The City Council has approved support for a Class 6(b) tax incentive for the property located at 9165 S Harbor Ave. This tax incentive is aimed at encouraging the industrial development and revitalization of the property, offering reduced property taxes to promote job creation and economic growth within the community.
The Class 6(b) tax incentive is significant as it helps stimulate economic development by attracting industrial businesses, creating job opportunities, and revitalizing underutilized properties. This incentive aligns with the city's broader efforts to foster economic growth and improve industrial areas.