GOV
Board Bill Number 163 In Session 2019-2020
Chapter 99 Redevelopment Plan and Blighting Study for the 2127 North 11th St. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 2127 North 11th St. Redevelopment Area. This Board Bill will allow up to fifteen (15) years of tax abatement as follows: ten years (10) years of tax full abatement followed by five (5) years of tax abatement based on 50% of the assessed value of incremental improvements. The project consists of renovation of the vacant Webster school in the Old North neighborhood. The prospective redeveloper plans renovating the school into 45 senior citizen residential units, and building 4 units behind the school, all 2 bedrooms, at the cost of $ 8.1 million. The redeveloper plans to utilize LIHTC and private funds for this project.
Download
- Introduced (1.58 MB PDF)
- Fiscal Notes (96.07 KB PDF)
Overview
Session: 2019-2020
Primary Sponsors: Tammika Hubbard
Ordinance: 71089 effective 03/03/2020
Committee: Neighborhood Development
Legislative History
Legislative activities for this board bill. Learn more about what these activities mean.
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11/15/2019
First Reading
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12/13/2019
Second Reading
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01/10/2020
Perfection
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01/17/2020
Third Reading
Votes
01/17/2020 Vote Results
Ordinance
Ordinance Number: 71089
Effective Date: 03/03/2020
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