What: payment-in-lieu-of-tax (PILOT) arrangements through the IDB, including The Bluff Apartments project (Olympus Construction Partners, LLC) and a transaction with Mainstreet Capital Partners, LLC.
Where it stands: City Council amended its earlier recommendation on 2026-10-12 to extend the allowable construction period for The Bluffs from not more than two years to not more than three. The 2026-11-02 IDB agenda lists the Olympus PILOT (IDB resolution approved 2026-05-04; Council resolution approved 2026-10-12; lease agreement attached). The outcome of that item was not read.
Next: IDB meets 2026-12-07.
Details
The 2026-09-08 IDB agenda included a resolution on a PILOT transaction between the IDB and Mainstreet Capital Partners, LLC, with a revised lease attached; the project details were not read.
The 2026-10-05 agenda included authorizing payment of a $4,500 invoice from the board's outside law firm for the 2026 PILOT Policy revision (see IDB Procurement Policy and Investments).
Council approved a resolution amending its recommendation to the IDB on the Bluffs PILOT, extending the allowable construction period from two years to three.