What is the primary purpose of an abatement program?

The primary purpose of an abatement program is to stimulate community revitalization. Abatement programs are typically implemented to encourage investment in areas that may be economically distressed or in need of redevelopment. These programs often involve the reduction or elimination of property taxes or other financial incentives for developers who invest in properties within specific zones. By alleviating some of the financial burden, abatement programs aim to attract new businesses, enhance property values, and ultimately rejuvenate neighborhoods. This focus on revitalization helps to create a more vibrant, sustainable community, drawing in residents and businesses alike.

The other options, which suggest increasing costs, placing a moratorium on development, or charging higher fees, do not align with the fundamental goals of an abatement program, which is to foster growth and improvement in targeted areas, rather than restrict or financially burden development efforts.