Title
A RESOLUTION CONCERNING PILOT AGREEMENT FOR ST. PAUL SENIOR LIVING LIMITED PARTNERSHIP/ST. PAUL SENIOR LIVING II LIMITED PARTNERSHIP for the purpose of approving the terms and conditions of a Negotiated Payment in Lieu of Taxes Agreement (PILOT) by and between Prince George's County, Maryland (the "County") and St. Paul Senior Living Limited Partnership/St. Paul Senior Living II Limited Partnership (collectively the "Owner").
Background
This resolution approves the terms and conditions of a Negotiated Payment In Lieu of Taxes ("PILOT") Agreement between Prince George's County and St. Paul Senior Living Limited Partnership/St. Paul Senior Living II Limited Partnership, to own and operate an apartment project containing approximately 223 apartment units to provide quality, affordable rental housing units for low to moderate income elderly residents.