Board Bill Number 47 In Session 2026-2027

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the Tiffany Scattered Sites II Redevelopment Area. The project consists of the renovation of 21 buildings in the Tiffany Neighborhood. The prospective redeveloper is producing 60 affordable units ranging from 1-3 bedrooms, at the cost of $15.4 million. The redeveloper plans to utilize LIHTC, other public and private funds for this project. The financial model concludes that the project supports fifteen (15) years of tax abatement (10 years based on 90% of the assessed value of the incremental improvements and followed by 5 years based on 50% of the assessed value of the incremental improvements).

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