Tax incentives to find new uses for old buildings in Old Town may soon be coming before the City Council.
Jefferson City's Council Committee on Administration on Thursday reviewed and passed along to the council a bill that would create an incentive program for the adaptive reuse of buildings in Old Town.
The proposed ordinance, if passed by the council, would create a program that would pay for a qualified owner's property taxes for no more than two years and no more than $2,000 for any one tax year.
According to the bill, the buildings would have to be built before Dec. 31, 1950. Originally, there was discussion about excluding anyone who purchased the property before Dec. 31, 2008, but the committee decided to remove that stipulation. The property must also be vacant for 120 days and be in compliance with one of the city's regional development plans, such as the Southside Redevelopment Plan.