GOV
Ordinance 71830
Redevelopment Plan for the 2601 Market St. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 2601 Market St. Redevelopment Area. The prospective redeveloper plans on constructing two multi-story buildings with 304 hotel rooms, at the cost of $126 million. Kimpton Hotel will be in the eastern building. Staybridge Suites will be in the western building. 116 full time employees will be employed by the hotels. The redeveloper plans to use utilize private funds for this project. This Board Bill allows up to ten (10) years of tax abatement based on 75 percent of the assessed value of the incremental improvements.
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Overview
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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01/12/2024
First Reading
Bill text was introduced (2.48 MB PDF).
01/12/2024Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
02/06/2024Committee Hearing
The bill was held in committee during the Housing, Urban Development and Zoning Committee hearing.
03/26/2024Committee Hearing
The bill failed during the Housing, Urban Development and Zoning Committee hearing.
04/02/2024Committee Hearing
The bill was held in committee during the Housing, Urban Development and Zoning Committee hearing.
04/04/2024Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
04/05/2024Second Reading
04/05/2024Perfection
The bill was passed.
04/15/2024Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
04/15/2024Third Reading
The bill was passed.
04/15/2024Delivered to Mayor
05/01/2024Mayor Returns Bill
The bill was approved.
05/01/2024Delivered to Register
05/02/2024Register Returns Notice with Ordinance Number
Register returns ordinance number 71830. Effective date is 06/01/2024
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