Group Upset Over Apartment Complex Tax Break

CHATTANOOGA, Tenn. (WDEF) — A downtown apartment complex causes quite a stir among some Chattanooga residents.

It comes after the Chattanooga Downtown Redevelopment Corporation approved a resolution allowing the Walnut Commons apartment complex to keep its tax-exempt status.

“We have tremendous problems, and we’re looking at giving this operation another $1.4 million of abatement, and as Mr. Konvalinka said, you don’t have to do it,” one resident said.

Chattanooga residents with the group, Accountability for Taxpayer Money, say they’re disappointed.

They say the money from a property tax break for Walnut Commons could’ve gone toward schools, and other city and county services.

“We granted a PILOT. We provided a $2.4 million tax break for a project that we think was in violation of state law in that it did not provide any benefit to low and moderate income, which is the only reason we can grant a housing PILOT,” said Helen Burns Sharp, Accountability for Taxpayer Money.

But the board still unanimously approved the resolution.

“The board had a choice, and they opted to choose to, and they had that right, to choose to do what the private developers wanted in order to keep them tax exempt,” Sharp said.

Even though this was a setback, Sharp says ATM will continue to fight for residents.

News 12 reached out to Walnut Commons at Thursday’s meeting, but officials declined to comment on the decision.



Categories: Local News

Leave a Reply

Your email address will not be published. Required fields are marked *