GOV
Ordinance 71271
Chapter 99 Redevelopment Plan for the N. Newstead Ave./Lexington Ave./Whittier Ave./Kennerly Ave. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the N. Newstead Ave./Lexington Ave./Whittier Ave./Kennerly Ave. Redevelopment Area. This Board Bill will allow up to a twenty-five (25) year tax abatement; 10 years tax abatement based on 95% of the assessed value of the incremental improvements followed by 15 years tax abatement based on 50% of the assessed value of the incremental improvements. This Area includes 154.36 acres of both occupied and unoccupied residential and commercial buildings and vacant lots.
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Overview
Session: 2020-2021
Board Bill Number: 136
Primary Sponsors: Dwinderlin Evans
Committee: Housing, Urban Development and Zoning
Effective: 02/27/2021
Sponsors:
Legislative History
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10/09/2020
First Reading
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11/20/2020
Second Reading
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12/04/2020
Perfection
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01/08/2021
Third Reading
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