Board forwards 126 W. International Speedway grant for city commission review

The Downtown Redevelopment Board voted to forward an application for commercial improvement incentive funding for the second floor at 126 West International Speedway (ISB) to the City Commission.

Staff presented an application from property owner and applicant Adam Reinsey, who was not at the meeting, requesting funding through the board’s 0% interest commercial improvement incentive program for interior and exterior renovations to the second floor and plumbing and finishes intended for office use. Staff said the property is in the RDD‑2 zoning district and that an office use is allowed. Staff reported no liens or unpaid taxes on the building.

The item is scheduled for the City Commission on July 16. The board’s recommendation requires a majority vote to advance the application to the commission. Board member Cheryl Cook moved to approve sending the request forward; a board member identified as John seconded the motion. The board voted “aye” and the motion carried.

Staff indicated that additional incentives or improvements to the first floor are planned in a later fiscal year. No occupancy figures for the second floor were provided at the meeting.