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Committee approves redevelopment plan and 10-year abatement for property at 5105 Cabany Avenue
Summary
Board Bill 55, approving a redevelopment plan and 10-year tax abatement for 5105 Cabany Avenue in the Academy/Sherman Park neighborhood, was advanced with a due-pass recommendation. Staff noted the rehabilitation application predated the May 16 tornado and the project is under the $1 million threshold for the scorecard requirement.
The committee advanced Board Bill 55 out of committee with a due-pass recommendation. The measure approves a redevelopment plan dated Jan. 28, 2025, for the property at 5105 Cabany Avenue and grants a 10-year tax abatement based on 75% of the assessed value of the incremental improvement, as read into the record.
Alderwoman Charmaine Clark Hubbard, sponsor of the bill, said the property is in the…
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