Plan encourages private redevelopment -, South Georgia News, Weather, Sports

Plan encourages private redevelopment

By  Stephanie Springer  - bio | email

ALBANY, GA (WALB) –  Albany Commissioners are moving forward with an Urban redevelopment plan that will give property owners incentives for redeveloping blighted areas.

The purpose of the plan to encourage private redevelopment and create jobs in Albany.

Once the commission adopts the urban redevelopment area, they can move forward with applying for the opportunity zone, which will allow for tax credits.

"If it's a new business or even an existing business and they added at least two new jobs, that's the threshold at least two, then they are eligible for the tax credits which is $3,500 per job,"  said Interim Planning and Development Director Mary Teter. 

Next Tuesday, there will be a public hearing on the plan at 8:00pm at the Government Center.


©2010 WALB News. All rights reserved.   Feedback

Powered by Frankly