Ordinance 71322

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

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Summary

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.

Overview

Session: 2020-2021

Board Bill Number: 205

Sponsor: Brandon Bosley

Committee: Neighborhood Development

Effective: 03/23/2021

Legislative History

  • 01/08/2021

    First Reading

  • 01/15/2021

    Second Reading

  • 01/22/2021

    Perfection

  • 02/05/2021

    Third Reading

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