The City Council is deferring for a week action on a tax break for a company planning to build student housing near UTC.
Council members said they had only just got some of the details on the PILOT (payment in lieu of taxes).
Kim White of the River City Company said Walk2Campus would be paying the current taxes for 10 years, then go to 20 percent of the assessment the 11th year, then to 40 percent, then 60 percent, then 80 percent before going fully on the tax rolls.
She said 20 percent of the 64 units will be set aside for those with low to moderate incomes. She said that is computed at those making 80 percent of the county median income - $31,000. Those will be one-bedroom efficiency units renting for $750 per month.
Ms. White said, "The trend is toward smaller units. They are going to 'micro units' all over the country. You'll see more and more of this here."
The site is 500 Lindsay St.