Board Bill Number 113 Votes | Session 2021-2022

Steelcote Gratiot LLC Project

Board Bill

This Board Bill authorizes the issuance of Taxable Industrial Revenue Bonds for the Steelcote Gratiot LLC project, which consists of the development of approximately 196 multi-family residential apartments, 65,000 square feet of retail space and 355 structured and surface parking spaces. The proposed bonds will facilitate a sales and use tax exemption on construction materials used to construct the project. The bonds are payable only from the lease revenues paid by the Developer and not from any City tax revenues. The Developer, in a separate board bill, is also pursuing creation of a community improvement district. The Developer will be required to maintain a portion of the Project as workforce housing, affordable to families making 80 percent or less of the area median income.

View Board Bill 113 details

11/23/2021 Final Passage Vote Results

Noes (0)

No "no" votes recorded

Did Not Vote (0)

No "Did Not Vote" votes recorded

Abstain (1)

Ward Alderman
7 Jack Coatar

Present (1)

Ward Alderman
12 Bill Stephens

Absent (6)

Ward Alderman
1 Sharon Tyus
15 Megan E. Green
16 Tom Oldenburg
21 John Collins-Muhammad
22 Jeffrey L Boyd
25 Shane Cohn

Vacant Seat (0)

No vacant seat

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