Hillsdale Place granted reduced 4% PILOT
City of LansingCity · Lansing, MI- Disclosed value
- 4% of annual shelter rents (estimated $16,630/year initially)
- From agendapacket
- Document date
- Sep 21, 2022
- Term
- 45 years, commencing with tax year 2024
- Renews
- Free account
The 30-second brief
Lansing is advancing a 4% Payment in Lieu of Taxes ordinance with Gryphon Group for the Hillsdale Place affordable housing project. The 45-year agreement would grant a tax exemption in exchange for a 4% service charge on annual shelter rents for 40 units, including 20 supportive housing units, replacing an earlier 10% PILOT to maintain project feasibility.
Gryphon Group holds this financial services contract with City of Lansing. Its other public contracts on record include work for Town of Maxton.
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Contract details
- Contract type
- Financial Services
- Amount
- 4% of annual shelter rents (estimated $16,630/year initially)
- Document date
- September 21, 2022
- Term
- 45 years, commencing with tax year 2024
- Renews
- On record
- Vendor
- Gryphon Group
- Agency
- City of Lansing
- Source document
- Lansing Committee on Development and Planning AgendaPacket 2022-09-21 (AgendaPacket)
Gryphon Group's other public contracts
More City of Lansing contracts
Questions about this contract
Who was awarded the financial services contract by City of Lansing?
Gryphon Group was awarded this financial services contract by City of Lansing, as recorded on September 21, 2022. The contract value is 4% of annual shelter rents (estimated $16,630/year initially).
How much is the Gryphon Group contract with City of Lansing worth?
The Gryphon Group contract with City of Lansing is valued at 4% of annual shelter rents (estimated $16,630/year initially), covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in Lansing Committee on Development and Planning AgendaPacket 2022-09-21 (AgendaPacket), dated September 21, 2022 from City of Lansing. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Gryphon Group hold?
Gryphon Group 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 Lansing currently buying?
Explore City of Lansing's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.