Lawrence city commissioners on Tuesday will hold a public hearing and consider tax incentives for First Management Inc. to redevelop the long-vacant downtown Borders building for use as corporate headquarters. A city committee in June voted in favor of one tax break for a project to redevelop the former bookstore building at 700 New Hampshire St., but they voted against a much larger tax incentive that First Management Inc. and owner Doug Compton had requested. The company previously sought a 15-year, 90% Neighborhood Revitalization Area (NRA) rebate on property taxes for the building, and the city’s Public Incentives Review Committee voted to recommend the city commission deny that request. However, in an updated request for the city commission, the project instead seeks a 15-year, 65% NRA rebate.
Source: The Lawrence Times
