The City Council is set to vote tonight on whether it will give a 12-year tax abatement to a 74-room, 12-story apartment complex in downtown Chattanooga.
The development would be put in the old Chattanooga Bank Building on 8th and Market streets, said Kim White, CEO of River City Co.
The tax abatement would save the developer — Ray Moss Inc. — about $150,000 a year.
The complex would also have commercial property on the top two floors and retail property on the first floor, White said. Those businesses would still pay taxes.
For more information, read tomorrow’s of the Times Free Press.