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Council introduces 25‑year PILOT pilot to support conversions of vacant commercial buildings to affordable housing
Summary
Montgomery County Council members introduced Expedited Bill 2‑25 to authorize a 25‑year payment‑in‑lieu‑of‑taxes (PILOT) pilot for commercial‑to‑housing conversions that include affordability requirements, paired with the county's conversion and workforce housing zoning efforts.
Montgomery County Councilmembers introduced Expedited Bill 2‑25, a proposal to create a 25‑year payment‑in‑lieu‑of‑taxes (PILOT) pilot for conversions of high‑vacancy commercial properties to housing with affordability requirements. Sponsors framed the bill as a tool to make conversions financially feasible and to pair with the recently introduced zoning measures that aim to convert vacant office space…
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