Last month, lawmakers approved a legislation that exempts the value of improvements on property until the developer begins putting up homes and buildings or sells the acreage to another developer.
Gov. C.L. “Butch” Otter allowed the measure to become law without his signature. The Spokesman Review reports (http://bit.ly/HomuE2 ) Otter avoided putting his name on it after declaring he could have a potential conflict of interest as a developer.
Otter wrote a letter to Secretary of State Ben Ysursa outlining his concerns and efforts to avoid an impropriety.
The so-called developer’s discount bill is seen as a tool for helping developers hard-hit by the recession carry their inventory until the economic climate changes.
