Monday, May 11, 2020

Tomorrow's IDA Meeting

The Hudson Industrial Development Agency (IDA) meets tomorrow, Tuesday, May 12, at 1:00 p.m. Click here to access the meeting. The redevelopment of 620 Union Street as a 50-room boutique hotel and the application for a PILOT agreement and other benefits for the project will considered at the meeting.
Posted by at

4 comments:

  1. M. MorrisMay 12, 2020 at 8:33 AM

    Why are we considering a PILOT for a commercial development?

    ReplyDelete
    Replies
    1. Carole OsterinkMay 12, 2020 at 9:10 AM

      It's actually pretty standard. It is meant to encourage investment. The Wick Hotel has one. These kinds of PILOTs are usually for only ten years and escalate fairly quickly to 100 percent of property tax.

      Delete
    2. M. MorrisMay 12, 2020 at 9:43 AM

      Thanks for the clarification Carole

      Delete
  2. man bites dogMay 12, 2020 at 10:59 AM

    Except for Galloway who want 40 yrs. Is this the exception to the rule. Speaking of new housing . The old pocket book factory has a new owner, wonder what plan is in the pipe line for that. Not affordable Apts.

    ReplyDelete

Subscribe to: Post Comments (Atom)