Ordinance 71330

Chapter 99 Redevelopment Plan for the 1319 & 1321 Benton St. and 2500 N. 14th St. Redevelopment Area

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Ordinance

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 1319 & 1321 Benton St. and 2500 N. 14th St. Redevelopment Area. This Board Bill will allow up to fifteen years of tax abatement provided as follows: ten years (10) years of tax abatement based on 95% of the assessed value of the incremental improvements, followed by five (5) years of tax abatement based on 50% of the assessed value of the incremental improvements. This Area includes vacant lots which will be redeveloped for mixed-use.

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Legislative History

Session: 2020-2021
Board Bill Number: 227
Primary Sponsor: Tammika Hubbard
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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