Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Development Incentives topic
No spam. Unsubscribe anytime.
Trustees conditionally approve Depot Bar redevelopment deal, raising TIF support to $30,000
Summary
The board approved a redevelopment agreement with Depot Bar LLC on condition that TIF and BD incentive amounts be increased from $15,000 to $30,000; approval was contingent on attorney review and recorded as subject to modification.
Trustees discussed a redevelopment agreement for Depot Bar LLC during the March 17 meeting and agreed the agreement must be modified to increase the TIF and BD incentives from $15,000 to $30,000. Trustee Hyde moved to approve the agreement subject to that modification; Trustee Anderson seconded. The motion passed by roll call with three ayes, one abstention and two absences.
President Powers directed that materials on Ordinance 692 and the redevelopment agreement be sent to Attorney Susan Nicholas for review. The approval is therefore conditional: the board recorded its support pending attorney review and the formal modification of the incentive amounts.
