Board Bill Number 72 Votes | Session 2023-2024
Chapter 99 Redevelopment Plan for the 4221-4227 Forest Park Ave. Redevelopment Area
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 4221-4227 Forest Park Ave. Redevelopment Area. The project consists of the construction a residential building in the Central West End Neighborhood. The prospective redeveloper is producing 38 one-bedroom units, at the cost of $10.6 million. The redeveloper plans to utilize LIHTC and private funds for this project. 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).
09/15/2023 Final Passage Vote Results
|10||Shameem Clark Hubbard||Aye|
|President||Megan E Green||Aye|