Tax break approved to reconstruct Chattanooga's historic Maclellan Building

Maclellan Building in Chattanooga
Maclellan Building in Chattanooga
photo Maclellan Building in Chattanooga

The Hamilton County Commission voted this morning to unanimously approve the highly debated 14-year tax break to reconstruct the historic downtown Maclellan Building.

With the Commission's vote, the Memphis-based developer, Heritage Land and Development Co.will receive a 14 year waiver of taxes (with a four-year phase-in of taxes at the end of that period) to renovate the Maclellan Building on Broad Street that has remained mainly vacant for
10 years.

The developer will pay roughly $1.5 million in property taxes over 14 years, but Hamilton County and the city will waive about $1.3 million over the same period.

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