City of Hyattsville, MD Article III Payments in Lieu of Taxes

[Adopted 11-22-2017 by HO 2017-06]

§ 108-5 Parkview Manor Apartments payment in lieu of taxes.

A. For Tax Levy Years 2018 (tax period 7-1-2018 to 6-30-2019) through 2033 (tax period 7-1-1933 to 6-30-1934), MHP Parkview Manor LLC shall have a $15,000 abatement of City real property taxes for Parkview Manor Apartments located at 5040 38th Avenue Hyattsville, Maryland; and

B. A minimum of 100% of the rental units at Parkview Manor Apartments, located at 5040 38th Avenue Hyattsville, Maryland, shall be occupied by low or moderate-income households (i.e., households with incomes at or below 60% of the Washington Metropolitan Statistical Area ("WMASA") median income).

C. The City Administrator is authorized to enter into a PILOT Agreement on behalf of the City with MHP Parkview Manor LLC under the provisions of Maryland Code, section 7-506.1 of the Tax Property Article, and to take such actions and execute such documents as are necessary in order to carry out the purposes of this Ordinance.