Title
Resolution to Approve a Payment in Lieu of Taxes (PILOT) for Hickory Way Apartments Phase III at 1146 South Maple Road, Ann Arbor, MI 48103
Memorandum
Avalon Housing, or an affiliated entity as required by funding sources, will be acquiring the property at 1146 S. Maple, demolishing the existing structure, building approximately 39 units of affordable housing, and applying for Low Income Housing Tax Credits (LIHTC) from the Michigan State Housing Development Authority (MSHDA). The upcoming project has previously been awarded funds from the Washtenaw Urban County.
The property is currently located in Scio Township, however, following the process from the previous annexation of the adjacent properties where Hickory Way Apartments, Phases I and II now stand, Avalon Housing has applied for annexation of 1146 S. Maple with their application for site plan and zoning as submitted to the City of Ann Arbor;
The property would be 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 points on the LIHTC application if the City of Ann Arbor adopts a PILOT specifically for this address.
Therefore, the Office of Community and Economic Development recommends that the City Council approve a PILOT for Hickory Way Apartments Phase III, to ensure the development of 39 additional units of affordable housing in the City.
Staff
Prepared By: Tara Cohen, OCED Housing and Infrastructure Manager
Reviewed By: Derek Delacourt, Community Services Area Administrator
Approved By: Milton Dohoney Jr., City Administrator
Body
Whereas, Avalon Nonprofit Housing Corporation ("Avalon Housing"), or an affiliated entity as required by funding sources, will be acquiring the property and building approximately 39 units of affordable housing;
Whereas, Avalon Housing has applied for site plan, zoning and annexation with the City of Ann Arbor, and prior to closin...
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