OTHERAPPROVED

City Approves 20-Year PILOT for Valley Green Apartments

The City of Vassar approved Ordinance 2026-01 establishing a 20‑year payment in lieu of taxes agreement with DeShano Development Corp for the Valley Green Apartments. In lieu of ad valorem taxes, the developer will pay the City an annual service charge equal to 9% of shelter rent while the LIHTC-financed mortgage remains outstanding.

Status
APPROVED
Document date
August 3, 2026
Contract type
OTHER
Vendor
Deshano Development Corp
Agency
City of Vassar · MI

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TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract type
OTHER
Contract term
20 years after completion of rehabilitation, but not longer than the Mortgage Loan remains outstanding and LIHTC restrictions apply
Renewal
Ordinance specifies the PILOT lasts 20 years after rehabilitation completion, not to exceed the mortgage term and LIHTC restriction period; no automatic renewals provided.
Document type
AgendaPacket
Source document
Vassar City Council Agenda Packet 2026-08-03

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Vassar?

Deshano Development Corp was awarded this government contract by City of Vassar, as recorded on August 3, 2026.

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Vassar City Council Agenda Packet 2026-08-03 (AgendaPacket), dated August 3, 2026 from City of Vassar. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Deshano Development Corp hold?

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

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