CB-087-2022 AN ACT CONCERNING RIGHT OF FIRST REFUSAL PILOT PRE-AUTHORIZATION for the purpose of creating a Payment In Lieu of Taxes ("PILOT") pre-authorization process for properties purchased under the Right of First Refusal ("ROFR") program. The County enacted the ROFR program in 2013 to further the County's goal of preserving affordable rental housing for low and moderate-income households in targeted area of the County. PILOT assistance that reduces real estate tax obligations will enhance the ability of the County to support the preservation of affordable rental housing through the ROFR program by enabling property owners to commit to long-term rent and income restrictions. - Prince George's County, MD

Meeting: Planning, Housing and Economic Development Committee on 2022-09-21 2:30 PM - Virtual Meeting

Meeting Time: September 21, 2022 at 2:30pm EDT

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Agenda Item

CB-087-2022 AN ACT CONCERNING RIGHT OF FIRST REFUSAL PILOT PRE-AUTHORIZATION for the purpose of creating a Payment In Lieu of Taxes ("PILOT") pre-authorization process for properties purchased under the Right of First Refusal ("ROFR") program. The County enacted the ROFR program in 2013 to further the County's goal of preserving affordable rental housing for low and moderate-income households in targeted area of the County. PILOT assistance that reduces real estate tax obligations will enhance the ability of the County to support the preservation of affordable rental housing through the ROFR program by enabling property owners to commit to long-term rent and income restrictions.