Memphis Developer Renews PILOT Tax Break Application For $12.2 Million Project At Woodlawn Apartments

Friday, May 19, 2017

A Memphis developer is renewing an application for a PILOT tax break for a $12.2 million development at the Woodlawn Apartments.

The application says, "Alco Properties, Inc. and our partners are making a $12.2 million investment in East Chattanooga. We are in the process of preserving 163 units of the limited supply of affordable housing for low-income families in Chattanooga and Hamilton County.

"Bayberry Apartments, formerly known as Woodlawn and Windsor Terrace Apartments, has been serving low-income families for over 40 years and is in need of a major physical renovation. Additionally, in recent years the property has struggled to deal with the broader issues of poverty and violence in East Chattanooga.

"This renovation, in partnership with the city, the county, THDA, and HUD, will add years of life to the buildings, improve the residential units, and will add important services to the community. This project will greatly improve a formerly depressed apartment community and will allow many more low income families to be both well-housed and well-served for years to come.

"We are seeking approval of a PILOT to freeze property taxes at their current level and to remove the Low Income Housing Tax Credit (LIHTC) subsidy from the property tax calculation during the 15-year credit period that corresponds with the proposed 15 year term of the PILOT. This PILOT is an integral piece of the proposed financing plan and will deliver a project that addresses both the critical need for affordable housing and the needs of low income families. Specifically the benefits of the PILOT fall into two categories, security and resident services.

"Increased security at Bayberry will have a meaningful impact on the residents of the property and the broader community. Alco has been working with the Chattanooga Police Department to coordinate increased security at the property for the benefit of the residents and the neighborhood. In addition to the on-duty police services, we have engaged off-duty police officers to provide additional security at critical hours.

"The PILOT is essential for the long-term ability of the property to afford an enhanced police presence. In the same way that we are significantly improving the physical attributes of Bayberry, our goal is to rebuild this apartment community as a safe family environment that residents are proud to live in.

"With a foundation of quality housing and a safe community, Alco wants to create an atmosphere where residents have the opportunity to thrive. The PILOT will allow Bayberry to offer resident services that benefit the children and families that live at Bayberry. Specifically, the property will use the PILOT savings to hire a resident service coordinator to work with and encourage residents of Bayberry to access the many resources available in Chattanooga and Hamilton County through partner organizations. Alco has a strong track record of partnering with local service providers to serve the needs of residents. Tutoring programs, computer classes, and summer programs are typical offerings anticipated for Bayberry. An on-site resident service coordinator offers the ability to help tailor referrals and programs to individual residents."

The application goes before the city's Health, Education and Housing Facility board on Wednesday at noon.

Alco had a similar application last year, but it was withdrawn.



Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: CARLTON, JACOB ALEXANDER  4111 LOST OAKS DR OOLTEWAH, 37363  Age at Arrest: 29 years old Arresting Agency: Collegedale Booked for Previous Charges or Other Reason(s) --- CARTWRIGHT, MARVIN DARRELL  6220 SHALLOWFORD ROAD APT 160 CHATTANOOGA, 37421  Age at Arrest: 34 years old Arresting ... (click for more)

Dean Says Computer Glitch That Caused Letters To Go Out To Some Residents Saying They Owed Money Has Been Fixed

Criminal Court Clerk Vince Dean said a computer glitch that caused some letters to go out to certain residents saying they owed money has been fixed. He said, "Yesterday a local news report was given regarding letters that had been sent out from a vendor that our Delinquent Collections Division uses. A computer glitch resulted in several people receiving letters that stated they ... (click for more)

A Tribute For My Brother – Sgt. Jonathan Gardner, U.S. Army

Seven years ago today, my family and I found out that my brother, Sgt. Jonathan D. Gardner, was seriously injured by a roadside bomb, (explosively formed penetrator - EFP), while on a mission in Kuwait. The EFP went through the bottom of his seat and put a softball size hole in his upper thigh. The doctors said that if the bomb had entered the Humvee an inch to the right, he ... (click for more)

Roy Exum: Our Teacher's Pay Cut

The Hamilton County School Board will hold a “working session” Thursday afternoon as steps continue to formulate the FY2019 budget and it is a frightening process in a badly-broken system. Everybody knows it is equally embarrassing and after watching teachers who “have had enough” go on strikes in Oklahoma, West Virginia and Kentucky this spring, I guarantee you that Tennessee is ... (click for more)

Lady Mustangs Dump Lady Owls, 2-0, On Frost's Two-Run Homer In Seventh Inning

CLEVELAND, Tenn. – After chasing Ooltewah in the District 5-3A softball standings this season, Walker Valley is now the chasee after Wednesday’s 2-0 victory over the Lady Owls on Carissa Frost’s game-winning two-run homer with two out in the seventh inning. “It’s a huge win for us and our program,” Walker Valley coach Lauren Limburg said.   The diminutive Frost, ... (click for more)

Painter's Game-Winning Hit Lifts Red Bank, 6-5

I’m sure you’ve heard the classic line of “It’s not over until it’s over” and also the one about “it’s not over until the fat lady sings.” Take your pick, but either one would have applied as that was certainly the case at the Red Bank softball field Wednesday evening. The Lionettes won the game with the Whitwell Lady Tigers by a final score of 6-5, but it took nine innings ... (click for more)