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Terre Haute council approves 15-year PILOT for 120-unit Wabash Place affordable complex
Summary
The Terre Haute City Council approved Resolution 20 20 25 to authorize a 15-year payment-in-lieu-of-taxes (PILOT) agreement for Wabash Place Apartments, a 120-unit development set to serve households at or below 60% of area median income; developers committed to 40 years of affordability via an extended-use restriction.
The Terre Haute City Council approved Resolution 20 20 25 on July 23, 2025, authorizing a 15-year payment-in-lieu-of-taxes (PILOT) agreement for Wabash Place Apartments, a proposed 120-unit affordable housing development on about five acres near Margaret and South First Street.
Marissa, a project representative, told the council the development will include one-, two- and three-bedroom units for households earning up to 60% of the area median income, and that rents will be capped at about 30% of a tenant's income. "We are locked in to keeping this property affordable for a minimum of 40 total years," Marissa said, describing the project's commitments tied to Low-Income Housing Tax Credit financing.
The nut of the council’s action is a 15-year PILOT that would begin with the 2027 assessment and increase by 3% annually. According to the…
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