REMARKS
Council Member Justin L. Brannan opens Finance Committee meeting on property tax exemption amendment
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Council Member Justin L. Brannan convenes the Finance Committee meeting to vote on a property tax resolution amending an Article 5 exemption.
- The meeting focuses on amending an existing 40-year Article 5 exemption for a building in Council Member Ossé's district
- The amendment would extend the exemption, set to expire in July 2025, for another 40 years
- The extension requires reserving 30% of units for formerly homeless individuals
- The building must complete identified capital work as part of the agreement
- Several council members are present, including some participating via Zoom
Justin L. Brannan
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Good morning.
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Welcome to today's finance committee meeting.
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I'm Mister Justin Brannen.
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I have the privilege of chairing the committee on finance.
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We've been joined this morning.
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My council member Sanchez Ayala, Brooke Powers, Farius, Stevens, Osea, Hudson, Powers, Brewer, Moia on Zoom, Today, the committee will be voting on 1 property tax, preconceived resolution.
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The resolution is an amendment of an existing partial 40 year article 5 exam for one building in council member O'SAY's district.
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The exemption is set to expire in July of 2025, and the amendment will extend the article 5 for another 40 year term.
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As part of the extension, the building will reserve 30% of the units for formally homeless people and complete identified needed capital work.