Board Bill Number 138 | Session 2022-2023
Redevelopment Plan for the 1423 and 1435 Mallinckrodt St. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 1423 and 1435 Mallinckrodt St. Redevelopment Area. The project consists of the renovation of an unoccupied institutional building to create office and school space. The prospective redeveloper plans on renovating at the cost of $ 7.4 million. The financial model concludes that the project supports fifteen (15) years of tax abatement (10 years based on 90 percent of the assessed value of the incremental improvements and followed by 5 years based on 50 percent of the assessed value of the incremental improvements) and the LCRA Board concurs. This Board Bill will allow fifteen (15) years of tax abatement (10 years based on 90 percent of the assessed value of the incremental improvements and followed by 5 years based on 50 percent of the assessed value of the incremental improvements).
Download
Lastest Bill text:
- Introduced (1.31 MB PDF)
Overview
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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12/09/2022
First Reading
Bill text was introduced (1.31 MB PDF).
12/09/2022Referred to a Committee
The bill was assigned to the Neighborhood Development Committee.
01/24/2023Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Neighborhood Development Committee hearing.
01/27/2023Second Reading
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