By Matthew Power
Portland, Ore., long known for its aggressive growth control measures, has again pushed the envelope. The city struck a deal with gigantic computer-chip maker Intel Corp., requiring the company to pay a $1,000 annual growth impact fee for every job it creates in the area. The deal sounds tough on Intel, until you consider that in exchange, the company will get enormous property tax breaks for the next 15 years. Advocates for the tax look at it as a way for Intel to be part of the sprawl solution.
Source: Fannie Mae Foundation