Queens Court Apartments sold; minor remodel permit filed, tax-class concerns noted

City staff told the EDA that Queens Court Apartments, a 38-unit, 55-plus complex, changed ownership and has a permit for minor remodeling intended to return units to service.

"They're doing mainly like paint, carpet, and minor updates in there, and they plan to get the units back online as quickly as they can," Josh reported. He said most units had been vacant for several years (he estimated six or seven units were occupied previously) after previous hospital-related ownership changes.

Members discussed implications for property taxes. A state tax classification for low-income apartments (referred to in the meeting as '4D') was cited: if the new owner applies and meets state requirements for that classification, the property’s tax rate could be substantially lower. Josh said the city would not control a state classification decision; the conversation focused on awareness of the potential tax-treatment change rather than any city action.

Josh also provided permit details: the permitted work reviewed was under $100,000 for the official permitable items; additional aesthetic updates such as carpet replacement may exceed the permit value but were not part of the permit total.

Board members said getting units rented will improve tax rolls and local housing availability; staff noted an estimate that returning Queens Court to higher occupancy could add roughly $3.5 million in taxable value to the rolls, though the figure was discussed as an estimate rather than an audited appraisal.

The meeting did not record any formal EDA action on the sale or permit.