Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 4974 Lindell Ave. Redevelopment Area. The project consists of a parking lot in the Central West End neighborhood. The prospective redeveloper proposes constructing a 30-story apartment building. The apartment building will have approximately 293 market rate units, 1,500 square feet of commercial space and 340 parking spaces. The total project costs are estimated at $145 million. This Board Bill will allow ten (10) years of tax abatement (10 years based on 75 percent of the assessed value of the incremental improvements).