Title
Resolution to Approve a Payment in Lieu of Taxes (PILOT) for 1500 Pauline
Memorandum
1500 Pauline is currently owned by Parkhurst Apartments Limited Dividend Housing Association Limited Partnership, an affiliate of Washtenaw Affordable Housing Corporation, and managed by Avalon Housing. Avalon, or an affiliated ownership entity as required by funding sources, will be acquiring and redeveloping the property and applying for Low Income Housing Tax Credits (LIHTC) from the Michigan State Housing Development Authority (MSHDA).
The property is currently eligible for a PILOT under Chapter 19 of the City’s Code of Ordinances that applies to all affordable housing projects that meet the requirements of the ordinance. Avalon can secure 15 points on the LIHTC application if the City of Ann Arbor adopts a PILOT specifically for this address
Therefore, The Office of Community Development recommends that City Council approve a PILOT for 1500 Pauline.
Staff
Prepared by: Jennifer Hall, Housing Manager
Reviewed by: Mary Jo Callan, Community Development Director, Sumedh Bahl, Community Services Administrator
Body
Whereas, Avalon Housing, or an affiliated ownership entity as required by funding sources, will be acquiring and redeveloping 1500 Pauline, currently owned by Parkhurst Apartments Limited Dividend Housing Association Limited Partnership, an affiliate of Washtenaw Affordable Housing Corporation;
Whereas, Avalon Housing will be applying for Low Income Housing Tax Credits from the Michigan State Housing Development Authority; and
Whereas, The Ann Arbor City Council hereby determines that the Apartments at 1500 Pauline will be qualified for, and should be granted Payment in Lieu of Taxes (PILOT), the exemption from all property taxes, as provided in the State Housing Development Authority Act and pursuant to Chapter 19, Section 1:651 of the Code of the City of Ann Arbor;
RESOLVED, That pursuant to Section 15(a) of the State Housing Development Authority Ac...
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