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Evansville council approves 30-year PILOT for 264-unit Eastfield Reserve affordable housing project
Summary
The Common Council voted 9-0 to adopt Ordinance G-2025-10, approving a 30-year payment-in-lieu-of-taxes (PILOT) agreement to support Eastfield Reserve, a 264-unit low-income housing tax credit development to serve households at or below 60% AMI.
The Evansville Common Council on April 28 unanimously adopted Ordinance G-2025-10, approving a 30-year payment-in-lieu-of-taxes agreement to support Eastfield Reserve, a proposed 264-unit affordable multifamily development at 3200 North Burkhart Road.
City staff described the proposal as a low-income housing tax credit project that will reserve units for households at 60% of area median income or below and said the PILOT is a development incentive that lets the city negotiate an annual payment schedule to support project financing. "The term of this pilot is for 30 years, and the annual payment starts at $2,000 per year and increases by 3% each year thereafter," staff said when…
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