesses to provide the goods and services residents need.
Using either credits against local option income taxes and/or state income taxes as incentives is the intent. Individuals could be the major benefactor.
Possible avenues for funding this effort could include local income taxes, local grant programs, or income tax credits similar to tax abatement in an economic revitalization zone.
