Resolution 17-30

This resolution designates one parcel owned by Union Development at Bloomington GP, LLC on N. Crescent Road as an Economic Revitalization Area (ERA). This designation was recommended by the Economic Development Commission and will enable the proposed residential redevelopment project to be eligible for tax abatement. The resolution also authorizes a ten-year period of abatement for real property improvements and sets its deduction schedule. The resolution also declares the intent of the Council to hold a public hearing on September 19, 2017 to hear public comment on the ERA designation. Note: This resolution was amended by Am 01 on September 6, 2017. Am 01 corrected the building number and configuration in the fifth "Whereas" clause of the resolution and deleted the assertion that the property has experienced a cessation of growth in the last "Whereas" clause and replaced it with a finding that the property is characterized by environmental conditions which have impaired values and prevented normal development of the property.