|
The PILOT (payment-in-lieu-of-taxes) Program is a financial incentive that is designed to encourage commercial real estate development in and around the Central Business Improvement District by "freezing" property taxes at the predevelopment level for a predetermined period of time.
To be eligible for a PILOT, the value of the building renovations, site improvements or new construction must be equal to or greater than sixty percent (60%) of the total project cost.
The program is administered by the Center City Revenue Finance Corporation through an application and review process. For a copy of the application and general policies of the PILOT Program, download PILOT application or contact the CCC Development Department at 901.575.0540.
|
|
