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Council creates affordable‑housing fund; tables developer's pilot request for Wabash Place until August meeting
Summary
Council established an affordable‑housing fund required by Indiana law to accept PILOT (payment‑in‑lieu‑of‑taxes) proceeds and tabled a developer’s request for a 15‑year pilot for a 120‑unit affordable housing project until its August 7 meeting.
The Terre Haute City Council on July 10 created a municipal affordable‑housing fund required to receive payment‑in‑lieu‑of‑taxes (PILOT) proceeds and tabled a separate developer request for a 15‑year PILOT for a 120‑unit affordable housing development known as Wabash Place.
Michael Wright, city legal/controller staff, told the council the new fund is required by Indiana Code (36‑3‑2‑12) when a unit of government receives pilot payments. “This ordinance takes care of that; it…
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