FRANKLYWNOW - The B.C. IDA Approves Tax Incentives For Skye View Heights Proje

The B.C. IDA Approves Tax Incentives For Skye View Heights Project in Endicott

Two million dollars in tax incentives was approved for a major rental housing project for the Village of Endicott.

The Broome County Industrial Development Agency passed the vote by 6 to 3. The 8.5 million dollar Skye View Heights project will include 56 apartment units for elderly residents 55 and older. The developer says that without the tax incentives he wouldn't have built the project. He also stated that this project will contribute to the commercial sector of Endicott and combat blight.

However some members of the Broome County IDA had concerns.

Broome County IDA Board Member Robert Nielsen Junior said, "When all is said and done, asking state and local taxpayers to put two million dollars into a project that both uses out of state labor and at best will generate five permanent jobs is not a good use of taxpayers money."

Developer Monarco DiFrancelco said "The criteria to move into one of these units is $45,000 annual income per household. If you factor that time 56 it's a substantial amount of money to be spent in the grocery stores, drug stores, the hair dressers.

Officials say that they'd like to start construction on the project as soon as the weather breaks.

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    Wednesday, February 12 2020 6:45 AM EST2020-02-12 11:45:23 GMT
    Wednesday, February 12 2020 6:47 AM EST2020-02-12 11:47:29 GMT
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