Slow tax breaks down on projects

Chattanooga finally has a good housing PILOT program. Three good projects have been submitted since the new program began (Chestnut Flats, Jaycee Tower, Woodlawn Apartments). Good. The Berke administration has chosen a very aggressive schedule for getting these tax breaks before the City Council for approval. Not so good.

Accountability for Taxpayer Money believes that the Jaycee Tower and the Woodlawn Apartments projects are complex enough to warrant an independent review by someone with expertise in their various funding sources. This week both projects are on either the City Council or housing bond board agenda. ATM recommends the Berke administration seek thirdparty opinions and that the City Council and housing board postpone action pending the reports.

Previous tax break agreements have done a great job of ensuring that companies receiving the tax breaks got a good deal. They have done a poor job of protecting the public interest. We have not done a good enough job of making sure we can hold the companies to what they promised.

We need an independent look at the proposed agreements submitted by developers’ attorneys to ensure they protect the public interest. Helen Burns Sharp Founder, Accountability for Taxpayer Money