Kalamazoo, Michigan is set to welcome a transformative new affordable housing project in its vibrant northside neighborhood. In an effort to address the pressing need for affordable housing options, the Kalamazoo City Commissioners have unanimously approved a resolution to implement a “payment in lieu of taxes” (PILOT) program. Through this initiative, a total of 70 residential units catering exclusively to senior citizens aged 55 and older will be constructed, offering a safe and comfortable living environment.
The development will encompass a substantial portion of the city block, spanning from N. Burdick Street to N. Edwards Street on the east and west, and from E. Frank Street to E. North Street on the north and south. Designed with the goal of enhancing affordability, the project targets individuals and families with an average income of 60% or less of the area’s median income, as defined by the U.S. Department of Housing and Urban Development.
Recognizing the gravitas of the affordable housing crisis, the city of Kalamazoo remains steadfast in its commitment to creating viable housing solutions for its residents. By offering affordable living options for senior citizens, this initiative not only addresses their specific needs but also promotes inclusivity and a sense of community within the northside neighborhood.
Frequently Asked Questions
What is a “payment in lieu of taxes” (PILOT) program?
A “payment in lieu of taxes” program allows for tax-exempt entities, such as affordable housing developments, to make voluntary payments to local government authorities instead of paying property taxes. These payments are often used to support public services and infrastructure within the community.
What is the median income?
Median income refers to the midpoint of all household incomes in a specific area. It is calculated by ranking all incomes from highest to lowest and identifying the income that falls exactly in the middle.
How does the U.S. Department of Housing and Urban Development define affordable housing?
Affordable housing, as defined by the U.S. Department of Housing and Urban Development, refers to housing that costs no more than 30% of a household’s gross income. This includes both rent and utilities.
Sources:
– [Kalamazoo City Government website](https://www.kalamazoocity.org/)