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Committee backs PILOT for Capital Station senior affordable housing rehab
Summary
The committee approved a PILOT under IC 36-3-2-12 to help United Church Homes complete a roughly $7 million rehabilitation of Capital Station Apartments (49 units), preserving Section 8 protections and keeping resident rents stable under HUD rules.
The Metropolitan and Economic Development Committee voted Nov. 17 to approve a payment-in-lieu-of-taxes (PILOT) pilot for Capital Station Apartments, a 49-unit senior affordable property at 7828 Madison Avenue proposed by United Church Homes.
Ashley Miller of the Department of Metropolitan Development introduced the item; Kevin Deacon, vice president of affordable housing preservation for United Church Homes, described the…
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