Updates

Daily NAPTA Update 8.5.2022

Posted by Diane Macri | Aug 05, 2022

NATIONAL

Housing prices are cooling fast—and it's hitting these homes the hardest

Fortune
The latest news flash on housing is a shocker: A new window into where prices are trending up-close and right now shows that values in many markets are dropping. That reading marks a sudden...


New Yorkers Plan to Work From Home Half the Time

Bloomberg
Most New Yorkers who worked from home during the pandemic plan to cut their time in the office by nearly half and spend less money in the city annually, illustrating the challenges the city faces as companies adjust to hybrid schedules.


ILLINOIS

Lavdim Memisovski, ex-Cook County assessor worker, admits helping cut taxes by $1M in exchange for home improvements

Chicago Sun-Times
A former longtime Cook County assessor's office employee agreed to cooperate with federal prosecutors Thursday as he admitted helping lower taxes on certain Cook County properties by at least $1 million in exchange for benefits like home improvements.


MICHIGAN

$60M Tax Break Given For Former Hudson's Department Store Site

One Detroit PBS
After weeks of conversation and compromise, the Detroit City Council narrowly approved, in a 5-4 vote July 26, a $60 million tax abatement for Bedrock Detroit's development at the former Hudson's Department Store site downtown.


OHIO

Tax abatement approved for Lakeview Farms in Delphos

hometownstations.com
Lakeview Farms is investing 24 to 30 million dollars to expand their commercial food processing plant and add warehouse space. An increase of up to 180,000 square feet of new space. Thursday, Allen County commissioners approved a 10-year, 90% tax abatement for the company's new investment in the expansion.

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