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Committee approves Gateway Apartments PILOT; staff says 40-year term matches state funding
Summary
The committee authorized PILOT and related agreements for the Gateway Apartments affordable-housing project; staff said the 40-year pilot term aligns with state funding requirements and members requested written lists of nearby pipeline projects and income/bedroom breakdowns.
The Neighborhood Jobs and Housing Committee approved appropriations, a loan agreement and a payment-in-lieu-of-taxes (PILOT) agreement for the Gateway Apartments affordable housing project and heard questions about the PILOT term and unit mix.
Council members expressed general support for the project’s investment in…
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