We have focused our discussions on TIFs, but is it abatements that have truly gotten out of control?
Developer rails at abatements for KC condos
"Tax abatement works for rentals because the owners of the rental properties are the ones getting the benefit," said Trabon, chairman of the Downtown Council of Kansas City's housing committee.
When downtown condos started gaining favor in the early part of this decade, their sellers continued to seek abatements. These requests baffled Trabon, then with Master Realty Properties Inc., an early user of abatements for what became Downtown's largest portfolio of rental housing.
Condo developers said they needed abatements to market their units.
"Baloney," said Trabon, an accountant who spoke from experience.