Tax abatements for new residential developments — Abatement caps.
(a)The Mayor may approve up to $2.5 million in annual tax…#
(a) The Mayor may approve up to $2.5 million in annual tax abatements under §§ 47-857.03 and 47-857.05 ; provided, the Mayor may approve only up to $500,000 in annual tax abatements in fiscal year 2003.
(b)The Mayor may approve up to $2 million in annual tax…#
(b) The Mayor may approve up to $2 million in annual tax abatements under §§ 47-857.04 and 47-857.06 .
(c)The Mayor may approve up to $3.5 million in annual tax…#
(c) The Mayor may approve up to $3.5 million in annual tax abatements under §§ 47-857.07 and 47-857.08 ; provided, that $500,000 shall be reserved for properties in eligible area #4.