Board Bill Number 183 In Session 2019-2020
4500 - 4540 Swan Redevelopment Plan
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 4500-4540 Swan Ave. and 1305 & 1305R South Taylor Ave. Redevelopment Area. This Board Bill will allow 4540 Swan Ave. and 1305 & 1305R South Taylor Ave. to have 10 years of tax abatement based on 75% 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 the buildings and constructing an apartment building. The apartment building will have 307 units, 1,450 square feet of commercial space and 381 parking spaces. The acquisition cost for all four parcels is $4.5 million, and construction costs are estimated at $55 million.
Download
- Introduced (2.67 MB PDF)
Overview
Session: 2019-2020
Primary Sponsors: Joseph D Roddy
Ordinance: 71117 effective 04/25/2020
Committee: Housing, Urban Development and Zoning
Legislative History
Legislative activities for this board bill. Learn more about what these activities mean.
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12/13/2019
First Reading
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02/14/2020
Second Reading
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02/21/2020
Perfection
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03/06/2020
Third Reading
Votes
03/06/2020 Vote Results
Ordinance
Ordinance Number: 71117
Effective Date: 04/25/2020
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