Board forgives interest charges on Riverfront parcel to help redevelopment move forward
Riverfront Development LLC asked the board to forgive approximately $6,001.17 in interest (with taxes of $2,385.03 remaining) on Parcel 213 to clear a financing hurdle for a multi‑million-dollar redevelopment; the board approved the request by voice vote.
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Joseph Reeney, attorney for Riverfront Development LLC, told the panel that Parcel 213 has complicated title and cleanup needs tied to a larger redevelopment. He asked the board to forgive interest on older tax liens (leaving the principal outstanding) so the project can proceed and qualify for state cleanup grants.
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