Title
Resolution to Approve a Payment in Lieu of Taxes (PILOT) for Ann Arbor Limited Dividend Housing Association Limited Partnership at 2625 Burton Road for Burton Commons Apartments
Memorandum
On July 16, 2007, City Council approved $1,300,000 in AAHTF and HOME funds for Ann Arbor Limited Dividend Housing Association Limited Partnership, a subsidiary of Simpson Housing Solutions to construct 120 units of affordable rental housing at 2625 Burton Road, known as Burton Commons Apartments. All units will be occupied by households at 50% of the Area Median Income or less, with 20 units set-aside as permanent supportive housing in partnership with Michigan Ability Partners and POWER.
Ann Arbor LDHA, LP has received Low Income Housing Tax Credits (LIHTC) from MSHDA. The City currently has a PILOT ordinance (Chapter 19, Section 1:651 of the Code of the City of Ann Arbor) that applies to all affordable housing projects that meet the requirements of the ordinance. Our ordinance technically would include the Burton Commons Apartments. However, MSHDA requires a separate PILOT resolution specific to the project for tax credit projects.
The Office of Community Development recommends that City Council approve a PILOT for Ann Arbor Limited Dividend Housing Association Limited Partnership at Burton Commons Apartments at 2625 Burton Road.
Staff
Prepared by: Jennifer Hall, Housing Program Coordinator
Reviewed by: Mary Jo Callan, Community Development Director
Damon Thompson, Acting Community Services Area Administrator
Body
Whereas, Ann Arbor Limited Dividend Housing Association, a subsidiary of Simpson Housing Solutions has applied for $1,300,000 in AAHTF and HOME funds for the construction of 120 units at Burton Commons Apartments at 2625 Burton Road for a mixture of very low-income and permanent supportive housing units; and
Whereas, The Ann Arbor City Council hereby determines that the Burton Commons Apartments will be qualified for, and...
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