12/6/2007
4
How does the NRA work? (cont.)
l95% rebate on
incremental increase over 10
years
l95% rebate on
incremental increase over 15
years for qualified historic properties
l.5% of the rebate
allocated for administration
l4.5% of the rebate
allocated to Neighborhood
Revitalization Fund
lRebate stays with
property
lModeled after the 8th and Penn
Plan