GOV
Board Bill Number 185 In Session 2019-2020
North 2nd Street development Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 618-624 & 700-702 North 2nd St. Area. This Board Bill will allow 618-624 & 700-702 North 2nd St. Area to have 10-year tax abatement based on 75% of the assessed value of the incremental improvements. The project consists of the renovation of two unoccupied commercial buildings in the Downtown neighborhood. The prospective redeveloper is acquiring the properties for $2,700,000 and plans on renovating the buildings for the approximate cost of $12,400,000. The redeveloper plans to utilize private funds for this project. The properties will have office/commercial space on the first floors and a total of 76 residential units on the upper floors of the two buildings.
Download
- Introduced (1.77 MB PDF)
Overview
Session: 2019-2020
Primary Sponsors: Jack Coatar
Ordinance: 71118 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: 71118
Effective Date: 04/25/2020
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