GOV
Ordinance 71757
Chapter 99 Redevelopment Plan for the 3041 Locust Blvd. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 3041 Locust Blvd. Redevelopment Area. This Area has a parcel that includes a commercial building that is in the Midtown Neighborhood. The property in the Area is currently blighted and is in a deteriorated condition that constitutes an economic liability to the City. The building was purchased for $1.1 million. The prospective redeveloper plans on renovating the commercial building at 3041 Locust St. into 8 apartments and 5,800 sf for offices for the approximate cost of $4.7 million including acquisition. Private financing and historic tax credits will be sought to finance the project. This Board Bill includes no use of eminent domain and ten (10) year tax abatement 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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10/13/2023
First Reading
Bill text was introduced (2.83 MB PDF).
10/13/2023Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
11/14/2023Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
11/17/2023Second Reading
12/01/2023Perfection
The bill was passed.
12/08/2023Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
12/08/2023Third Reading
The bill was passed.
12/08/2023Delivered to Mayor
12/18/2023Mayor Returns Bill
The bill was approved.
12/19/2023Delivered to Register
01/09/2024Register Returns Notice with Ordinance Number
Register returns ordinance number 71757. Effective date is 01/18/2024
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