GOV
Ordinance 71975
Redevelopment Plan for the 1100 Veronica Ave. Redevelopment Area
Summary
This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 1100 Veronica Ave. Redevelopment Area. The prospective redeveloper plans renovating the school into 51 affordable residential units at the cost of $21.8 million. There will be 17 one bedrooms, 23 two bedrooms, and 11 three bedrooms. The redeveloper plans to utilize LIHTC, HTC, Home and private funds for this project. Staff supports up to fifteen (15) years of tax abatement as follows: ten years (10) years of tax abatement based on 90% of the assessed value of incremental improvements followed by five (5) years of tax abatement based on 50% of the assessed value of 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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09/13/2024
First Reading
Bill text was introduced (4.08 MB PDF).
09/13/2024Referred to a Committee
The bill was assigned to the Housing, Urban Development and Zoning Committee.
10/22/2024Committee Hearing
The bill was held in committee during the Housing, Urban Development and Zoning Committee hearing.
01/28/2025Committee Hearing
The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.
The bill text was changed:
- As Amended in Committee (1.42 MB PDF)
01/31/2025Second Reading
02/07/2025Perfection
The bill was passed.
02/11/2025Engrossment
The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
02/11/2025Third Reading
The bill was passed.
02/11/2025Delivered to Mayor
02/24/2025Mayor Returns Bill
The bill was approved.
02/25/2025Delivered to Register
03/03/2025Register Returns Notice with Ordinance Number
Register returns ordinance number 71975. Effective date is 03/24/2025
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