Cleveland City Council passes two tax incentives for development, regulates store-front tax prepares

Posted at 10:36 PM, Nov 21, 2016
and last updated 2016-11-21 22:36:50-05

Cleveland City Council passed two different tax incentive plans for development and introduced legislation that would regulate storefront tax preparers at their meeting Monday night. 

The tax incentive plan for the Warehouse District Development will allow a developer to renovate and convert five 100-year-old vacant buildings in the Warehouse District into 98 loft apartments. The $32 million dollar project is by the Dalad Group of Independence and is getting financial assistance through government loans and tax credits. 

The project is scheduled to begin in January and be finished by November of next year. 

Also, the council also approved another tax incentive plan for a developer to build a seven-story apartment building on Mayfield Road at the edge of Little Italy. The project would be completed by summer 2018. 

Also at the meeting, the council introduced legislation that would regulate store-front income tax preparers, which is an industry that is unregulated by state or federal laws. The proposed legislation would require tax preparers to obtain standardized testing, training and certification. It would also require preparers to disclose fee estimates fo the service and provide a taxpayers 'bill of rights.'