Councilmen Jim Kenney and Mark Squilla want to give long-term residents in gentrifying neighborhoods relief from anticipated property tax hikes under the Actual Value Initiative. The Daily News reports that the Councilmen have introduced a bill that could cap property tax assessments for residents who have owned their home for more than a decade. The cap would last until the house’s title changed or sold.
National developer Don Peebles wants to develop the Philly’s second casino, even though, as KYW reports, the license is in limbo. The Inquirer reports that Peebles does not have a site in mind but envisions a high-end casino that includes a hotel and entertainment complex.
Carl Dranoff’s Southstar Lofts, the 80-unit transit-oriented development planned for Broad and South, was approved by the planning commission Tuesday. PlanPhilly’s Kellie Patrick Gates reports that neighbors and the developer have negotiated design revisions and are close to agreement. The design will also incorporate some coverage for the open subway entrance.
The School Reform Commission will likely pass a $2.5 billion budget this evening and a broad coalition of students, parents, unions, and educators plan to protest next year’s budget, reports the Inquirer. The already austere budget will require even tougher revisions if the district doesn’t receive $94 million from the city in new property tax revenue.
Four dozen historic industrial buildings in Kensington were nominated to the National Register of Historic Places, reports Hidden City Daily. Should these 48 buildings be listed on the National Register, they will become eligible for preservation tax credits that could incentivize redevelopment. This designation does not protect these resources from demolition.
The Buzz is Eyes on the Street’s morning news digest. Have a tip? Send it along.