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BB 185

North 2nd Street development Area

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 618-624 & 700-702 North 2nd St. Area. This Board Bill will allow 618-624 & 700-702 North 2nd St. Area to have 10-year tax abatement based on 75% of the assessed value of the incremental improvements. The project consists of the renovation of two unoccupied commercial buildings in the Downtown neighborhood. The prospective redeveloper is acquiring the properties for $2,700,000 and plans on renovating the buildings for the approximate cost of $12,400,000. The redeveloper plans to utilize private funds for this project. The properties will have office/commercial space on the first floors and a total of 76 residential units on the upper floors of the two buildings.

Sponsor
Neighborhood
BB City Publish Date
Board Bill Session
2019-2020
Board Bill Status
First Reading
Files

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