The Payment In Lieu Of Taxes (PILOT) for a proposed 196-unit project downtown could mean a tax break of as much as 50 percent in the first year alone and some $17 million versus $34 million over the 30-year life of the program, if certain assumptions are made.
Continue reading 30-Year PILOT could mean 50-percent tax break
The Redevelopment Agency last month awarded a nearly $300,000 contract for environmental consulting services related to the Dornoch II/Slokker redevelopment project at Lot B on Main Street.
Developers are expected to return to the Redevelopment Agency later this year to present an updated vision for two downtown buildings proposed for Lot B on Main Street.
Thousands of tons of soil must be removed and taken to another site in addition to some remediation at the site of a proposed five-story rental complex near Lot B on Main Street.
Continue reading Soil removal next for proposed Lot B project
Monroe Street would stretch across Main Street between two five-story apartment buildings and connect with West Cherry Street in a concept plan presented to the Redevelopment Agency last month.The question seems to be: 100 units or 200 units? City Administrator and Redevelopment Director Peter Pelissier told commissioners at the Oct. 3 Redevelopment Agency meeting that he expects meet early next month with a representative of the owner of Lot B area parcels to discuss the size of any resurgent project — basically whether the plan will be for 100 units or 200 units.
The owner of several Main Street parcels that had been envisioned years ago as a retail/residential development with a parking deck is interested in adding a neighboring parcel as it restarts efforts on the site.