Ordinance 14-16

This ordinance designates four parcels collectively owned by Elmore Y Orrego LLC and known as 304 W. Kirkwood Street as an Economic Development Target Area(EDTA). This designation was recommended by the Economic Development Commission and will enable the proposed mixed use redevelopment project, whichincludes office, retail and upper-story market-rate residential units and condominiums, to be eligible for tax abatement. Final approval of personal and real estate property tax abatements for the project will also require the adoption of an initial and confirming resolution, which must designate these lots as an Economic Revitalization Area (ERA), approve the statement of benefits, and authorize periods of abatement.