Boynton upgrade put at $40 million
Saturday, May 12th, 2007Boynton Beach?A massive redevelopment of the Martin Luther King Jr. Boulevard corridor would cost taxpayers more than $40 million in public subsidies from the city, county and state, according to a report released Friday.
In addition, Intown Partners LLC, the developer negotiating to revitalize the 26-acre segment, also proposes pumping the $35 million the project would generate in tax revenue back into the project and requests the city and county chip in $18 million in infrastructure improvements. Officials have set a deadline of July 3 to hammer out a final contract with the developer.
“I’m ready to bring closure to this, because we’re not helping the community by letting this drag on and on,” said the Rev. Lance Chaney, a Community Redevelopment Agency board member. “The citizens deserve better.”
investment property