By Patricia A. Scheyer
NKyTribune reporter
The city of Florence recently discussed a program that will essentially make Florence an even better place to live.
The new program is called City of Florence Economic Incentive and Grant Program to Demolish Abandoned and Blighted Real Estate, and it aims to encourage property owners to take down dilapidated buildings, making way for new development and community improvement.
“Our goal is to transform eyesores into opportunities,” said Administration Director/ City Administrator Joshua Hunt. “Through the demolition of abandoned and blighted buildings in our neighborhoods, we can create space for new businesses and housing, addressing our limited greenspace areas left for development. This economic incentive opens doors for increased competitiveness in redevelopment opportunities when engaging with site selectors and attracting new businesses to our community. While redevelopment projects can be costly, this program provides a small portion of financial support needed to make economic deals more viable and attainable.”
Hunt proposed the program at the caucus meeting on this week, and council members liked what he had to say.
To be eligible for the program, an owner has to be just that — an owner of real estate within the city
of Florence who would like to improve their property.
The property can be residential or commercial, but the building to be demolished has to be the main building on the lot. The owners have to submit a written application to the city which would include ownership details, a cost estimate for demolition, and an explanation of how the demolition would align with certain factors in the city. Included in those factors would be the potential to increase future revenue and job growth in Florence, or to significantly reduce blight in the city. Increasing the property tax value would also be a goal.
Once they are approved, property owners can be reimbursed for demolition costs, up to $10,000.
If the demolition should cost more than that amount, the city can offer an additional 50 percent reimbursement, up to $40,000. The hope is that this financial support will encourage more people to take advantage of the program.
“This program, complemented by smart growth initiatives that concentrate on the redevelopment of blighted and abandoned structures, is poised to revitalize specific areas of the town where buildings have survived their useful life expectancy,” said Mayor Julie Metzger Aubuchon. “By demolishing blighted properties and creating space for thoughtful redevelopment, our objective is to enhance property values, stimulate local businesses, and fashion a more appealing and dynamic city for our beloved residents.”
At the next regularly scheduled council meeting, on July 25, there will be a first reading of an ordinance about this subject. There may be more discussion.