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A Class C property tax incentive approved today by City Council will support the cleanup of a contaminated industrial site at 9715 S. Cottage Grove Ave. in the Pullman community.
The $717,000 project, completed by the 97th Street SSA LLC two years ago, involved the environmental remediation of 2.7-acres of land that was previously occupied by an air filtration products manufacturer. The work enabled the 2013 construction of an 18,000-square-foot, $4.8 million office building for the Social Security Administration.
The Class C incentive encourages the cleanup of contaminated industrial, commercial or vacant sites by lowering the assessment rate for 12 years. Total tax savings is estimated at approximately $672,000.
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