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Pennrose seeks 40-year PILOT for Sanctuary project

City of Hyattsville
Disclosed value
$187 per unit per year, total projected reduction of $29,106 in year one
From agenda
Document date
Jun 16, 2026
Term
40 years
Renews
Free account

The 30-second brief

What it covers

The City of Hyattsville Planning Committee is considering a 40-year Payment in Lieu of Taxes agreement requested by Pennrose for the 77-unit Phase 1 of the Sanctuary at Hyattsville Crossing affordable housing development. The proposed PILOT would set payments at $187 per unit per year, yielding an estimated first-year city tax revenue of $14,362 while providing a $29,106 tax reduction to support project financing.

Who holds it

PENNROSE holds this financial services contract with City of Hyattsville. Its other public contracts on record include work for Housing Authority of the city of Annapolis and Town of Yarmouth.

What happens next

The renewal date is on record. A free account shows it, with the renewals for every City of Hyattsville contract.

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Contract details

Contract type
Financial Services
Amount
$187 per unit per year, total projected reduction of $29,106 in year one
Document date
June 16, 2026
Term
40 years
Renews
Free account
Vendor
PENNROSE
Agency
City of Hyattsville
Source document
City of Hyattsville Planning Committee Agenda 2026-06-16 (Agenda)

PENNROSE's other public contracts

Housing Authority of the city of Annapolis, MarylandPennrose Continues Management At HACA Properties · Sep 30, 2026UndisclosedTown of Yarmouth, MassachusettsCommittee Discusses Pennrose Queen Anne Housing Application · Sep 30, 2026$100KCity of Fayetteville, North CarolinaPennrose Named Housing Lead for Murchison Choice Plan · Sep 27, 2026UndisclosedTown of Lenox, MassachusettsPennrose Report Appears on Agenda · Sep 14, 2026UndisclosedTown of Harwich, MassachusettsHarwich Awards $500,000 Affordable Housing Funding To Pennrose · Sep 14, 2026$500KAll PENNROSE contractsVendor profile

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Questions about this contract

Who was awarded the financial services contract by City of Hyattsville?

PENNROSE was awarded this financial services contract by City of Hyattsville, as recorded on June 16, 2026. The contract value is $187 per unit per year, total projected reduction of $29,106 in year one.

How much is the PENNROSE contract with City of Hyattsville worth?

The PENNROSE contract with City of Hyattsville is valued at $187 per unit per year, total projected reduction of $29,106 in year one, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in City of Hyattsville Planning Committee Agenda 2026-06-16 (Agenda), dated June 16, 2026 from City of Hyattsville. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does PENNROSE hold?

PENNROSE may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Hyattsville currently buying?

Explore City of Hyattsville's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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