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Council approves Second and Vine development agreement; developer gives construction update
Summary
The council approved a development agreement for the Second and Vine project (a 3-53 plan) on second reading; developer Joshua Hartley reported progress on exterior work, window replacement and framing of 38-plus apartments and described planned sewer and water connections.
The Booneville City Council on Sept. 15 approved, on second reading, an ordinance adopting a development agreement for the Second and Vine project (the meeting referenced the “3-53 plan and development agreement”). The council voted yes in roll call on the ordinance after attorneys and the developer answered questions from members.
Mark Grama, the attorney assisting with the documents, and developer Joshua Hartley briefed the council on project status. Hartley said exterior work is about 90% complete, noting a new roof, gutters, exterior painting and a completed mural; he said roughly 248 of 250 windows have been replaced and about 10 exterior trims remain. He reported framing of the third-floor apartments is under way and that mechanical, plumbing and electrical work will proceed after framing and sprinkler coordination.
Hartley gave a preliminary unit count and uses: he said the plan calls for 38-plus residential units and a commercial space. He described approximately three studio units, about 20–22 two-bedroom units and roughly 15 one-bedroom units (developer estimates), and said the project includes an indoor parking garage. Hartley said he would welcome community business ideas for the ground-floor commercial space and that he is seeking tenants.
On affordability and rents, Hartley said he hopes two-bedroom units will not exceed about $1,200 per month and that one-bedroom rents would be under $1,000, but he characterized those figures as estimates driven by construction costs.
Council and staff also discussed tax-abatement structure tied to the project. City staff described the arrangement as “10 at the current level and then 15 at 50% of the new value,” language the developer and staff said was consistent with similar projects the city has approved. City staff said they had not received further comments from taxing entities following the public meeting on the project.
Roll call on the ordinance showed all members present voting yes (Davis, Young, Meadows, Cowherd, Harvill, Albert and Venable). The ordinance was listed in the meeting packet on page 53.
Hartley said sewer and water connections remain to be completed; he reported coordination with the city’s water staff and that sewer and water work would begin after the appropriate scheduled inspections and utility coordination.
