Niagara IDA approves tax break for Lockport assisted living complex
The unanimous vote came after the city dropped its opposition to the payment-in-lieu-of-taxes, or PILOT, arrangement for the new owners.
The buyer is
Vincent will pay
The current owners,
The PILOT calls for Vincent to pay
The city will receive 33.1% of the payments, the county 15.4% and the school district 51.5%, according to a chart in Vincent's NCIDA application.
Last month, Mayor
The letter said Vincent sought a PILOT directly from the city on the grounds that it is a tax-exempt, not-for-profit enterprise, but City Assessor
The letter also said the city would lose
The
Despite those complaints, NCIDA attorney
Roman informed NCIDA Executive Director
"After hearing additional information and receiving confirmation that residents would remain in the facility regardless if their financial positions would change, I personally as mayor agree with the PILOT for this project," Gabriele read aloud from Roman's email. "I understand that
Abbott, who spoke against the PILOT at an
"My concern was what would happen to Heritage if it were to continue under the present owner, because it was explained to us they (Vincent) would walk away from the project if they did not get the PILOT," Abbott said.
"At that point, I was not willing to roll the dice to relocate seniors that are still part of our community to I don't know where," Abbott said.
The NCIDA released an email from
Eberhardt added, "Without their PILOT approval we will be unequivocally closing the facility in 2021, resulting in the loss of 45+ jobs."
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