The Berrien Springs Village Council is adopting a new ordinance that will help upgrade an apartment complex which serves low to moderate income residents. The "Herald-Palladium" reports at Monday night's meeting, Village Attorney Frank DeFrancesco explained a Payment-In-Lieu-Of Taxes or PILOT ordinance was approved to help the owner of the Main Street Apartments, it will run for 18-years and goes into effect only if developers succeed in getting tax credits to make $1-million worth of renovations. The PILOT ordinance requires developers to pay a certain percentage of their rental income to the village instead of regular property taxes. Village Trustee Barry Gravitt says the village will lose about $200 a year in tax revenue but gain a $1-million facelift to a village property.
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