Mayor Cherelle Parker wants to double the length of a real estate tax abatement for certain development projects, as part of her effort to preserve or build 30,000 units of affordable housing over four years.
Her administration is drafting legislation that would offer a full tax exemption for 20 years when a company converts an office building, vacant school, factory or former government building into a residential property.
The benefit would even be available if a developer determines that the existing structure needs to be demolished to make way for the housing, officials said…