Ordinance 71325

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the N. Newstead Ave./Cottage Ave./Whittier St./Page Blvd. Redevelopment Area. This Board Bill will allow up to a twenty-five (25) year tax abatement as follows: ten (10) years based on 95% of the assessed value of the incremental improvements, followed by fifteen (15) years based on 50% of the assessed value of the incremental improvements. This Area includes both occupied and unoccupied residential and commercial buildings and vacant lots.

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