To Designate An Economic Revitalization Area, Approve the Statement Of Benefits, And Authorize Periods Of Abatement For Real Property Improvements - Re: Property Located at 1107 West 3rd Street and Identified by the Monroe County Parcel ID Number 53-08-05-200-044.000-009 (Milestone Ventures, LLC, Petitioner)
This resolution designates one parcel owned by Milestone Ventures, LLC, on West 3rd Street 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 a deduction schedule. The resolution also declares the intent of the Council to hold a public hearing on June 27, 2018 to hear public comment on the ERA designation.
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