City Commissioners approved two ordinances Tuesday to annex two County properties totaling 3.869 acres. The City’s annexation approval of .408 acres at 1030 Burlew Blvd. and 3.461 acres at 3509 Fairview Dr. was followed by approval for annexation incentive agreements for both properties.
Both properties fall under unincorporated County territory and are adjoined to the present boundary line of the City.
The Burlew Boulevard property is owned by Professional Properties and Construction, LLC and The Offices Creekside Properties and sits at the corner of Burlew Boulevard and New Hartford Road. It is the site of a newly constructed office building.
The Fairview Drive property is owned by Jed Rentals, LLC and is home to a 30-unit apartment complex referred to as “Mallard Landing.”
Both property owners signed consent forms to proceed with the annexation and will be reimbursed by the City for 100% of the total ad valorem (excluding school tax), net profits and occupational tax revenues derived from the property over a five-year period.
Jed Rentals, LLC will also be granted an additional three-year period under which “the City will reimburse Jed Rentals, LLC one-hundred percent of the total ad valorem (excluding school tax), net profits and occupational tax revenues derived from the 2013 annexation of “Hobo Estates,” a 9.717-acre tract,” the municipal order reads.
In 2013, Jed Rentals’ developer annexed Hobo Estates to the City and was to receive incentives, and this order sets forth the terms and conditions of the development incentive for both properties.
City Manager Nate Pagan said the unanimously approved municipal orders contained “standard” incentive agreements for City-annexed property.