The City Council of Salisbury, Maryland all voted unanimously on what is known as the HORIZON Program. For those of you who are unaware of what the HORIZON Program is all about, it entails designating the Enterprise Zone in Salisbury as a Residential Zone, in order for investors and developers to receive government perks and benefits for building in an urban low-income area in order to improve the area, provide housing, and stimulate economic growth. Proposed are six mid-rise complex buildings, which would consist of apartments and retail spacing.
As an incentive to build, the City of Salisbury has proposed a 20-year tax credit for investors/developers who build in the designated Horizon Residential Zone. This can only happen if they are able to get the Wicomico County Council’s letter of support, which is required to have the legislative zoning changes approved by the State of Maryland.
How this works is that investors/developers are given a City and County tax credit over a period of 20 years as an incentive to build. In other words, the City and County would pay the property taxes on behalf of the investor/developers though exemption. Although this is a loss in revenue for both the City and County for a term, it is considered by officials and special interest groups to be a capital investment, which the losses will be recouped after the tax credit expires.
The Salisbury and Wicomico better get it together. The people are tired of crooked deals.
No way that this should be approved. These investors they are referring to already owns 3/4 of Salisbury that they got by underhanded deals / giveaways and well below the value of these properties.
Then on top of that these politians wants to put the tax burden and other expenses on the us tax payers while they reap the benefits and get richer from taking from the tax payer.. That means taking money out of the average tax payers pockets / budget with higher taxes while they reap the profits and pay no taxes.
If the Council is for the people then there should be no more than a 70 – 30 split with the 30% coming from the average tax payer.
Clearly the city is clueless when it comes to the purpose of Enterprise Zone. They exist to support creation of good jobs. This is a scheme to pad the pockets of a select few at the expense of all. I hope the county is smarter and more honest and will protect us by saying “NO”
County Council should reject and dismiss this effort.
If the planned construction is such a good deal it should be able to stand on its own legs without being propped up by the taxpayers. Pretty good bet most of the ‘investors’ don’t actually reside in the city.
The retail tenants will be businesses that fail and turnover in the toxic financial forest of the city. Residential tenants will be a mix heavily composed of various housing subsidies. The landlord will get the rent but the taxpayers at large will fund the subsidy in perpetuity.
The tax ‘savings’ will line the pockets of the ‘investors’ at the expense of revenues truly due to the city and county, who will be on the hook to provide services for the deferment period without any cash flow from the property.
In sum, good for the inside money boys but another hosing for John Q. Public.
County Council – Say NO!
who cares all they are doing is building projects as in a future ghetto in downtown salisbury. And as usual the slum lords will make bank. and the city will suffer as always! glad I don’t live in that mega metropolis!
The Democrats at play.
Hey Council…………………Just say NOOOOOOO!
more apt?
wasnt it lying jake day that said he supported more home ownership?
i have no doubt that this is the work of ms section 8 gregory.
has she ever made an honest nickel?
build it and the welfare crowd will come.
never looked back once i vacated the city limits.
should just rename the city shithole, md 21804 and be done with it
hud housing is a capitol investment?
Isnt that what the organization like the hud grant getting company occupying downtown does?
They get hud grants, build it with hud grant money, sell it back to themselves, collect the rent and not pay a dime to either build it or pay taxes on it.
I have to admit, I haven’t been paying attention to the children running the city.
The county council needs to better develop Council District 1.
The more folks that needs services that can be placed into that District, the better off everyone else will be.
That includes Biff Tannon and his family of grifters, sorry, builders.
In other news, did I wake up in Seattle? How much more rain do we need?