Committee backs tax-exempt pilot for 209 West State Street senior housing
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Summary
The committee unanimously recommended that the full City Council consider a pilot property tax exemption for INHS's 209 West State Street affordable senior housing project under New York State's private housing finance law.
A city committee unanimously voted to recommend that the full City Council consider a property tax exemption and a pilot payment-in-lieu arrangement for an affordable senior housing project at 209 West State Street.
Representatives of INHS presented the project and requested that the city exempt the property from taxes and enter a pilot agreement under Section 577 of the New York State Private Housing Finance Law. The committee moved the item to the full council’s September meeting by unanimous voice vote.
Committee members asked staff whether they expected the project to meet its future commitments; according to the transcript, members received affirmative nods from project representatives. Alderson Saint Perez moved the recommendation and Alderson Matos seconded it. The motion carried unanimously.
The item will appear on the full City Council agenda for final action. Details about the pilot’s term and implementation will be considered as part of the council review.