The Metropolitan Development and Housing Agency (MDHA) was authorized to negotiate and accept payments in lieu of ad valorem taxes for a multi-family housing project at 876 W Trinity Lane known as Northview. The project will include approximately 254 units restricted to individuals and families earning 60% or less of the AMI utilizing income averaging. The PILOT agreement was submitted to the Metropolitan Council for approval and is part of the federally sponsored low-income housing tax credit program to increase affordable housing supply.
This decision is important as it facilitates the creation of affordable housing units, addressing the housing needs of low-income families in Davidson County. The PILOT agreement provides financial incentives for constructing affordable housing, positively impacting the local housing supply.