Shoreline MFTE Contract for Alta North City Apartments | Town of Shorter | NORTH CITY APARTMENTS OWNER LP

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

12-year multifamily property tax exemption; estimated exemption period 2026–2037 after final certificate issuance

Renewal date

2037-12-31

Renewal

MFTE contract provides a 12‑year exemption term tied to affordability requirements; upon expiration, improvements return to full taxation and affordability restrictions end unless otherwise extended under a new agreement.

Document type

Agenda

Source document

shoreline-city-council-regular-meeting-agenda-april-28-2025_716.pdf

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city_council_regular_meeting_agenda.pdf

APPROVED

Town of Shorter, AlabamaJan 1, 2026

city_council_regular_meeting_agenda.pdf

APPROVED

Town of Shorter, AlabamaJan 1, 2026

town-of-shorter-agenda-2025-06-02_743.pdf

APPROVED

Town of Shorter, AlabamaJun 2, 2025

shoreline_city_council_regular_meeting_agenda_apri.pdf

APPROVED

Town of Shorter, AlabamaApr 28, 2025

shoreline-city-council-agenda-alta-north-city-apartments-mfte-approval-april-28-2025_c2c.md

PENDING

Town of Shorter, AlabamaEstimated tax savings between $1,300,000 and $2,400,000 in City taxes and $8,800,000 to $16,100,000 from all taxing districts over 12 yearsApr 28, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Shorter?

North City Apartments Owner Lp was awarded this financial services contract by Town of Shorter, as recorded on April 28, 2025.

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 shoreline-city-council-regular-meeting-agenda-april-28-2025_716.pdf (Agenda), dated April 28, 2025 from Town of Shorter. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does North City Apartments Owner Lp hold?

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