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Ann Arbor DDA approves parking agreement to support Fifth Avenue affordable housing project
Summary
The Ann Arbor Downtown Development Authority approved a parking agreement to provide up to 165 off-peak permits at 4th and William to a housing development entity receiving approximately $92,000,000 in low-income housing tax credits; staff said the request came from the project's investor and annual reviews could reduce permits if unused.
The Ann Arbor Downtown Development Authority on May 6 approved a parking agreement giving the Fifth Avenue Michigan Limited Dividend Housing Association LLC access to up to 165 off-peak parking permits at the 4th and William parking structure for up to 15 years to support a new affordable-housing development.
Board materials describe Fifth Avenue Michigan Limited Dividend…
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