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Council approves amended downtown redevelopment plan for 104 East Franklin; owner to invest ~$349,000 with tax abatement
Summary
Council approved a Chapter 353 downtown redevelopment amendment for 104 East Franklin (Jesse James Bank Museum). Old Farm Holdings LLC plans roughly $349,000 in investment; staff said the developer's initial 10-year abatement amounts to about $97,000 and the project advances downtown revitalization.
City staff member Mr. Smith presented an amended development plan and a Chapter 353 (downtown redevelopment) amendment for 104 East Franklin — the Jesse James Bank Museum building. He said owner Old Farm Holdings LLC (the Mathis family) is planning about $349,000 in investment and that the total abatement to the developer would be “just over 97,000.”
Smith told the council the project will yield public benefits including…
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