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Geneva IDA approves tax breaks for DeSales HS conversion

  • / Updated:
  • Staff Report 

The Geneva Industrial Development Agency granted significant tax exemptions to Massa Construction on May 3rd for its project to convert the historic DeSales High School into apartments. The decision, unanimously approved by the IDA Board of Directors, did not include a payment-in-lieu-of-taxes agreement but will see the former school at 90 Pulteney St. transformed into residential units.

During a public hearing prior to the vote, the board reviewed a cost-benefit analysis showing that the $141,729 in tax exemptions is expected to yield $1.3 million in benefits, including increased payroll, property tax revenue, and utility usage. This translates to a $9 benefit for every $1 in exemptions, according to the MRB Group analysis.

Finger Lakes Partners (Billboard)

The project, spearheaded by Nick Massa, a Geneva company and former student of DeSales, is set to begin in August and conclude by May 2025. The conversion, estimated at $5.4 million, will create 17 market-rate apartments while preserving the school gymnasium for community use.