Board Bill Number 88 In Session 2024-2025
Redevelopment Plan for the 1100 Veronica Ave. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 1100 Veronica Ave. Redevelopment Area. The prospective redeveloper plans renovating the school into 51 affordable residential units at the cost of $21.8 million. There will be 17 one bedrooms, 23 two bedrooms, and 11 three bedrooms. The redeveloper plans to utilize LIHTC, HTC, Home and private funds for this project. Staff supports up to fifteen (15) years of tax abatement as follows: ten years (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.
Download
Latest Bill text:
- As Amended in Committee (1.42 MB PDF)
Overview
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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09/13/2024
First Reading
Bill text was introduced (4.08 MB PDF).
09/13/2024Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
10/22/2024Committee Hearing
The bill was held in committee during the Housing, Urban Development and Zoning Committee hearing.
01/28/2025Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
The bill text was changed:
- As Amended in Committee (1.42 MB PDF)
01/31/2025Second Reading
02/07/2025Perfection
The bill was passed.
Supporting Materials
These materials are not a part of the legislation. They may be presented by the sponsor, other Board members, special guest speakers or others to help further explain the proposal, provide other evidence, give additional information and/or alternative ideas or opinions.
1 document has been uploaded Title File Size Amendments 1 - 3 for Board Bill Number 88 BB88 A1-3.pdf 32.09 KB
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