Ordinance 71322

Chapter 99 Redevelopment Plan for the 2025 Agnes St. Redevelopment Area

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Ordinance

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 2025 Agnes St. Redevelopment Area. This Board Bill will allow 15 years of tax abatement (10 years of tax abatement based on 95% of the assessed value of the incremental improvements followed by 5 years of tax abatement based on 50% of the assessed value of the incremental improvements). The project consists of the renovation of a vacant single-family home in the Hyde Park neighborhood. The prospective redeveloper proposes total renovation of the property and selling this one bedroom, one-bathroom residence for $38,000.

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Legislative History

Session: 2020-2021
Board Bill Number: 205
Primary Sponsor: Brandon Bosley
Co-Sponsors:
Committee: Neighborhood Development
First Reading: 01/08/2021
Second Reading: 01/15/2021
Perfection: 01/22/2021
Third Reading: 02/05/2021
Effective Date: 03/23/2021

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