Louisville Metro Councilman David Tandy is sponsoring legislation that would extend tax incentives to people who redevelop older buildings into environmentally-friendly structures.
The proposal amends an existing ordinance, and would extend a Tax Assessment Moratorium to buildings that become LEED certified at the end of the renovation. LEED is a standard for green building design.
The moratorium exempts the building owner of additional taxes if they increase the value of the property. Tandy says if approved, the measure would put Louisville at the forefront of green redevelopment.
“Louisville can be that Silicon Valley, if you will, for sustainable living,” says Tandy, “and that’s what I think our goal needs to be as a community.”
The amendment will be considered in committee early next month, and could receive a vote as soon as May 14th.