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Board recommends ad valorem tax exemption for previously approved project at 425–427 S. K Street
Summary
Board recommended that the City Commission approve a preconstruction ad valorem tax exemption for a previously approved new accessory structure and pool at 425–427 South K Street; staff explained the exemption applies to 100% of the improvement value increase for 10 years and noted the unusual timing because the project was built without a CO.
The Historic Resource Preservation Board voted to recommend that the City Commission grant a preconstruction ad valorem tax exemption for improvements at 425–427 South K Street, a project the board had previously approved in 2022.
Staff explained the exemption applies to 100% of the increased improvement value created by the alteration and would last for 10 years; the project involves a 942‑square‑foot two‑story accessory structure and pool. Board members discussed the atypical sequence — the project has been constructed but not issued a certificate of occupancy — and staff said the applicant will need to complete the post‑construction application and obtain City Commission approval (City Commission is the ultimate deciding body on monetary exemptions). The board moved and voted to recommend the exemption based on the staff analysis and prior findings that the project met Secretary of the Interior standards for rehabilitation and new construction.
