Federal Power Vs. Local Tax Revenues

City tax revenues may be compromised for federal courthouse.

1 minute read

July 15, 2005, 6:00 AM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech

A developer has proposed a 31 story condo tower in Downtown Norfolk, spreading the city's renaissance northward from the core. With the developer having already begun site work, land acquisition, and condo sales, the GSA has informed the city they are interested in the land for a new federal courthouse.

A central core city would lose $3 million dollars in tax revenue for schools, roads, and social services to an untaxable federal courthouse which has had an option on the land for 10 years without acting, and waited until development of the project began to claim their sudden interest.

Thanks to Michael Hartsough

FULL STORY: Feds Hover Over Granby Tower Site

Tuesday, July 12, 2005 in Virginian Pilot

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