News-Record.com

GREENSBORO - The City Council approved $1 million in incentives to help locate a new elderly housing community at the former Pilot Life headquarters on High Point Road.

Kisco Senior Living will create 125 new jobs and invest nearly $99 million to renovate three buildings on the property and build garden homes.

The grant will help offset the cost of improving water and sewer infrastructure to the area.

The council approved the incentive 7-1. Councilwoman Mary Rakestraw voted against it.

Councilman Robbie Perkins, who represents the property owner in the sale of the Pilot Life property and has a direct financial interest, was excused from the debate Tuesday night.

"We firmly believe this will make the project viable for Kisco," said Jim Westmoreland, assistant city manager for economic development.

Kisco has senior housing facilities in six states and operates two complexes in Greensboro - Heritage Greens and Abbotswood at Irving Park - with about 470 residents.

The company was considering locations in Cary and Charlotte to expand its North Carolina holdings.

Kisco Vice President Mitchell Brown said the company had a soft spot for the historic High Point Road property.

The only issue impeding the project was the substantial upgrades needed for water and sewer infrastructure, he said.

The $1 million grant will help make the development possible, city leaders said.

Kisco will receive the money over four years, starting in 2012. In order to receive the grant, which comes out of a $10 million pool of economic development bonds, the company must first pay its taxes and meet job creation guidelines.

The company estimates it will hire 125 people with an average salary of $30,600.

The city will annex the property, as part of the deal.

Kisco plans to build 224 independent living units and 72 high care, skilled nursing units.

Council members said they were excited about a new use for the long-vacant property.

"It's a good fit for that area out there," said Councilwoman Trudy Wade.

The incentive request - negotiated by Westmoreland - raised an ethical debate among some council members.

Councilman Mike Barber questioned the way the request was brought to the council.

Perkins represents the land owner, Lincoln Financial Group, and will get a commission if the sale goes through. It was Perkins who introduced the potential buyer to Westmoreland.

Westmoreland brought the issue to the city council in a closed session. Perkins sat out. Some council members first learned about the request, and Perkins' involvement, that evening.

Barber asked that the council be made aware of possible incentive requests, and any council member's involvement, as soon as the issue reaches a city leader's desk. He would like to see council members give written disclosures of financial interests.

Rakestraw said she was not comfortable with the way the incentive request was handled.

"I won't support it only because I just don't like the way this came about," she said.

Contact Amanda Lehmert 373-7075 or amanda.lehmert@news-record.com