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.
Continue reading Gramercy PILOT would shave $100k off tax bill
Three new Payments In Lieu Of Taxes (PILOT) to the city and higher foreclosure registry fees should boost city revenues by some $652,000 in the 2016 budget.
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.
Continue reading Meridia Water’s Edge sells for $29.3 million
City Council last month approved a resolution endorsing the adoption of green building practices for civic, commercial and residential buildings.
City Council approved a resolution toward sustainable land use, endorsing to follow a variety of principles related to land use, transportation, green design, and regional cooperation.
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.
Municipal taxes would rise by about $39 on the average property under a municipal budget introduced by City Council.
Continue reading City Council introduces 2016 municipal budget
The Zoning Board of Adjustment narrowly rejected an application to construct a new two-family home on vacant lot on Newton Street.