The City of Geneva Industrial Development Agency will hold a public hearing Tuesday on a proposed payment-in-lieu-of-taxes agreement for a South Exchange Street project that would include about 60 residential rental units.
The special meeting is scheduled for 6 p.m. July 7 at Geneva City Hall, 47 Castle St., in the second-floor conference room. The agenda lists one public hearing item: a PILOT agreement for PHP GP Holding LLC.
Project would redevelop South Exchange Street property
According to the public hearing notice, PHP GP Holding LLC has applied for IDA assistance for a project at 595 S. Exchange St. in Geneva. The property is about 0.85 acres and is identified in the notice as tax parcel No. 104.12-2-23.11.
The proposed project includes acquisition of a leasehold or other interest in the property by the agency, along with planning, design, construction and operation of a roughly 71,000-square-foot building.
The building would include about 60 residential rental units, office space and common areas, along with utility and site improvements, parking lots, access and egress work, signage, curbing, landscaping and stormwater retention improvements.
PILOT agreement is under review
The financial assistance under consideration is a partial real property tax abatement through a PILOT agreement. Under that arrangement, the company would make payments in lieu of real property taxes to the agency for the benefit of affected tax jurisdictions.
The hearing notice says the agency is considering the assistance under Article 18-A of New York General Municipal Law.
Public can comment on the proposal
A representative of the agency is expected to present the company's project application, including a cost-benefit analysis, at the hearing.
The notice says the application is also available through the agency's website. The agency also plans to live stream the public hearing and will accept written comments for the public hearing record.
Written comments may be sent to the City of Geneva Industrial Development Agency at City Hall, 47 Castle St., Geneva, NY 14456, Attn: Adam Blowers, or by email to ACBlowers@cityofgenevany.gov.
Next IDA meeting follows Friday
The special meeting agenda lists adjournment after the public hearing. The agency's next meeting is scheduled for 8:30 a.m. July 10.
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