Tag Archives: PILOT

RABs eyed for Main & Monroe project

Redevelopment officials and developers have agreed in principle on the use of Redevelopment Area Bonds (RABs) but are still working out details on the financing tool that would be part of 208-unit downtown project that includes extending Monroe Street.

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City Council approves Gramercy 20-year PILOT

Without comment from the public or its members, City Council on Monday night unanimously adopted a 20-year Payment In Lieu Of Taxes (PILOT) for The Gramercy.

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Gramercy PILOT would shave $100k off tax bill

A proposed PILOT for The Gramercy would stipulate an annual fee of $78,000, about twice as much as the properties currently generate in taxes but about $100,000 less than what the completed project might pay.

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Meridia Water’s Edge sells for $29.3 million

Meridia Water’s Edge, a 108-unit rental building that began leasing two years ago, has sold for$29.328 million, or about $271,556 per unit.
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30-year PILOT considered for The Gramercy

The developer of a 43-unit East Cherry Street project has requested a 30-year Payment In Lieu Of Taxes (PILOT) to be considered by City Council.

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The Gramercy project moving forward

A 5-story, 45-unit project on East Cherry Street is moving ahead, including property transfers, a redevelopment agreement and discussions on a Payment In Lieu Of Taxes (PILOT).

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