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Council backs 71-unit Finley Street affordable housing pilot; one commissioner abstains
Summary
The council approved a resolution supporting a 71-unit affordable housing pilot at 26 Finley Street, authorizing consideration of a 15-year PILOT agreement; one commissioner abstained to allow neighborhood concerns to be heard.
The Saratoga Springs City Council on Tuesday voted to authorize consideration of a pilot agreement for a proposed 71-unit affordable housing project at 26 Finley Street, moving the project forward while one commissioner abstained.
The resolution supports the Finley Housing Development Fund Corporation’s proposal for a three-story, 71-unit affordable rental building on about 3.63 acres. The council vote authorizes future consideration of a payment-in-lieu-of-taxes (PILOT) agreement for a 15-year term, subject to the formal pilot documents and state approvals.
Council members and presenters described the project as part of a housing continuum that includes shelter, supportive services and permanent affordable housing. City speakers referenced local nonprofit partners, and the mayor’s office noted the project is a housing—not shelter—initiative. The project’s sponsors have applied to the state; the resolution notes that the council will consider a pilot agreement if and when the state HDFC and LLC approvals are finalized.
Commissioner Marshall abstained, saying neighborhood concerns should be given a clear hearing and that an abstention would signal those residents’ need to be heard. The resolution carried on a 4-0-1 vote.
City staff said they expect to return with pilot documents and any necessary contract language once state approvals are secured.
