Board Bill Number 75 In Session 2023-2024
Chapter 99 Redevelopment Plan for the Marquette Park Scattered Sites Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the Marquette Park Scattered Sites Redevelopment Area. The project consists of the renovation of 6 buildings and construction 5 residential buildings in the Dutchtown and Gravois Park Neighborhoods. The prospective redeveloper is producing 60 units ranging from 1-3 bedrooms, at the cost of $25.9 million. The redeveloper plans to utilize Historic Tax Credits, LIHTC and private funds for this project. The financial model concludes that the project supports fifteen (15) years of tax abatement (10 years based on 90 percent of the assessed value of the incremental improvements and followed by 5 years based on 50 percent of the assessed value of the incremental improvements).
Download
Latest Bill text:
- Introduced (3.67 MB PDF)
Overview
Session: 2023-2024
Introduced: 06/23/2023
Primary Sponsors: Shane Cohn
Latest Activity: Register Returns Notice with Ordinance Number
Ordinance: 71722 effective 10/25/2023
Legislative History
Legislative activities and outcomes for this board bill. Learn more about what these activities mean.
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06/23/2023
First Reading
Bill text was introduced (3.67 MB PDF).
06/23/2023Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
07/11/2023Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
07/14/2023Second Reading
07/20/2023Perfection
The bill was passed.
09/15/2023Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
09/15/2023Third Reading
The bill was passed.
09/15/2023Delivered to Mayor
09/27/2023Mayor Returns Bill
The bill was approved.
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