Originally Posted by bywoods
I know this is a controversial topic and my opinion won't win any friends on this forum, but I think Goode has a point here. Yes philly has high construction costs and relatively low rents, and the tax abatement program has definitely helped spur development....
Anyone who can afford to live here can easily afford to also pay some real estate taxes to help their community pay its bills and keep the schools open
Bottom line . No tax abatements then No Center City residential renaissance. No Ten Rittenhouse, No 1706 Rittenhouse ,No Graduate Hospital resurgence, perhaps No Granary,No 2116 Chestnut,No SLS International announcement. Center City and Philadelphia would be a much lesser place without these property tax abatements.
If Goode was in control. Center City would be a shell of its current self and the schools would still be fractured,broken and underfunded. At least the tax abatements bring wealthy residents into the city where their wage taxes and ancillary spending will contribute to the tax coffers.
The 10 year property tax abatement is the least this city can do to help new residents deal with the nightmare that is the public schools and Goode and Blackwell's surrounding hoods.