City of Lathrup Village Awards Financial Services Contract to Surnow Company (September 2025)
City of Lathrup VillageCity · Lathrup Village, MI- Disclosed value
- Minimum annual service charge of $120,000 increased annually by up to 5% or rate of inflation, whichever is less, or 4.5% of Annual Shelter Rents, whichever is greater
- From resolution
- Approved
- Sep 15, 2025
The 30-second brief
The City of Lathrup Village approved a 15-year payment in lieu of taxes (PILOT) agreement with The Surnow Company for a workforce housing project at 27700 Southfield Road. The sponsor will receive an ad valorem tax exemption in exchange for paying the greater of a $120,000 minimum annual service charge with capped escalations or 4.5% of Annual Shelter Rents and maintaining income-restricted workforce housing units.
Surnow Company holds this financial services contract with City of Lathrup Village.
Term as filed: Fifteen (15) years commencing twelve months after both construction completion and issuance of certificate of occupancy, with up to three (3) additional five (5) year extension options.
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Contract details
- Contract type
- Financial Services
- Amount
- Minimum annual service charge of $120,000 increased annually by up to 5% or rate of inflation, whichever is less, or 4.5% of Annual Shelter Rents, whichever is greater
- Document date
- September 15, 2025
- Term
- Fifteen (15) years commencing twelve months after both construction completion and issuance of certificate of occupancy, with up to three (3) additional five (5) year extension options
- Vendor
- Surnow Company
- Agency
- City of Lathrup Village
- Source document
- city_of_lathrup_village_resolution_2025_18_tax_exe.pdf (Resolution)
Surnow Company's other public contracts
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Questions about this contract
Who was awarded the financial services contract by City of Lathrup Village?
Surnow Company was awarded this financial services contract by City of Lathrup Village, as recorded on September 15, 2025. The contract value is Minimum annual service charge of $120,000 increased annually by up to 5% or rate of inflation, whichever is less, or 4.5% of Annual Shelter Rents, whichever is greater.
How much is the Surnow Company contract with City of Lathrup Village worth?
The Surnow Company contract with City of Lathrup Village is valued at Minimum annual service charge of $120,000 increased annually by up to 5% or rate of inflation, whichever is less, or 4.5% of Annual Shelter Rents, whichever is greater, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a resolution record.
Where was this contract approved?
This contract appears in city_of_lathrup_village_resolution_2025_18_tax_exe.pdf (Resolution), dated September 15, 2025 from City of Lathrup Village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Surnow Company hold?
Surnow Company 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 Lathrup Village currently buying?
Explore City of Lathrup Village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.