12:08 PM EST Share City lawmakers held a side policy debate on when to budget and allocate award money from the Historic Preservation Trust Fund.
Four City Council committees voted 7-0 this week to advance a $3 million historic preservation grant for Augustine Development Group LLC’s proposed $30 million renovations to Downtown’s Independent Life Building for a final vote.
The Jan. 20 support by the Finance and Rules committees advances Ordinance 2020-0707 to the Council. The legislation includes city-backed financing for Augustine Development subsidiary PEP10 LLC’s plans for a 135-unit apartment development at the historic 19-story tower.
The Neighborhoods, Community Services, Public Health Committee and Safety and Transportation, Energy and Utilities Committees approved the legislation Jan. 19.