The plan for the city to sell Shad Khan's Iguana Investments land for an office building at the ShipyardsThat package is before City Council, with a vote expected next year.
The total investment cost for Iguana’s Investments to develop multiple riverfront parcels is $387.6 million, up from a June estimate of $301 million. The proposed changes would see 75% of those taxes rebated over the next two decades, up to $8.1 million, pushing the total value of the"There is a cumulative benefit to the city and a cumulative increase in the REV grant related to the office parcel, because the office parcel is now paying taxes on the land," DIA CEO Lori Boyer said during the Monday meeting."So, it is increasing the amount of taxes coming into the city and increasing their eligibility for the REV grant.
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