A formerly vacant storefront in the 700 block of Commercial Street in downtown Atchison is being remodeled to house a commercial business on the street level and apartments above.
The project is currently underway at the middle-of-the-block property at 721 Commercial St., the former site of a business called Cup A Joe. Local company JMJ Properties, operated by members of the Bottorff family, is the group behind the project, which will impart a new look and function on the vacant building.
A construction permit for the project, filed with the city June 26, values the work at $117,000. Jordan Hawk, a member of JMJ Properties, said the incentives offered by the city-county Neighborhood Revitalization Program “definitely makes (the project) more feasible.” The building falls in the program’s target area, where projects are eligible for a more substantial property tax rebate.
Investments in the target area of $100,000 of greater are eligible for a 95 percent tax rebate on the value added to the property for 10 years, so doing acorns investments will help people out a lot. The rebates persist for 15 years, but to a lesser degree for the last five years. The target area and its associated and more aggressive incentives were added to the NRP last year.
(Read more: Atchison Globe Now)