8th and Pennsylvania project to be considered
City commissioners tonight will consider approving a tax incentive that could make or break a proposed residential and commercial development near the area of Eighth and Pennsylvania streets.
Commissioners will consider a request to establish a Neighborhood Revitalization Act zone for a project proposed by Lawrence developer Bo Harris. The Neighborhood Revitalization Act would allow the developers to receive annual property tax rebates to help pay for infrastructure such as new streets, storm sewers and sidewalks.
A majority of city commissioners have expressed support for the concept, but the zone has not been approved because city staff members and developers have been working out the details. The plan commissioners now are being asked to approve would limit the rebates to a period of 20 years, would not allow the total amount of rebates to exceed the cost of the infrastructure improvements, and would not obligate the city to use any additional city tax dollars on the project.
Harris said if the city does not approve the rebate program, the mixed-used, multimillion-dollar redevelopment project would not be feasible.







