Seneca County IDA sets public hearing dates on two incentives

The Seneca County Industrial Development Agency has scheduled public hearings on two financial incentive packages it proposes to offer two local businesses.

The first will be 10 a.m. Monday, March 18, in the Seneca Falls Municipal Building, 130 Ovid St.

That hearing will consider oral and written comments on the IDA’s proposal to offer Waterloo Container a sales tax exemption and a Payment In Lieu Of Taxes — or PILOT — agreement for the company’s 37,000-square-foot warehouse and bottle packing line facility at 2311 Route 414, Seneca Falls.

The IDA is proposing to acquire a leaseholder interest in the addition and lease it back to the company until the PILOT expires.

A cost versus benefit analysis shows the value of the incentives is $207,050 and the long-term economic benefits of the company expansion and added employment is $32.4 million.

The second hearing will be 10 a.m. Wednesday, March 20, at the Waterloo Village courtroom, 41 W. Main St.

That hearing will consider comments on the IDA’s proposal to provide an exemption from paying sales tax on equipment, materials and supplies, an exemption from paying a mortgage recording tax and a PILOT for Waterloo Downtown Properties LLC, formed by Bob and Donna Stivers.

Finger Lakes Times:
Read More