By Becky Pallack | Arizona Daily Star
With the help of a city tax incentive program, the resurrection of downtown is continuing to pick up steam.
On Tuesday a trio of developers will ask the Tucson City Council to support tax breaks that will help them restore several downtown buildings that are outdated, blighted or both.
The Government Property Lease Excise Tax — or GPLET — incentive program, created by the city in 2012, waives property taxes for eight years if the developer increases the property’s value by at least 100 percent. Also, an economic analysis must show the benefit to the government is greater than the benefit received by the developer.
