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Council approves two PILOT agreements to renovate and preserve affordable housing
Summary
The Bloomington Common Council adopted two payment-in-lieu-of-taxes (PILOT) agreements with the Jean B. Glick Company to fund renovations at Henderson Court (151 units) and Cambridge Square (153 units). Both require long-term affordability and shift tax revenue to a city affordable housing fund.
The Bloomington Common Council on June 4 approved two PILOT (payment in lieu of taxes) agreements aimed at renovating and preserving a total of about 304 affordable units in the city.
Council approved Ordinance 2025-22 for Henderson Court, a 151-unit property at 2475 S. Winslow Court, and Ordinance 2025-21 for Cambridge Square, a 153-unit community serving residents 62 and older or those who are differently abled. Under the proposed agreements the developer would pay a fixed share of property tax liability to the city rather than the full statutory tax; the pilot payments are set at 45% of current tax liability with a 3%…
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