City Council approves tax incentives for renovation of 130 Magnolia Street
New owner investing over $500,000 in renovation of historic downtown property
City Council voted 7-0 to approve tax incentives for 130 Magnolia Street to support renovation of the long vacant historic downtown property at their meeting on Monday. The recently acquired building is currently undergoing renovation, with the new owner committed to spending in excess of $500,000 restoring the property. Though no specific tenant has yet been identified, the investment made by the owner is expected to make it easier to lure prospective new business concepts to the location, which lies within the Morgan Square Historic District. The approved special tax assessment will relieve a portion of the additional property tax liability created by the acquisition and historic-standard renovation of the property for five years.
Also at Monday's meeting, Council voted unanimously to amend the city’s animal ordinance to place the burden of deeming an animal "vicious" with the Municipal Court. Previously, city animal control officers would make that determination, taking the animal after notifying the owner. The amendment was designed to provide due process for owners of animals deemed vicious or dangerous, with a court order now being required before an animal can be seized.
For more on Monday's City Council meeting, see the full video below as well as a roundup of our live tweets from the meeting.