This resolution authorizes the Metropolitan Development and Housing Agency to negotiate and enter into a Payment In Lieu Of Taxes (PILOT) agreement for a multi-family housing project located at 721 Madison Square, known as Madison Station. It allows the agency to accept payments instead of traditional ad valorem taxes for this development.
A Resolution authorizing the Metropolitan Development and Housing Agency to negotiate and enter into a PILOT Agreement and accept payments in lieu of ad valorem taxes with respect to a multi-family housing project located at 721 Madison Square known as Madison Station.
What it does
- 1Authorization for the Metropolitan Development and Housing Agency to negotiate a PILOT agreement
- 2Acceptance of payments in lieu of ad valorem taxes for the Madison Station multi-family housing project
- 3Application of the PILOT agreement specifically to the property at 721 Madison Square
This resolution authorizes the Metropolitan Development and Housing Agency to negotiate and enter into a Payment In Lieu Of Taxes (PILOT) agreement for a multi-family housing project located at 721 Madison Square, known as Madison Station. It allows the agency to accept payments instead of traditional ad valorem taxes for this development.
Legislative history
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