A new senior living community has officially opened its doors this month, bringing modern amenities and affordable housing options to local seniors. The Virgil Community Center has taken advantage of Payment in Lieu of Taxes (PILOT) program that is helping make the project financially sustainable – while benefiting the wider community.
Under a PILOT program offered by the IDA, instead of paying traditional property taxes the developers agreed to make scheduled payments to the city that are typically lower than standard tax assessments. In exchange, the city receives predictable revenue.
The Virgil Community Center is excited to become a destination hosting farmers markets, wellness activities, among other activities, as well as a restaurant opening soon
