Council scheduled to vote on College Station abatement

Council heard first reading on the redevelopment plan Feb. 21 and is scheduled to hear second reading at its meeting tonight. The plan officially declares the development’s land – bound by Olive Street, Market Avenue, McDaniel Street and Campbell Avenue – blighted and would abate its property taxes for up to 25 years.

The tax abatement would be a source of funding for the construction of College Station’s publicly owned 417-space parking deck.

“Blighted” areas are defined as those that require redevelopment in order to preserve the public peace, prosperity, health, safety, morals and welfare.

In January, council approved a College Station community improvement district that could charge an additional sales tax of up to 1 percent for property upkeep.

College Station is a $15 million to $17 million mixed-use project that will include retail, entertainment and office space.