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Mason council approves purchase amendment, backs LIHTC application for Temple Street senior housing
Summary
The Mason City Council unanimously approved a fourth amendment to acquire 5.36 acres on Temple Street for a senior affordable housing development and passed Resolution 2025-40 supporting the project's application for low-income housing tax credits.
At its Sept. 2 meeting, the Mason City Council unanimously approved a fourth amendment to the purchase agreement for the Temple Street property to acquire 5.36 acres for a senior affordable housing development and voted to adopt Resolution 2025-40 supporting the project's application for an allocation under the Low-Income Housing Tax Credit (LIHTC) program administered by the Michigan State Housing Development Authority.
The council approved the Fourth Amendment to the Purchase Agreement for the Temple Street property by a 7-0 vote. Mayor Russell Whipple moved the motion; a council member seconded (second not specified in the record). The council then approved Resolution 2025-40 to support the project's LIHTC application, also 7-0.
City Manager Deborah Stewart told the council the estimated payment-in-lieu-of-taxes (PILOT) revenue is a formula based on tenant incomes and that the figure in the packet is an estimate. “It’s a formula based on the income, so we can just estimate at this time until the incomes are there,” Stewart said. A council member asked whether the packet figure of about $16,855 per year represented the PILOT; Stewart said the city is using that estimate but actual receipts will depend on rents and incomes.
The packet describes the parcel as a total of 5.36 acres and characterizes the project as a senior affordable housing development. The amendment and the resolution were presented together on the agenda; the council discussed the PILOT estimate and staff confirmed that exact revenues will be determined after rents and tenant incomes are established.
No amendments to the purchase agreement or to the resolution were proposed during the meeting. The council approved both items without further public comment.
The council’s actions authorize staff to execute the documents necessary to complete the purchase as described in the amendment and forward the LIHTC support resolution as required for the application process with the Michigan State Housing Development Authority.
Details recorded in the meeting packet and discussed during council questions note the acreage (5.36 acres) and reference an estimated annual PILOT figure included for planning purposes; the precise revenue amount was described as not yet determined and dependent on future income data.
