Board Bill Number 162 | Session 2019-2020

Chapter 99 Redevelopment Plan and Blighting Study for the 4565-4591 McRee Ave. Redevelopment Area

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 4565-4591 McRee Ave. Redevelopment Area. This Board Bill will allow 4565 and 4565R McRee Ave. to have 10 years of tax abatement based on 50% of the assessed value of the incremental improvements and that 4591 McRee Ave. to have 10 years of tax abatement based on 90% of the assessed value of the incremental improvements The project consists of two industrial buildings in the Forest Park Southeast neighborhood. The prospective redeveloper proposes demolishing one building and constructing an entertainment venue at 4591 McRee Ave. The developer also plans on renovating the building at 4565 McRee Ave. for office and bar/ restaurant space and using the vacant parcel at 4565R McRee Ave. for supportive uses. The acquisition cost for all three parcels is $3.7 million, and construction costs are estimated at $37 million for both projects.

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Overview

Session: 2019-2020

Sponsor: Joseph D Roddy

Ordinance: 71140 effective 06/07/2020

Committee: Neighborhood Development

Legislative History

Legislative activities for this board bill. Learn more about what these activities mean.

  • 11/15/2019

    First Reading

  • 03/06/2020

    Second Reading

  • 03/13/2020

    Perfection

  • 04/20/2020

    Third Reading

  • 04/20/2020

    Third Reading

04/20/2020 Final Passage Vote Results

Aye Votes
26
Nay Votes
0
Vote Totals

View vote details

Ordinance

Ordinance Number: 71140

Effective Date: 06/07/2020

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