Board Bill Number 169 | Session 2022-2023

Chapter 99 Redevelopment Plan for the 704-710 North 2nd St. Redevelopment Area

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 704-710 North 2nd St. Redevelopment Area. The prospective redeveloper is acquiring the properties for $1,998,000 and plans on renovating the building for the approximate cost of $10,246,000. The redeveloper plans to utilize private funds and historic credits for this project. The properties will have commercial space on the first floors and a total of 33 residential units on the upper floors of the two buildings. This Board Bill will allow ten (10) years of tax abatement (10 years based on 75 percent of the assessed value of the incremental improvements).

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Overview

Session: 2022-2023

Introduced: 01/13/2023

Sponsor: Jack Coatar

Latest Activity: Register Returns Notice with Ordinance Number

Ordinance: 71630 effective 03/16/2023

Legislative History

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

02/03/2023 Final Passage Vote Results

Aye Votes
25
Nay Votes
1
Vote Totals

View vote details

Ordinance

Ordinance Number: 71630

Effective Date: 03/16/2023

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