Council approves PILOT and $2.5 million trust-fund commitment for Hermann Apartments
The council approved a payment-in-lieu-of-taxes agreement and committed $2.5 million from the county Housing Investment Trust Fund to support the 145-unit Hermann Apartments affordable housing project; staff said the project's total development cost is about $51.9 million.
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Prince George's County adopted a PILOT agreement and committed $2.5 million in Housing Investment Trust Fund monies to support the Hermann Apartments, a 145-unit affordable rental project for low- and moderate-income households.
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