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Council approves 30‑year tax‑exempt PILOT for INHS senior housing at 209 West State St.
Summary
The council unanimously approved a 30‑year pilot agreement to exempt property taxes for INHS’s proposed affordable senior housing at 209 West State Street under state law for affordable housing pilots.
The Common Council approved a resolution authorizing a 30‑year payment‑in‑lieu‑of‑taxes (PILOT) pilot agreement for Ithaca Neighborhood Housing Services’ (INHS) proposed affordable senior housing project at 209 West State Street. The resolution states the project qualifies for a pilot pursuant to Section 577 of New York State’s (cited in the meeting as the state’s housing finance law) procedures for affordable housing; the council approved the pilot by roll‑call vote that carried 9–2.
Aldersperson Letterman summarized the request as a standard PILOT for an affordable housing sponsor seeking tax‑exempt status under state authority. When asked, staff confirmed that after the 30‑year pilot ends, the property would be responsible for property taxes unless a renewed agreement is negotiated. The motion carried; councilors Shapiro and Fabrizio voted no. The council did not discuss specific project financing details during the floor vote; committee review had occurred prior to the full‑council action, according to the motion summary.
