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Originally Posted by exit2lef
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Everyone needs to read this. Good explanations of the GPLET situation. Few key takeaways:
1) A grandfathering provision will allow CA Ventures to secure former GPLET standards if approved. At the formal council meeting next week, Mackay said city staff will recommend the development receive a 20-year GPLET agreement.
2) Development projects that apply for GPLET at the beginning of this year onward, however, will face tighter standards to receive the tax incentive as well as changes to some of its terms. (meaning every project approved prior to Jan 1, is not affected by new GPLET reform bill).