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Committee approves 10-year tax exemption for Linnan Lofts redevelopment at 2020 Sixth Avenue North
Summary
The EDIC approved a 10-year property tax exemption tied to a Renaissance Zone incentive for Linnan Lofts LLC to redevelop two blighted buildings at 2020 Sixth Avenue North into a 22-unit apartment building; city staff and a PFM analyst presented financial analysis, and the committee approved the exemption by voice vote.
The Economic Development Incentives Committee voted to approve a property tax exemption covering years 6–10 for a redevelopment at 2020 Sixth Avenue North, a proposal from Linnan Lofts LLC to replace two blighted buildings with a 22-unit apartment building.
City economic development staff presented the application, saying the site contains a boarded single-family building and a six-unit apartment that suffered an upper-floor fire about four years ago and has been vacant. The developer is also pursuing a five‑year Renaissance Zone exemption that would run immediately; the committee-approved action would add a second five‑year exemption covering years 6 through 10 after the Renaissance Zone period ends.
Jim Gilmore, city staff, said the TIF request…
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