Tomorrow the Housing, Urban Development and Zoning Committee of the Board of Aldermen will consider Board Bills 199 and 200, which pertain to Paul J. McKee Jr.’s Northside Regeneration project’s tax increment financing request. The committee meeting starts at 10:00 a.m. in Room 208 at City Hall.
One of the bills, Board Bill 199, contains an amendment to the original 2009 redevelopment plan for the project. The amendment contains the following revision to the original plan
The redevelopment agreement shall include: (a) a list identifying any buildings that Developer owns and which Developer proposes for demolition, and, if such demolition is approved by the City, Developer’s agreement to demolish such buildings no later than December 31, 2016; and (b) a list identifying any buildings that Developer owns and
which Developer proposes for rehabilitation, and Developer’s agreement to weather-secure such buildings to preserve them for future rehabilitation by Developer or others.
So: demolition has a target completion date, while stabilization of historic buildings identified for historic renovations does not. How can the city enforce the second provision of this agreement without a deadline?