Economic recovery or gentrification?
The City of Philadelphia’s 10-year tax abatement on new construction has led to the gentrification of our most vulnerable communities.
To put it bluntly, I believe the tax abatement has unfairly benefited well-heeled, largely white investors and developers, while pushing people of color out of their neighborhoods. That’s why I was befuddled when newly elected City Councilman Allan Domb proposed extending the tax abatement from 10 to 20 years for properties under $250,000.
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Solomon Jones is an Essence bestselling author and award-winning columnist. He is the creator and editor of Solomonjones.com and morning host on 900 am WURD radio. Click here to learn more about Solomon.