TO APPROVE "THE CITY OF BLOOMINGTON TAX ABATEMENT PROGRAM GENERAL ST AND ARDS" WHICH AMENDS AND SUPERSEDES ALL FORMER VERSIONS OF THE CITY'S TAX ABATEMENT PROGRAM CRITERIA AND PROCEDURES.
This resolution amends the general standards of the Tax Abatement program of the City of Bloomington. Based upon the recommendation of the City's Economic Development Commission, this resolution amends the eligibility criteria required of Tax Abatement Applicants and allows for the creation of affordable housing units to be considered as a threshold criterion, independently of economic development considerations.