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Grafton council approves 13-year tax abatement for MAK Construction apartment project
Summary
The Grafton City Council approved a 13-year, 100% Payment in Lieu of Taxes (PILOT) for MAK Construction to build two 36-unit apartment buildings at 1020 West 9th Street, a project estimated to reduce local tax receipts by about $62,000 per year.
Mayor Chris West announced the Grafton City Council unanimously approved a 13-year Payment in Lieu of Taxes for MAK Construction to build two 36-unit apartment buildings at 1020 West 9th Street. The roll-call vote was 7–0 with Council member Donavon McMillian absent.
The project will include 72 units and garages, mixing efficiency, one-, two- and three-bedroom units. Mayor West said Walsh County approved the PILOT last week and the city-level abatement request would be for 100 percent of taxes on the property for 13 years, which the council estimated would amount to roughly $62,000 in forgone local property tax revenue annually. "The rent will be at market rate, which is $795 for an efficiency to $1,595 for a 3 bedroom," the council recorded.
Final construction bids were due the week following the meeting, and project backers told the council they hope to have infrastructure in place for a winter build. Supporters said the project will add market-rate rental housing in Grafton; no speaker at the hearing requested a modification to the abatement terms.
The council approved the motion after a roll-call vote; Mayor West declared the motion carried. The next procedural steps are the completion of final bids and permitting before construction begins.
