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Chattanooga outlines per-unit PILOT formula to incentivize mixed‑income multifamily
Summary
City of Chattanooga officials described a per-unit payment‑in‑lieu‑of‑taxes (PILOT) program that ties tax abatement to the rent gap for each affordable unit, uses ZIP‑code small‑area FMRs and a multiplier, and locks agreements for 15 years.
Hanukkah Vinderson, director of housing finance for the City of Chattanooga, told the Washington State Senate Housing Committee on Sept. 16 that her office has reworked the city’s payment‑in‑lieu‑of‑taxes (PILOT) tool to calibrate tax abatements on a per‑unit basis to produce mixed‑income development.
Vinderson said the PILOT program deeds property to a local housing facilities board and uses a lease and pilot agreement to govern affordability, clawbacks and compliance; the lease obligates annual pilot payments in lieu of property tax. “What is a pilot? A pilot stands for payment in lieu of taxes,” she said.
The city’s design links the annual abatement to the difference between a market rent and…
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