Board Bill Number 185 | 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.

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Overview

Session: 2019-2020

Sponsor: 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.

  • 12/13/2019

    First Reading

  • 02/14/2020

    Second Reading

  • 02/21/2020

    Perfection

  • 03/06/2020

    Third Reading

03/06/2020 Final Passage Vote Results

Aye Votes
26
Nay Votes
0
Vote Totals

View vote details

Ordinance

Ordinance Number: 71118

Effective Date: 04/25/2020

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