Developer Tom Niemann has his eye on a piece of Golden Belt, and he wants the city to cut his taxes. The City Council is going to talk about it tonight.
Niemann has applied for local historic landmark status for a portion of the old factory complex currently owned by Julio Cordoba. If the council grants the designation, tax value of the 7.1-acre site drops from $2.14 million to $1.07 million, cutting its annual property taxes to the city and county by about $13,000.
According to the application, Niemann has an agreement with Cordoba to buy the building, which abuts the Golden Belt complex owned and renovated by Scientific Properties. His intention is to redevelop it for market-rate apartments and some commercial use.
Cordoba bought the Golden Belt Complex II in 2002 for $369,000. Current tenants include The Scrap Exchange, Liberty Arts and ReUse Warehouse.
Niemann is a former partner with Brian Davis and Christian Laettner in Blue Devil Ventures in West Village, the mixed-use redevelopment at the former Liggett & Myers cigarette factory. The partnership dissolved in 2006. Currently, Niemann is in a partnership to renovate an R.J. Reynolds Tobacco complex in Winston-Salem.


