After much back-and-forth debate over how the government should oversee tax breaks to private developers, the City Council unanimously approved a 14-year tax break for renovations to one of Chattanooga’s landmark downtown structures, the Maclellan Building.
The council voted Tuesday to waive the city’s portion of about $1.3 million in taxes for a Memphis-based developer, Heritage Land and Development Co., over the next 14 years and then slowly reintroduce the taxes in increments over another four years.
The Hamilton County Commission will vote on waiving the county’s portion of taxes this morning.