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EDIC backs transfer and extension for 22‑unit Lenin Lofts redevelopment
Summary
The committee supported transferring the previously approved Lenin Lofts project to a new owner and granting additional time to begin demolition and construction on the 22‑unit redevelopment after the original developer withdrew; the motion passed by voice vote.
The EDIC supported a transfer and time extension for the Lenin Lofts redevelopment, a previously approved 22‑unit apartment project that includes a five‑year Renaissance zone exemption plus an additional five‑year property tax exemption under the TIFF structure.
Jim Gilmore summarized the situation: the project had earlier approvals from the committee, county and schools but the original general partner…
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