The ordinance authorizes a partial ad valorem property tax exemption for the rehabilitation of 2728 Herschel Street, a contributing structure in the Riverside-Avondale Historic District. The exemption applies to 100% of the increase in assessed value resulting from qualifying improvements, with a 10-year exemption period beginning January 1, 2025. The rehabilitation work includes a new detached garage, driveway enhancements, window replacement, and structural improvements to maintain historical integrity as per city and state preservation standards.
This exemption encourages the preservation of historic structures, fostering community identity and maintaining Jacksonville’s historical heritage. It also incentivizes private investment in rehabilitation and preservation efforts within designated districts.