Cole Idea For Small Businesses
Councilwoman Laketa Cole's behind a proposal to lower to $40,000 the investment amount required to trigger eligibility for a commercial or industrial tax exemption. The required amount is $100,000 now.
Cole hopes more small businesses would be able to take advantage of the Community Reinvestment Act exemptions.
Council passed the change Wednesday night. Cole said she and the city administration had been working on it since 2006.