Belmont Select Board Minutes 2026-03-23
PILOT Agreement Continued for Sherman Gardens Redevelopment
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Description
The Belmont Select Board approved the continuation of the PILOT agreement required for the Sherman Gardens redevelopment, partnering with Cambridge Housing Authority, enabling $78 million in investment through LIHTC.
Contract Details
Contract Amount
Approximately $78 million (project cost)
Vendor
CAMBRIDGE HOUSING AUTHORITY
Agency
Town of Belmont, MA
Contract Type
OTHER
Document Date
March 23, 2026
Contract Term
Long-term ground lease; ground lease duration unspecified
Renewal Info
Existing PILOT agreement continued; duration aligns with ground lease and LIHTC structure.
More from CAMBRIDGE HOUSING AUTHORITY
Related Contracts
Wellesley Housing Authority Board Meeting Minutes 2026-04-16
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PENDINGWellesley Housing Authority Board Meeting Minutes 2026-02-26
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ONGOINGTown of Needham Select Board Meeting Agenda February 2026
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