A major housing project in Geneva is one step closer to tax incentives, while another just secured them, according to the Finger Lakes Times.
The city’s Industrial Development Agency advanced a PILOT plan for the proposed Litheo Flats, a $30 million, 64-unit development on South Exchange Street. Officials still need a public hearing before final approval, and one member voted no over missing financial details.
Meanwhile, developers converting the former DeSales High School into 17 apartments received a PILOT after rising costs forced a late request. The tax break lowers payments over 15 years, with full taxes kicking in afterward.
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