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Committee forwards confirmations for three tax-abatement packages including HRP headquarters and Inwoods rehabilitation

5462232 · March 11, 2025
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Summary

A City committee voted unanimously to send three confirming resolutions on tax abatements to the full council: a seven‑year real property abatement tied to HRP Construction/Blueprint LLC, and two abatements (vacant‑building and mixed‑use) for the Inwoods Building rehabilitation by Penny Hill Properties.

A City committee voted to send three confirming tax‑abatement resolutions to the City Council with favorable recommendations, advancing incentives tied to a new HRP Construction headquarters and to a downtown rehabilitation project.

The resolutions confirm previously adopted designating resolutions and would finalize abatement terms that were presented two weeks earlier, staff told the committee. The HRP related abatement would apply to a parcel recently annexed into the city, and the Inwoods proposals would support rehabilitation of a long‑vacant, mixed‑use building.

The confirmations matter because state law requires separate designating and confirming resolutions for tax abatements, staff said. The measures will return to the full council for final action.

Staff described the HRP project as a seven‑year real‑property tax abatement for an entity called Blueprint LLC related to HRP Construction. HRP is planning a new regional headquarters on land recently annexed to the city. Staff estimated the developer’s total project investment at about $7,300,000, said the expansion would create six new full‑time jobs (with payroll around $500,000) and retain 48 current employees, and presented tax estimates…

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