After a brief pause to come up with an alternate solution- officials in Geneva have agreed to new terms of a controversial PILOT for lakefront development.
According to the Finger Lakes Times, the Geneva IDA has approved a revised tax deal with Lake’s Edge Seneca developers, clearing way for one of the most significant overhauls of lakefront property in recent memory.
The major change was a reduction of approximately $1 million in the tax abatement portion of the package.
The total development is expected to cost $25 million.
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