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Fayette Housing Authority seeks PILOT forgiveness; Board of Aldermen tables request
Summary
The Fayette Housing Authority asked the Board of Aldermen to forgive outstanding Payments in Lieu of Taxes (PILOT) and waive future PILOTs; the council requested financial reports and voted 6-0 to table the request until more information is provided.
Ann Schnell, speaking for the Fayette Housing Authority, told the Board of Aldermen on Jan. 13 that an apparent agreement from the 1970s establishes PILOT payments at 10% of the authority’s total rental income, less allowable deductible expenses, and asked the city to forgive the outstanding balance and waive future PILOT payments. She also said the authority plans a $1,700,000 project to upgrade electrical wiring, install energy-efficient equipment and add solar panels and noted the authority pays utilities for its properties.
Council members asked for documentation and revenue reports to verify the Housing Authority’s calculation and fiscal condition. Alderman Grafton Cook moved to table the request pending receipt of the financial information; Alderman Patrick Roll seconded. The motion passed 6-0.
The council did not make a decision on forgiveness or future exemption at the meeting; officials said they will review the Housing Authority’s revenue and expense reports before taking further action.
