Posted Oct 21, 2011, 5:56 PM
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Join Date: Feb 2005
Posts: 8,575
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$2.5M tax break helps Skyhouse
Quote:
The Atlanta Development Authority approved a property tax break Thursday for a 23-story apartment tower that condo developer Jim Borders plans for Midtown. The total estimated tax savings for the project called Skyhouse is $2.5 million over 10 years.
In an interview with The Atlanta Journal-Constitution after the meeting, Borders said he doesn’t have construction financing yet, but the tax break is a crucial piece toward getting it because it lowers his costs in the project's first 10 years.
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AJC
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