Springfield City Council approves tax incentives for former YMCA building to aid major…
The City Council, in a reversal of a March vote, has granted tax incentives to the owner of the former YMCA building on Chestnut Street, providing property tax relief in conjunction with renovations of the site for market rate apartments. The vote was 10-3 in favor of the tax incentive to SilverBrick Group LLC. SilverBrick purchased the downtown property for $4.8 million in December, and is planning renovations estimated at $6.2 million at the property located at 122 Chestnut St., officials said.