A new type of PILOT aimed at spurring development in low-income neighborhoods was ushered in Oct. 21. The Economic Development Growth Engine (EDGE) for Memphis and Shelby County approved the first Community Builder PILOT applications, at its October board meeting. Like other PILOTs, the Community Builder is a form of tax abatement. Unlike other PILOTs, Community Builder PILOTs are granted to non-profit and for-profit groups that are "investing in urban revitalization." Community Builder PILOTs...
