Board Bill Number 162 | Session 2023-2024
Redevelopment Plan for the 3101-3115 South Jefferson Ave. and 2614-2624 Arsenal St. Redevelopment Area
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 3101-3115 South Jefferson Ave. & 2614-2624 Arsenal St. Redevelopment Area. The project consists of vacant lots in the Benton Park West neighborhood. The prospective redeveloper plans constructing a multi-story building with 49 senior citizen residential units, at the cost of $14.5 million. The redeveloper plans to utilize LIHTC and private funds for this project. Staff supports up to fifteen (15) years of tax abatement as follows: ten (10) years of tax abatement based on 90% of the assessed value of incremental improvements followed by five (5) years of tax abatement based on 50% of the assessed value of incremental improvements.
Latest Bill text:
- Introduced (3.22 MB PDF)
Primary Sponsors: Alisha Sonnier
Latest Activity: Committee Assignment
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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