Ordinance 71116

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the La Saison Scattered Sites Area. This Board Bill will allow La Saison Scattered Sites Area to have 10-year tax abatement (5-year tax abatement based on 95% of the assessed value of the incremental improvements followed by 5-year tax abatement based on 50% of the assessed value of the incremental improvements). The project consists of ten vacant lots in the Peabody Darst Webbe neighborhood. The prospective redeveloper (Habitat for Humanity) plans on constructing ten single-family homes for the approximate cost of $1.8 million. The redeveloper plans to utilize private funds for this project.

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