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Public Hearing - RE: Commissioner Hovis - To Support and Approve Resolution Authorizing a One-Time Eligibility for the Osage Mill Redevelopment Project’s Legal Entity in Gaston County’s Local Investment Grant Program
1. Receive Citizen Comment
2. Adopt Resolution
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STAFF CONTACT
Donny Hicks - Economic Development - 704-825-4046
BUDGET IMPACT
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No Additional County Funds Requested.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
The Osage Mill Redevelopment Project is in downtown Bessemer City and will greatly assist the City’s revitalization efforts by stimulating the local economy and North Carolina General Statute 158-7.1 authorizes a County to allow eligibility of an economic development project in a local investment grant program for the purposes of rehabilitation of existing structures. The City of Bessemer City along with regional partners, including Centralina Council of Governments and the Gaston County EDC has been working on the Osage Mill Redevelopment Project since 2015. The project is projected to restore the historic mill as well as bring 175 apartment units and 30,000 square feet of commercial/retail space. The Project’s $38,600,000 projected investment is set to revive not only downtown Bessemer City, but the community as a whole. At full capacity, the development will bring upwards of 400-500 residents to downtown Bessemer City, an estimated total of 10% increase in total community population.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution and Memorandum from the City of Bessemer City