Board Bill Number 113 In Session 2022-2023

Chapter 99 Redevelopment Plan for the 490 North Kingshighway Blvd. and 4952-4956 McPherson Ave. Area

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 490 North Kingshighway Blvd. and 4952-4956 McPherson Ave. Area. The project consists of the renovation of the existing building, the demolition of the two-family building, the construction of a five-story apartment building on top of the existing building and an addition to the existing building to the east. The development will have 118 units ranging from studio to 2 bedrooms above a 127-space parking garage, at the cost of $ 33.5 million. The financial model concludes that the project supports ten (10) years of tax abatement (5 at 90 percent followed by 5 at 75 percent) the LCRA Board concurs. This board bill will allow, ten (10) years of tax abatement (5 at 90 percent followed by 5 at 75 percent).

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Latest Bill text:

Overview

Session: 2022-2023

Introduced: 10/28/2022

Primary Sponsors: Michael J Gras

Latest Activity: Register Returns Notice with Ordinance Number

Ordinance: 71599 effective 01/20/2023

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

  • 10/28/2022

    First Reading

    Bill text was introduced (2.07 MB PDF).

  • 10/28/2022

    Referred to a Committee

    The bill was assigned to the Housing, Urban Development and Zoning Committee.

  • 11/17/2022

    Committee Hearing

    The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.

  • 11/18/2022

    Second Reading

  • 12/01/2022

    Perfection

    The bill was passed.

  • 12/09/2022

    Engrossment

    The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.

  • 12/09/2022

    Third Reading

    The bill was passed.

  • 12/09/2022

    Delivered to Mayor

  • 12/20/2022

    Mayor Returns Bill

    The bill was approved.

  • 12/20/2022

    Delivered to Register

  • 12/29/2022

    Register Returns Notice with Ordinance Number

    Register returns ordinance number 71599. Effective date is 01/20/2023

Votes

12/09/2022 Vote Results

Aye Votes 26
No Votes 0
Final Passage Vote

View vote details

Ordinance

Ordinance Number: 71599

Effective Date: 01/20/2023

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