The I-Square project which was widely celebrated when it was announced last year has gotten tangled up in “negotiations” over local tax deals. Mike & Wendy Nolan want to invest $13 million to build a 7-building project including a new street, sidewalks and outdoor stage / “town square” area. They say they need a 25 PILOT agreement in order to be able to afford to build and maintain the project they’ve proposed. The Town of Irondequoit have offered a 10 year PILOT. Both sides seem to have dug in their heals. Today the Nolan’s posted a video on YouTube to explain (in detail) their 25 Year PILOT proposal “so that any questions can be answered and any misconceptions cleared up.” Watch the video…
Posts Tagged ‘PILOT (Payment In Lieu Of Taxes)’...
What the Hell is a PILOT and Why Does I-Square Need One to Take Off?
Sunday, October 21st, 2012Tags: Cooper Road, development, development plans, Irondequoit, Irondequoit Square, Mike Nolan, movie, PILOT (Payment In Lieu Of Taxes), Rochester NY, Titus Avenue, Town of Irondequoit, video, Wendy Nolan
Posted in Rochester News, Urban Development | 4 Comments »
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