This Morning at the CRC and the IDA

The 8 o'clock meeting of the Columbia County Capital Resource Corporation began this morning with an executive session. When the CRC came out of executive session, it was announced they would take no action today on the real estate deal--the purchase of the old Walmart building--under consideration. Further discussion with Walmart and further negotiation was required.  

When the CRC meeting was adjourned, a meeting of the Columbia County IDA, involving the same cast of characters, was called to order. Among the business of the IDA meeting was a resolution approving the termination of the installment sales agreement with the IDA and the PILOT on the Kaz building on Route 9, just beyond the Hudson city limits in Greenport. Kaz--not the building but the business--has been sold to a company called Helen of Troy, which makes hair dryers and other kinds of salon and spa appliances. The building in Greenport is not part of the sale. Kaz will keep it and continue to try to sell it. In the meantime, the PILOT on the building will terminate at the end of 2010, and the building will go on the tax rolls at full assessment at the beginning of the new year.