River City proposes Payment In Lieu of Taxes incentives for two developments.
They would add 90 beds downtown near UTC.
A company called Walk 2 Campus Properties wants to turn the old Women's Center at 615 Houston and the Frances Willard House at 615 Lindsey into apartments.
They'd go for $475 to $625 per month.
Walk 2 Campus would put more than 3 point 8 million dollars into the projects.
Kim White\River City Company, "The City will continue to get the tax..same taxes it's getting today so if this developer is unable to get the PILOT program to make ti work financially on the one on McCallie say for example, that's the very difficult one, it will stay there just like it is and you'll still get exactly what you're getting today. "
River City's Kim White says the projects would pay off as more people live and spend money downtown.
If approved the goal is to have the apartments ready by next August.
