The Rome City Commission is expected to decide Monday night on creating a tax allocation district covering the former Kmart property on Hicks Drive.
A public hearing and decision also is scheduled for a rezoning at 104 E. Third St. to allow two apartments to be installed.
Commissioners caucus at 5 p.m. and start their business meeting at 6:30 p.m. in City Hall, 601 Broad St. Both sessions are public.
If the TAD is approved, Rome-based Ledbetter Properties will get started on its plan to redevelop the vacant space at the East Bend Retail Center. The tract consists of three separate parcels totaling 19.7 acres and is currently valued at $3.77 million.
Under a TAD, the base value of a property is frozen for a specified number of years. In this case, likely 20. As the parcel is built out, the tax due on the improvements is funneled back into the project.
The Rome Redevelopment Agency is recommending approval. During a RRDA discussion earlier this month, City Manager Sammy Rich said the Ledbetters already have several retail tenants lined up that would be new to the Rome market.
Sales tax revenue from the planned East Bend Retail Center is estimated at $17.8 million over 20 years, according to the city’s consultants, Bleakley Advisory Group.
During the public hearing, commissioners will consider J.P. Selle’s request for Urban Mixed Use zoning on a 0.33-acre parcel at 104 E. Third St. that is currently zoned for Community Commercial use.
The Rome-Floyd Planning commission unanimously recommended approval of Selle’s plans for offices and two apartments. Planning Director Artagus Newell said the UMU classification would allow the flexibility needed for the project.
During the caucus, the board is slated to hear a presentation on tourism from the Georgia’s Rome Office of Tourism executive director, Lisa Smith, and communications director Kristi Kent.
Also on the board’s regular agenda are several proclamations, for Georgia Cities Week, Georgia Garden Week and Fair Housing Month.
As part of Rome’s celebration of Georgia Cities Week, an open house is scheduled for Tuesday between 1:30 and 3:30 p.m. at the newly renovated Carnegie Building next to City Hall.
Wednesday Transit Customer Appreciation Day, with free fares on all bus routes and a free hot dog at the Midtown Transit Station between 11 a.m. and 1 p.m.