Chapter 99 Redevelopment Plan for the 3101, 3117-3123 Delmar Blvd. & 3107-3115 Franklin Ave Area
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 3101, 3117-3123 Delmar Blvd. & 3107-3115 Franklin Ave Area. The project consists of the renovation of an occupied residential building and demolition of two homes to create a community space for residents in the JeffVanderLou neighborhood. The prospective redeveloper plans on renovating all 147 units ranging from 1-2 bedrooms, at the cost of $ 23 million. The redeveloper plans to utilize tax exempt, Nat’l/Affordable Housing Trust Fund, HOME, 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 95 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) and the LCRA Board concurs. This Board Bill will allow fifteen (15) years of tax abatement (10 years based on 95 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).
Board Bill Number: 74
Sponsor: Marlene E Davis
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
Bill text was introduced (1.31 MB PDF).07/15/2022
Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.09/22/2022
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.09/23/2022
The bill was passed.10/07/2022
The bill was placed on the informal calendar.10/28/2022
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.10/28/2022
The bill was passed.10/28/2022
Delivered to Mayor11/09/2022
Mayor Returns Bill
The bill was approved.11/10/2022
Delivered to Register11/14/2022
Register Returns Notice with Ordinance Number
Register returns ordinance number 71573. Effective date is 12/04/2022Feedback is anonymous.
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