Jamestown Square Apartments on the city’s east side will see $5 million in improvements starting in April.
The Washington City Council approved an ordinance at their regular meeting last night which allows for the issuance of tax incentive bonds to pay for the project. The city acted as a conduit for Glick Corporation, the owners of the apartments, to borrow the money at a favorable rate. No city tax money is being used and there is no liability for the city.
The council passed the ordinance on the recommendation of the city’s Economic Development Commission which held a public hearing yesterday on the matter and no public comment was heard.
The council and Mayor Joe Wellman were pleased to see Glick’s commitment to the city…
Ryan Tolle with Glick Corporation explained that almost all of the improvements will be to the interior. Work is expected to begin in April and last about 6 months. If a resident needs to be displaced it would only last around two days and Glick would provide a hotel room and pay for meals during that time. Then, Tolle says, they will return to what in essence would be a new apartment.