Adrian, MI – A representative of the Management company for the Riverview Terrace Apartment building on College Avenue in Adrian was at the recent City Commission Pre Meeting study session to talk about seeking assistance from the City by using something called a PILOT Program.
Scott Beltz, of Medallion Management, highlighted what a PILOT Program is…and why they are seeking one from the City.
Basically, the six-plus-million-dollar grant they receive from the Michigan Department of Housing and Rural Development to fix the structure has different requirements in terms of the amount of rent Medallion can collect…
Here is Betlz talking with WLEN News after Monday’s meeting…
Beltz also answered questions from WLEN News about the plans going forward to fix the building and to get tenants back in the multi-floor structure…that has been evacuated since last July over structural issues. Tune in to future newscasts for those answers.
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