Logan Business Gateway, 701 South Main
68,000-square-foot office building, retail along Main Street and housing on 100 West. The Redevelopment Agency considered a tax increment incentive capped at $2.5 million.
Approved
- Type
- Site plan
- Location
- About 701 South Main Street
- Applicant
- Logan Business Gateway, LLC
- City Council: RDA assistance to Logan Business Gateway, LLC, Resolution 21-16 RDA
- City Council: RDA workshop: Logan Business Gateway incentive, Resolution 21-16 RDA
In brief
Logan Business Gateway, 701 South Main appears on 2 recorded agendas, from the City Council meeting of March 16, 2021 to the City Council meeting of April 6, 2021.
On record, it was approved once.
The most recent decision was approved (4-0) at the City Council meeting of April 6, 2021.
Follow the money and project delivery
Logan Business Gateway, 701 South Main
- Council action
Approved: RDA assistance to Logan Business Gateway, LLC, Resolution 21-16 RDA · Approved minutes Record → · April 6, 2021
- Money in the record
payment: $2.50 million — Tax increment incentive, capped Record → · April 6, 2021
- Signed agreement and payments
Execution and project-level disbursements are not verified by this tracker. They require separate records; meeting approval alone does not establish either.
- Work and operating costs
Check the linked records for completion and recurring operating costs; this tracker does not verify them. Record →
Every hearing and vote
April 6, 2021 · City Council
RDA assistance to Logan Business Gateway, LLC, Resolution 21-16 RDA
Approved · 4-0
Acting as the Redevelopment Agency, the council approved a tax increment incentive of 100 percent of available increment, capped at $2,500,000 (reduced to $2,347,983 if housing is not built within five years), for a 68,000-square-foot office building, retail along Main Street and housing on 100 West at about 701 South Main. Available increment excludes 10 percent for affordable housing and 5 percent for administration. Conditions require building to approved plans and a permanent public riverside trail. Gail Yost asked how much money the agency holds.
March 16, 2021 · City Council
RDA workshop: Logan Business Gateway incentive, Resolution 21-16 RDA
Discussed
The agency heard a proposal to give Logan Business Gateway, LLC 100 percent of available property tax increment, capped at $2.5 million (dropping to $2,347,983 if housing is not built within five years), for a 68,000-square-foot office building, retail buildings and a housing component at about 701 South Main. Conditions include building to approved plans and a permanent public riverside trail. The Economic Development Committee recommended approval. The developer said the upper three floors are fully leased and occupancy is expected in June or July.