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County committee affirms textile-credit eligibility after recent land transfer at Union Bleachery site
Summary
The finance committee approved two resolutions confirming that a recent land transfer did not interrupt property tax incentives or textile tax credits for the Union Bleachery redevelopment; staff said the change affects about 15 acres at the site's entrance and facilitates vertical construction for multifamily housing.
Mr. Felder presented two resolutions asking county council to reaffirm tax-incentive and textile-credit certifications for the Union Bleachery redevelopment project after a recent land transfer. He said the credits and certifications were originally approved in 2022 and that the land transfer was executed to permit an ownership structure that accommodates tax-credit investors and vertical redevelopment.
"The two resolutions fundamentally are asking county council to acknowledge that a recent land transfer from one party to another did not interrupt either of those two incentives that were granted in 2022," Mr. Felder said, adding that the parcel in question is "just over 15 acres" at the entrance to the site and that the first vertical construction will be multifamily housing.
Felder told the committee the county plays a role under state law in certifying textile-credit-eligible sites and that the requested approvals simply put the project into the ownership structure needed to maximize the previously authorized credits. Members asked about the identity of new partners; Felder said the property is being transferred to a related development entity in conjunction with tax-credit investors and other project partners, and he said he would provide more precise investor-location details if needed.
The committee approved both the textile certification resolution and the SSRC joiner resolution by voice votes (each passed, with one recorded opposed on one of the motions).
