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Date Posted: Friday, February06, 01:44:pm
Author: CenHudDude
Subject: Re: Tonight’s City Council Workshop Meeting
In reply to: CenHudDud 's message, "Re: Tonight’s City Council Workshop Meeting" on Friday, February06, 01:32:pm

Councilwoman Monteverde: I know that you monitor this message board, so this is for you. I was very interested in Councilwoman Stewart’s suggestion of claw back language in PILOT contracts. The city should include the following claw back in the contracts of any apartment developers being given PILOTs: The developer must seek and obtain an annual rental certificate from the city. Failure to obtain this certificate will result in the PILOT being null and void, and the project will then be fully taxed at its assessed value. This claw back would separate ethical developers of affordable housing from those who are only interested in profits by becoming future slumlords. What say you?

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