GOV
Ordinance 71630
Chapter 99 Redevelopment Plan for the 704-710 North 2nd St. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 704-710 North 2nd St. Redevelopment Area. The prospective redeveloper is acquiring the properties for $1,998,000 and plans on renovating the building for the approximate cost of $10,246,000. The redeveloper plans to utilize private funds and historic credits for this project. The properties will have commercial space on the first floors and a total of 33 residential units on the upper floors of the two buildings. This Board Bill will allow ten (10) years of tax abatement (10 years based on 75 percent of the assessed value of the incremental improvements).
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Overview
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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01/13/2023
First Reading
Bill text was introduced (1.83 MB PDF).
01/13/2023Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
01/19/2023Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
01/20/2023Second Reading
01/27/2023Perfection
The bill was passed.
02/03/2023Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
02/03/2023Third Reading
The bill was passed.
02/03/2023Delivered to Mayor
02/17/2023Mayor Returns Bill
The bill was approved.
02/17/2023Delivered to Register
03/02/2023Register Returns Notice with Ordinance Number
Register returns ordinance number 71630. Effective date is 03/16/2023
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