City of Somerville header
File #: 199297    Version: 1
Type: Resolution Status: Approved
File created: 5/26/2015 In control: City Council
On agenda: 5/28/2015 Final action: 10/11/2018
Enactment date: 5/28/2015 Enactment #: 199297
Title: That the Administration implement a PILOT program to promote partnerships with major local non-profit institutions for fair-value voluntary PILOTs.
Sponsors: Katjana Ballantyne

  Agenda Text

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That the Administration implement a PILOT program to promote partnerships with major local non-profit institutions for fair-value voluntary PILOTs.

 

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Official Text

That the Administration implement a PILOT program to promote regular open communication and partnership between the city and major, local non-profit institutions, so that the city might  establish the criteria for participation by institutions, calculate the fair value for city services provided to tax-exempt property owners, assess the value of exempt properties and lost tax revenues and evaluate credits for community partnership and economic benefits provided by the institutions, so that a fair value for voluntary PILOTs may be suggested and negotiated.