MOUNT VERNON — Mount Vernon City Council approved a tax abatement during a special legislative meeting Monday evening.
The 15-year, 100 percent tax abatement for the Woodward Opera House building, 103 and 107 S. Main St., is connected to improvements that will soon start in the building, including the renovation of nearly 3,000-square-feet of office space on the second floor.
According to Steve Waers, director of the Area Development Foundation, the improvements, which will also include reinforcement of the flooring on the third floor, are projected to cost $846,000.
Pat Crow, project manager for the Woodward Development Corp., said additional rehearsal space is needed as ThePlace is in high demand.
Mount Vernon City Schools and the Knox County Career Center will continue to receive property tax throughout the abatement period.
Council also passed a resolution to submit an application for a $64,000 Community Development Block Grant.