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Frankfort approves PILOT agreement for Capital Plaza Hotel
Summary
The Board approved a payment-in-lieu-of-taxes (PILOT) agreement for the Capital Plaza Hotel by unanimous roll-call vote; the minutes record the motion and vote but do not include the financial terms of the agreement.
The Board voted Jan. 26 to approve a PILOT (payment-in-lieu-of-taxes) agreement for the Capital Plaza Hotel. Commissioner Rob Richardson moved the motion and Commissioner Katima Smith-Willis seconded; the roll-call vote recorded approval by Commissioners Richardson, Unger, May, Smith-Willis and Mayor Wilkerson (5–0).
The minutes record the Board’s approval but do not include the PILOT’s financial terms, duration or fiscal impact. Those details were not specified in the meeting minutes and will require consultation of the contract documents or City staff for further information.
Next steps: Staff will execute the agreement per the Board’s authorization. The City Clerk or City Attorney’s office typically records PILOT terms in the executed agreement and related fiscal documents.
