TO CONFIRM RESOLUTION 21-20 DESIGNATING AN ECONOMIC
REVITALIZATION AREA, APPROVING THE STATEMENT OF BENEFITS, AND
AUTHORIZING AN ABATEMENT PERIOD FOR
REAL PROPERTY IMPROVEMENTS
Re: Property at 1730 S. Walnut Street (Retreat at Switchyard)
(Real America LLC/Retreat at Switchyard, LP, Petitioner)
This resolution confirms Resolution 21-20, which designated two parcels located at 1730 South
Walnut Street as an Economic Revitalization Area ("ERA") for Real America LLC
("Petitioner"). This designation was recommended by the Economic Development Commission
on May 12, 2021, and will enable the proposed affordable housing redevelopment project to be
eligible for tax abatement. The resolution affirms the approval of the Petitioner's Statement of
Benefits, and it authorizes a ten-year period of abatement for real property improvements and
sets the abatement schedule.