Insider: How to Incentivize Development In Philly’s Overlooked Neighborhoods
By Ariel Ben-Amos, published in phillymag.com in March 2016
Last week, Councilman and Condo King Allan Domb went public with a proposal to double the city’s controversial tax abatement from 10 to 20 years for properties worth less than $250,000. Domb points out that developers have not invested in neighborhoods in North Philly, West Philly and Southwest Philly the way they have in Greater Center City, and he thinks his legislation will change that.
Whether or not you agree with his proposed solution, it’s undeniable that the problem he identified needs to be fixed. Many Philadelphians are worried — rightly — that they will miss out on the massive growth of Greater Center City. These are residents who are isolated from downtown amenities, as well as those who have been driven out of their former homes by rising housing costs.
But there’s a better way to spur development in outlying neighborhoods than to expand the city’s expensive tax abatement.
Here’s how: The state’s General Assembly should pass Senate Bill 385. It wouldn’t even threaten the school district’s budget the way Domb’s proposal could.