The City Council unanimously (8-0) approved a 15-year PILOT for Meridia Lafayette Village at its meeting Monday night that will nearly halve the developer’s overall property taxes while providing more revenue directly to the city than it might typically get once the project is built out.
Tag Archives: Monroe Street
PILOT would shave about $170k off annual taxes
The City Council on Monday will consider a 15-year Payment In Lieu Of Taxes (PILOT) for Meridia Lafayette Village that would reduce its annual property tax bill by as much as 40 percent.
Continue reading PILOT would shave about $170k off annual taxes
PILOT proposed for Meridia Lafayette Village
The City Council will consider another 15-year Payment In Lieu of Taxes (PILOT), this time for the 115-unit Meridia Lafayette Village. The PILOT would call for an annual payment to the city of about $156,000, or about $1,356 per unit, based on 10 percent the project’s annual gross revenues, according to the ordinance (O-24-12).
Continue reading PILOT proposed for Meridia Lafayette Village
Unanimous approval for Meridia Lafayette Village
The Planning Board last night unanimously approved a preliminary and final site plan for Meridia Lafayette Village, a 115-unit rental project at the former site of the stalled Savoy development.
Continue reading Unanimous approval for Meridia Lafayette Village
Planning Board to hear plan for 115 units
A plan for the former Savoy site downtown is scheduled to be heard by the Planning Board Tuesday night, with five fewer units than originally proposed to the Redevelopment Agency early this year.
Meridia Chateau now will be Lafayette Village
The developer of the proposed 120-unit Meridia Chateau on Main Street will rename the project Lafayette Village, which was suggested by the Redevelopment Agency.
Continue reading Meridia Chateau now will be Lafayette Village
Chagrined by Chateau’s density, lack of retail
The high density, absence of retail space and narrow sidewalks are among the primary concerns with the Meridia Chateau proposal, according to an analysis by the Redevelopment Agency.Continue reading Chagrined by Chateau’s density, lack of retail
120-unit Meridia Chateau proposed at Savoy site
A 120-unit rental complex proposed for the former Savoy site would nearly four times the size of previous plan’s density. The Savoy, which broke ground in 2006 at the corner of Monroe and Main streets but stalled and went into default last year, was to be a 36-unit, two-bedroom condo development.
Continue reading 120-unit Meridia Chateau proposed at Savoy site