Phoenix gave illegal tax break to developer of downtown apartment complex, judge rules

By Jessica Boehm | The Republic

Phoenix promised an illegal tax break to the developer of a 21-story apartment complex under construction in downtown Phoenix, a judge ruled last week.

The decision comes after years of legal proceedings related to the complex dubbed The Derby Roosevelt Row, a micro-unit apartment complex planned for Second and McKinley streets.

In 2016, the Phoenix City Council approved a popular tax incentive for the project, which would have allowed developer Amstar/McKinley to forgo property tax payments for 25 years. Under the agreement, the developer would have paid no property tax for the first eight years and a lesser tax for the remaining 17 years. 

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