CLEAR LAKE — The Clear Lake City Council tonight will consider setting the schedule to approve an urban revitalization plan for a new single-family residential subdivision along South Shore Drive.
The city recently approved rezoning a seven-and-a-half acre parcel at 2605 South Shore Drive from low-density single-family residential to medium-density single-family residential, allowing the developer AKK Investment Properties of Webster City to construct twin homes or duplexes as well as single-family dwellings on the land.
Under the terms of the proposed plan, qualifying residential development would be eligible to receive a partial property tax abatement on the first $75,000 of assessed value for a period of five years. City Administrator Scott Flory says in a memo to the council that using the current consolidated tax rate, that would equate to about $1200 annually for the five-year period.
The council is being asked tonight to set February 6th for the public hearing on the plan as well considering the first of three readings at that meeting.
The council meets tonight at 6 o’clock at City Hall.