If homes don't have a high enough price tag, a municipality could end up losing money. That’s because, under the state’s property tax caps, lower assessed values might not generate enough tax to cover the cost of city services.
City officials say they recognize the need to revitalize Allisonville Road, and the area is a priority as the city creates a framework for the future through its comprehensive plan, which looks as far ahead as 2040.
Hundreds of acres of undeveloped land surround the 35-acre site the popular Swedish home furnishing company selected—land now ripe for new projects. And in other communities, hotels, restaurants, retailers and even tech companies have followed Ikea stores.
The beer management software firm said it would be relocating its offices to the new Four Day Ray Brewing facility on the corner of Lantern Road and North Street. It intends to double its local employment to more than 80 over the next two years.
Mayor Scott Fadness announced Thursday that he would introduce two ordinances next week that would give the city more oversight of any new project near the 116th and 106th Street interchanges of I-69, regardless of whether it meets existing zoning standards.
The telecom giant opened the center—which looks like a section of a retail store—earlier this month, marking the first time it established a presence in any co-working space in the country, officials said.