Special Regular Session
The Cambridge City Council will hold a special regular session on Tuesday, March 31, 2015 starting at 5:00 pm to discuss a PILOT (payment in lieu of taxes) for renovations at the Housing Authority of Cambridge. This meeting is open to the public.
Following this meeting, Council will hold a public work session on the budget.
http://www.choosecambridge.com/
A special session will address two of the older low-income housing projects from the 1960-1970s era. Both of these are run by a local entity called the Cambridge Housing Authority (CHA) and they are funded through HUD. CHA tried to raise money (original estimate $9M, now $21M) for renovations from HUD and perhaps other federal gov't entities but without success. CHA has found some private investors to help them with the renovation funding.
CHA will be asking City Council to assist in providing tax relief and forgiveness. CHA is supposed to pay the city about $15,000 per year in lieu of the $175,000 annual property tax due to the city and county. CHA has not paid the PILOT (Payment In Lieu Of Taxes) for several years.
Without assistance, CHA could face foreclosure.
On Tuesday, March 31st, at 5:00 PM, there will be a meeting in Council Chambers to discuss this issue. The tax paying public is welcome. Many residents of the CHA managed dwellings are expected to attend.
comments? send them to mc900@comcast.net
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