Ordinance 07-22

This ordinance designates the property located at 300 E. Third Street, known as the Leonard’s Home Laundry Building, as an Economic Development Target Area (EDTA). This designation was recommended by the Economic Development Commission and will enable the proposed mixed use of commercial and residential apartments of the rehabilitated historic building upon the property to be eligible for tax abatement. Final approval of the tax abatement for the renovation and construction of the mixed-use retail/commercial space and residential apartments will also require the adoption of an initial and confirming resolution, which must designate this property as an Economic Revitalization Area (ERA), approve the Statement of Benefits, and authorize a period of abatement