New Tax Break Plan May Save Endicott Redevelopment Project
A revised tax relief proposal could allow construction on a mixed-use complex in Endicott to get underway this summer.
The Broome County Industrial Development Agency last month reject a payment-in-lieu-of-taxes plan for the project on East Main Street between Grant and Garfield avenues.
Marchuska Development wanted a 22-year tax break package for the planned complex on the site the company acquired in December.
The proposed PILOT was approved by the Endicott village board in a three-to-two vote. But the IDA balked at the plan.
Changes have been made to shorten the agreement to 20 years. It would also provide the village with $180,000 in additional revenue.
Agency executive director Stacey Duncan said it's "still an aggressive" PILOT. The revised proposal will be considered by the Endicott village board. If village trustees approve the new plan, it would be considered at next month's IDA board meeting.
Marchuska Development wants to set up its offices in one building at the East Main Street site. A second building on the parcel would house Marchuska Glass.
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