Giving Superior room to grow is the goal behind a series of measures approved Tuesday, June 1, by the City Council.
Councilors approved establishing the boundaries for two new tax increment districts that will allow the city to pay for incentives and infrastructure to develop additional land within the city. They also approved a blight declaration to aid in redeveloping one of the districts.
The first tax district is north of Belknap Street in the Winter Street Industrial Park and establishes areas for commercial and industrial development. Redevelopment is expected to generate $19 million in new value that will generate about $6.9 million in revenue to cover the estimated $2 million in incentives and infrastructure improvement over the next 20 years.
The city is already working with a developer, P&R Properties, on a proposal to build 120 market-rate, one- and two-bedroom studio apartments on the north end of vacant land north of 28th Street on the west side of Bardon Avenue. Construction could get underway this summer with completion anticipated late next year.
P&R Properties is the developer that constructed the Village Apartments in the village of Superior, and Onyx of Superior, 320 North and Central Flats in the city.
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PREVIOUSLY:
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Superior considers special tax districts to spur development Tax increment would provide money for incentives and infrastructure improvements in industrial sites.
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Superior small business grants dry up for 2021 Small businesses have invested more than $1 million in small businesses with the help of city funding.
The blight declaration allows the city to create a blight elimination district under the guidance of the city’s Redevelopment Authority. The council also approved transferring the property at North 28th Street and Bardon Avenue to the Redevelopment Authority.
The redevelopment measures passed without discussion.
The council also approved three small business grants, depleting available funding for the year.
The grants will help employees of Serenity Spa & Salon purchase the business at 1705 Tower Ave., allow Black Fox Studio Salon make improvements at 1408 Tower Ave. and provide Roydan Rentals LLC remodel a building at 2207-2209 E. Fifth St. after purchasing the commercial property that will serve as a mental health clinic.
“I think this has done quite a bit of good in the community,” Mayor Jim Paine said after advising councilors that this was the last of the money and the year is only half over. “While we’ve discussed some ways of tightening up the grant … I hope to be able to propose sort of a booster for 2021 with anticipation of you funding the program with even more money next year.”
