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Council committee approves PILOT for Canal Village 3 after residents press repair and tree-canopy concerns
Summary
The Metropolitan and Economic Development Committee voted to approve a payment-in-lieu-of-taxes pilot for Canal Village 3 LP, a proposed affordable-housing development financed in part with low-income housing tax credits under a program described in the meeting as "IC 30 six-three-two-twelve."
The Metropolitan and Economic Development Committee voted to approve a payment-in-lieu-of-taxes pilot for Canal Village 3 LP, a proposed affordable-housing development financed in part with low-income housing tax credits under a program described in the meeting as "IC 30 six-three-two-twelve." The committee approved proposal 184 by voice vote after a developer update and a public-comment period featuring residents who said maintenance and tree-loss issues remain from Canal Village phase 1.
The project developer, Gary Hobbs, identified in the meeting as president and CEO of BWI, told the committee the developer completed many of the promised repairs and committed not to remove trees "unless it's absolutely necessary" for construction; he also said remaining fence work at Canal Village 1 will be finished by September. Hobbs asked the committee for support to approve the PILOT so construction on Canal Village 3 can begin next month.
The nut graf: the committee approved a…
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