Pinnacle North tax break on tap

What happens next with the ambitious Pinnacle North lakefront development could come down to a vote Thursday night.

For the last several weeks, members of City Council have considering an amended payment in lieu of taxes, or PILOT, agreement that the developer of the residential and commercial project said is critical in completing its next four phases.

Councilmembers, who appear split on the issue, are expected to formally vote on the request Thursday, setting off similar actions with the two other taxing jurisdictions, the Canandaigua school district and Ontario County, both of which also have to sign off on the amendment.

Canandaigua Lakefront LLC, which owns the development and includes principals from developers Morgan Management and LeChase Construction, is seeking to fix the assessment per residential unit for the first, second and third phases of the project at the current assessment per unit, grown at 1 percent a year for the remainder of the 25-year agreement.

Also, the group wants to fix the assessment of the fifth phase, which is planned as a commercial project, at $2.5 million in the year it is completed.

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