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New proposal for Greece Ridge tax breaks 

If all goes smoothly, the owners of Greece Ridge Mall will get tax abatements for renovating the mall’s former Bon-Ton space.
Today, the county Industrial Development Agency’s board gave provisional approval to a payment in lieu of taxes agreement for the project. Under the 25-year deal, the Wilmorite subsidiary that owns the mall will pay .6 percent more in taxes each year to the Town of Greece and Monroe County. Its payments to the Greece Central School District will increase 2 percent each year. The PILOT would also be up for review after 15 years.
That’s a change from the original proposal, which called for .6 percent yearly increases across the board. Greece school district officials were unhappy with that deal because of the loss of projected tax revenue; the district estimated that it would lose at least $6 million. Because of those concerns, the COMIDA board postponed the vote at that time.
This morning, however, Wilmorite officials submitted a new proposal to the school district and COMIDA. Joe Shields, an attorney for the district, said officials “have some comfort” with the proposal, though some details need to be addressed. The school board will discuss the proposal during its meeting tonight, he said.
If the school board is OK with the proposal, and no significant changes have to be made, then the PILOT will be put in place, said COMIDA attorney Mike Townsend.


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