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Council to advance Pinery Park pilot so developer can pursue $5.5 million renovation for low‑income elderly housing
Summary
City staff asked the City Council during a Sept. 8 work session to advance an ordinance that would authorize a 1% payment‑in‑lieu‑of‑taxes (PILOT) and a 3% municipal services agreement (MSA) for the Pinery Park apartment complex at 2300 Newstead to enable a developer to pursue a $5.5 million renovation and a Low‑Income Housing Tax Credit application.
City staff asked the City Council during a Sept. 8 work session to advance an ordinance that would authorize a 1% payment‑in‑lieu‑of‑taxes (PILOT) and a 3% municipal services agreement (MSA) for the Pinery Park apartment complex at 2300 Newstead to enable a developer to pursue a $5.5 million renovation and a Low‑Income Housing Tax Credit (LIHTC) application.
The proposal, presented by Nicole (city staff), would fund interior and exterior upgrades at the 1979 complex, replace an existing 20‑unit townhome building with a 37‑unit building and maintain long‑term affordability restrictions tied to HUD and other federal contracts. Nicole told council the property “really does provide a key community resource for the elderly and disabled residents in Wyoming.”
Why this matters: Pinery Park serves a high proportion of low‑income, elderly and disabled residents. Staff said 90% of current residents earn less…
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