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From YouTube: Monday, June 15, 2020 5:30PM Finance, Assessment and Taxation Committee


The Committee will review Resolution 45.61.20R that authorize the City to enter into a Payment in Lieu of Taxes (“PILOT”)Agreement with 25 Delaware Housing Development Fund Company, Inc., and 25 Delaware, LLC, whereby the applicants will pay to the City ten percent of “shelter rent” – i.e. the amount of rent collected less the cost of utilities – instead of the property taxes that would otherwise be due on the property, for a term of thirty years.