FINANCIAL_SERVICESAPPROVED

City of Indianapolis PILOT Agreement TWG 707, LP Jan 2026

Indianapolis PILOT Agreement with TWG 707, LP Approved

Annual PILOT Payment starting at $15,126.00 in 2028, increasing 3% per year through 2042, plus any Supplemental Payments and penalties as applicableMarion CountyTWG 707 LPJanuary 1, 2026

Trusted by teams at

Description

The City of Indianapolis entered into a Payment in Lieu of Taxes Agreement with TWG 707, LP for the 707 North Apartments, requiring escalating annual PILOT payments beginning at $15,126 in 2028 through 2042 in exchange for continued property tax exemption. The agreement also obligates the owner to invest approximately $10 million in the property, provide supportive services, and comply with eviction-impact reduction and tenant protection requirements.

Contract Details

Contract Amount

Annual PILOT Payment starting at $15,126.00 in 2028, increasing 3% per year through 2042, plus any Supplemental Payments and penalties as applicable

Vendor

TWG 707 LP

Agency

Marion County, IN

Contract Type

FINANCIAL_SERVICES

Document Date

January 1, 2026

Contract Term

Payment Period from 2028 through 2042, with obligations tied to Extended Use Agreement of at least forty (40) years and subject to earlier termination or extension per Sections 3.1–3.5

Renewal Date

2042-12-31

Renewal Info

Base Payment Period runs from 2028 through 2042 with annual 3% escalations; the City may in its sole discretion elect to extend the PILOT Agreement prior to expiration of the Payment Period. The agreement automatically terminates if the property is not fully exempt in any year, upon conveyance without qualified assignment, or upon uncured Material Breach, and may be assigned to a qualified successor with City and Controller consent under Section 4.15.