Despite the expressed misgivings of several members, the Baldwin City school board agreed Monday to join with the city in a property tax rebate program meant to stimulate new construction.
The neighborhood revitalization plan, which the Baldwin City Council passed in March, would rebate 100 percent of the property tax value of new residential, industrial and commercial construction for five years. It would give the same five-year, 100 percent rebate on improvements that increase an existing business or home’s property value by more than 10 percent.
Board members Sandy Chapman, Ivan Huntoon and Greg Kruger said the five-year, 100 percent rebate created too big a gamble that new construction would pay off for the district. What saved the plan from defeat Monday was the inclusion of the 95 percent, 10-year rebate on affordable housing or historic preservation projects.
(Read more: LJWorld.com / Lawrence, Kansas)