Ordinance 71148

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the Jefferson/Gamble/Elliott/Mills Redevelopment Area. This Board Bill will allow Jefferson/Gamble/Elliott/Mills to have 15 years of tax abatement (10 years of 100% tax abatement followed by 5 years of tax abatement based on 50% of the assessed value of the incremental improvements). The project consists of several vacant buildings and lots in the JeffVanderLou neighborhood. The prospective redeveloper has the properties under contract and proposes demolishing the building and constructing a building complex that will house apartments, offices, program space, and possible retail. The first apartment building will have 50 units, with later phases adding more units. The construction costs are estimated at $6.9 million for phase 1.

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