Board Bill Number 104 In Session 2022-2023
Redevelopment Plan for the 3401 Goodfellow Blvd Area
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 3401 Goodfellow Blvd Area. The project consists of the renovation of 11 residential buildings in the Wells/Goodfellow neighborhood. The prospective redeveloper plans on renovating all 146 units ranging from 2-3 bedrooms, at the cost of $ 30.5 million. The redeveloper plans to utilize Affordable Housing Trust Fund, Nat'l/Affordable Housing Trust Fund, LIHTC and private funds for this project. The financial model concludes that the project supports fifteen (15) years of tax abatement (10) years based on 95 percent of the assessed value of the incremental improvements and followed by (5 years based on 50 percent of the assessed value of the incremental improvements) and the LCRA Board concurs. This Board Bill will allow fifteen (15) years of tax abatement (10 years based on 95 percent of the assessed value of the incremental improvements and followed by (5 years based on 50 percent of the assessed value of the incremental improvements).
Latest Bill text:
- Introduced (1.95 MB PDF)
Primary Sponsors: Norma Walker
Latest Activity: Register Returns Notice with Ordinance Number
Ordinance: 71596 effective 01/20/2023
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
Bill text was introduced (1.95 MB PDF).10/21/2022
Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.11/17/2022
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.11/18/2022
The bill was passed.12/09/2022
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.12/09/2022
Delivered to Mayor12/20/2022
Mayor Returns Bill
The bill was approved.12/20/2022
Delivered to Register12/29/2022Feedback is anonymous.
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