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Committee approves PILOT for Chrismore Court preservation; developers say funds will support on-site services
Summary
The committee approved a payment-in-lieu-of-taxes (PILOT) for the Chrismore Court preservation project (proposal 185), a 40-unit affordable senior housing development. Developers said the pilot would fund services, staffing and insurance costs; total project cost cited at $13.6 million.
The Metropolitan and Economic Development Committee on July 14 approved a payment-in-lieu-of-taxes (PILOT) for Chrismore Court (proposal 185), a project to preserve 40 affordable units for residents aged 55 and older at incomes no greater than 60% of area median income.
Ashley Miller, principal program manager with the Department of Metropolitan Development, introduced the item and the T and H Investments development team. Jana Hageman, owner of T and H Investments, said the project preserves 34 existing…
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