Monday, October 14, 2013

Week Ahead: COMIDA considers tax deal for Penfield apartment project

Posted By on Mon, Oct 14, 2013 at 9:53 AM

The board of the Monroe County Industrial Development Agency will take up tax exemptions for a couple of large projects when it meets at noon on Tuesday in the Watts Building conference room, 49 South Fitzhugh Street.

Southpoint Cove, a proposed 358-unit apartment complex in Penfield, is seeking sales and mortgage tax exemptions. The $54 million project would be located on Empire Boulevard, overlooking Irondequoit Bay. A COMIDA analysis says that the exemptions would be worth approximately $2.2 million. The analysis also says that the project will create the equivalent of nine full-time jobs.

A public hearing on the Southpoint Cove application will be held at 10 a.m. on Tuesday at Penfield Town Hall, 3100 Atlantic Avenue.

And LiDestri Foods is seeking property, mortgage, and sales tax incentives worth approximately $2.6 million to expand its operation at Eastman Business Park.

The company is buying an additional 397,600 square foot building in the park, which will be used to store “finished goods” and to free up space for manufacturing in its other Eastman Business Park buildings. A COMIDA analysis says that the $12 million project will create the equivalent of 60 full-time jobs.

A public hearing on the LiDestri application was held this morning. Jeremy Moule

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