Board Bill No. 161 | Session 2019-2020

Chapter 99 Redevelopment Plan and Blighting Study for 4915-4925 West Pine Blvd

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 4915-4925 West Pine Blvd. Redevelopment Area. This Board Bill will allow a 10-year tax abatement with PILOTS equaling $124,100 or $850 per new residential unit, whichever is greater, plus a 2.5% annual increase. The project consists of a parking lot in the Central West End neighborhood. The prospective redeveloper proposes constructing a 146-unit apartment building with a 146-space parking garage. The acquisition cost is $2 million and construction costs are estimated at $37 million.

Legislative History

Overview

Session:2019-2020
Sponsor: Joseph D Roddy
Co-Sponsors:
Committee: Neighborhood Development
Actions: 11/15/2019 First Reading

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