The 10-year tax abatement is getting a hard look in City Hall. Here's one of the more intruiging proposals we've heard for a potential change: tie the abatements to the environmental friendliness of the new buildings. The abatements would be given only to those properties that receive LEED certification, and the abatements would get bigger depending on what level of certification the project receives. A press release on the proposal follows.

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TAX ABATEMENT GOING GREEN
Bill changes property tax abatement to require LEED certification

Philadelphia, PA (March 5, 2009) — On Thursday, March 5th, Council members Blondell Reynolds Brown and Curtis Jones Jr. will co-sponsor and introduce a bill that will “green” the current ten year tax abatement on all new and rehabilitated residential and rehabilitated commercial properties. Applicants under the new system will receive property tax abatements proportional to achieving one of the four LEED Green Building certification levels: Certified, Silver, Gold, or Platinum.

The Leadership in Energy and Environmental Design (LEED) rating system is the nation’s leading Green Building standard. Created and administered by the United States Green Building Council, LEED measures performance through standards that evolve through industry input and expertise. Certification is achieved by demonstrating certain required actions as well as a flexible point system that allows each building to coordinate green building techniques and materials appropriate for each project’s unique budget and design. At last count, 345 jurisdictions are using the LEED rating system as part of their tax abatements, public building requirements or zoning requirements, according to the United States Green Building Council database.
 

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