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Council introduced two PILOT proposals and a restoration tax-abatement endorsement for housing projects
Summary
Council members introduced two PILOT proposals — a $20.3 million Barrett Elementary senior-housing project and an $18.9 million Fairfield worker-housing project — and endorsed a restoration tax-abatement application for 509 Market on Aug. 26.
The Shreveport City Council on Aug. 26 heard introductions for multiple housing-related incentives, including two payment-in-lieu-of-tax (PILOT) proposals and an endorsement of a restoration-tax-abatement application.
City staff said Resolution 104 would apply a PILOT to the former Barrett Elementary School project, a $20,300,000 development to create 74 units of senior housing. Resolution 105 would apply a PILOT to the Fairfield building project, an $18,900,000 development to convert space into 50 units of worker housing. Staff described these as projects the city has discussed previously and said the PILOTs are part of efforts to encourage housing production.
Separately, staff described Resolution 109 as an endorsement for Shreveport REO LLC to participate in the restoration tax abatement program for property commonly called 509 Market; staff said the abatement would reduce property taxes by a little over $46,000 over five years. Staff noted the restoration-abatement item requires additional advertisement and a public hearing and cannot be adopted at the next meeting.
All three items were introduced for later consideration. Council members asked clarifying questions about the projects’ scope and noted publication and hearing requirements for tax-abatement actions.
