Chapter 99 Redevelopment Plan and Blighting Study for 4915-4925 West Pine Blvd
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 4915-4925 West Pine Blvd. Redevelopment Area. This Board Bill will allow a 10-year tax abatement with PILOTS equaling $124,100 or $850 per new residential unit, whichever is greater, plus a 2.5% annual increase. The project consists of a parking lot in the Central West End neighborhood. The prospective redeveloper proposes constructing a 146-unit apartment building with a 146-space parking garage. The acquisition cost is $2 million and construction costs are estimated at $37 million.