Geneva’s Industrial Development Agency (IDA) is expected to vote on a $3.6 million tax break today for the developer of the Trinity Episcopal Church.
Trinity Church Inn LLC- headed by developer Mark McGoarty- is planning an almost $9.9 million renovation of three structures at 520 S. Main St in Geneva, according to Finger Lakes Times. The church would be converted into a hotel, restaurant, and event space.
Trinity Church Inn has requested a $456,00 sales tax exemption, $99,750 for equipment and fixtures, and a $55,000 mortgage-tax-recording exemption. The bulk of the requested tax break comes from a proposed payment-in-lieu-of-taxes agreement that would amount to almost $3.1 million over the course of 15 years.
At the IDA’s public hearing on March 28, a number of South Main Street residents were vocal about their concerns. They previously challenged the project in court, though the court ruled in favor of Trinity.
Trinity’s application outlines a number of potential benefits of the project, including the creation of 15-20 part-time jobs and 4-5 management positions.
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