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Talks of a PILOT Agreement Continue with Residents at Woodburn Court 1 Apartments

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Residents at Woodburn Court 1 apartments in Binghamton are expressing their fears of possibly losing their homes. The city of Binghamton is currently in negotiations with the owners of Woodburn Court 1 Apartments over the future of subsidized housing for their elderly disabled residents.

Due to a payment in lieu of taxes,or pilot agreement, Woodburn has provided subsidized housing to elderly disabled residents since 1977. But by October the real estate investor BLVD Capital must reach an agreement on whether or not to keep the subsidized housing.

BLVD Capital has two options; to sell the building to another company that could offer subsidized housing or the apartment could charge tenants market rate -- which many of the tenants say they cannot afford.

Woodburn Court 1 resident Gloria Eailey said, "its a concern because I'm President of the association here and I have heard many of the tenants upset over this and I think it's induced stress that shouldn't have been thrown at them."

Pat Luke, owner of Woodburn Court 1 said, "Residents are very sensitive because this is home. they love this place, It's where they lived for anywhere from a couple of months to 30 plus years."

Luke also says the goal is to make a deal as soon as possible. July 2016 is when the property would lose its subsidized housing contract.

Tomorrow he will join the Mayor, the Assessor and the Director of Economic Development for a meeting at City Hall to further discuss the future of the PILOT agreement. That meeting will take place at 9 a-m.