Title
Resolution to Approve a Payment in Lieu of Taxes (PILOT) for Hickory Way Apartments at 1110/1132 S. Maple
Memorandum
Avalon Housing, or an affiliated entity as required by funding sources, will be acquiring the properties at 1110 and 1132 S. Maple, demolishing the existing structures, building approximately 70 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, and is covered by an existing agreement between the Township and the City of Ann Arbor that provides for annexation into the City as part of the development process. The request for annexation has received initial approval by City Council, and has been sent to the State.
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 5 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.
Staff
Prepared By: Teresa Gillotti, Housing and Infrastructure Manager, Office of Community and Economic Development
Reviewed By: Derek Delacourt, Community Services Area Administrator
Andrea Plevek, Director, Office of Community and Economic Development
Approved By: Howard S. Lazarus, City Administrator
Body
Whereas, Avalon Housing, or an affiliated entity as required by funding sources, will be acquiring the property, demolishing the existing structures, and building approximately 70 units of affordable housing;
Whereas, Avalon Housing will be applying for Low Income Housing Tax Credits (LIHTC) from the Michigan State Housing Deve...
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