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Commission hears public comment and approves MBN Properties’ $850,000 rehabilitation for 701 Main Avenue
Summary
MBN Properties received commission approval to rehabilitate the commercial building at 701 Main Avenue with an $850,000 investment that will pursue historic preservation tax credits, after a public hearing and staff presentation.
The commission held a public hearing and then moved to approve an application from MBN Properties to rehabilitate the commercial building at 701 Main Avenue, a landmark downtown site. Staff reported the property’s current assessed value at $954,000 and the applicant’s proposed investment of $850,000, exceeding the program’s minimum threshold and amounting to approximately $69 per square foot as presented in the application materials.
Nicole Crestor…
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