TOP STORY OF THE DAY - Emmert Group Properties receives 5-year residential tax abatement

HAYLEY COOPER PHOTO - The Council was at odds regarding Emmert's 10-year residential tax abatement.

At the Common Council meeting on Wednesday, Kim Emmert O'Dell presented to the Council regarding a 10-year residential tax abatement for Emmert Group Properties' 24-building, 48-unit lot on the corner of Depot Street and West Central Avenue. The low-rent apartments are ideally for single seniors or single young professionals, as the apartments are 525 sq feet, one bedroom and bath.

Residential real abatements are prohibited unless they meet one of three criteria: multi-family with 20% moderate to low-income, the area is in an EDTA (economic development target area), or a residentially distressed area. The Economic Development Commission previously favored the area being designated an economic development target area.

O'Dell says Windbreaker Flats will benefit Brazil greatly with an increase in tax base, the improvement of a blighted property, and more.

"It gives us a more affordable option for the residents, a right size option for the community, and it helps attract and retain local talent," explained O'Dell.

O'Dell describes that they are asking for a residential abatement to keep rent low and provide something nice to live in. The two units already built are occupied by pleased senior tenants who didn't need more and, frankly, O'Dell explains, couldn't afford more.

"To make this make financial sense for us, we need your help. The tax abatement will get us moving in the right direction and make it so it does get us the return we need to move forward," said O'Dell.

The Council took a moment before Steve Bell motioned to approve the 10-year residential tax abatement. The motion did not receive a second, and Brad Deal motioned for a 5-year residential tax abatement.

SUBMITTED PHOTO - Emmert Group Properties LLC has built two “testers” on Sherman and Colfax. O'Dell says the two senior tenants are more than happy with the apartment's size and affordability.

With a four-to-one vote, the Common Council voted to approve the five-year residential abatement for Emmert Properties LLC.

The five-year period deduction for real property is broken down by the first year having a 100% deduction, the second having 80%, the third having 60%, the fourth having 40%, the fifth having 20%, and the sixth and thereafter having no deductions.

In the closing comments of the meeting, Brazil Mayor Brian Wyndham expressed his hope that Emmerts will "hang in there with us" and that what they've done for the city of Brazil doesn't go unnoticed.

"I would like to thank Kim and Brad (Emmert) for what you do; you look around in this community; if Emmert's hadn't built the housing they already built, we wouldn't have anything," said Mayor Wyndham.