The City Council unanimously (8-0) approved a 15-year PILOT for Meridia Lafayette Village at its meeting Monday night that will nearly halve the developer’s overall property taxes while providing more revenue directly to the city than it might typically get once the project is built out.
Tag Archives: Main Street
PILOT would shave about $170k off annual taxes
The City Council on Monday will consider a 15-year Payment In Lieu Of Taxes (PILOT) for Meridia Lafayette Village that would reduce its annual property tax bill by as much as 40 percent.
Continue reading PILOT would shave about $170k off annual taxes
PILOT proposed for Meridia Lafayette Village
The City Council will consider another 15-year Payment In Lieu of Taxes (PILOT), this time for the 115-unit Meridia Lafayette Village. The PILOT would call for an annual payment to the city of about $156,000, or about $1,356 per unit, based on 10 percent the project’s annual gross revenues, according to the ordinance (O-24-12).
Continue reading PILOT proposed for Meridia Lafayette Village
Downtown wine shop/liquor store still in works
A five-year-old plan for a wine/liquor shop in the former Robinson’s building downtown is still in the works but may end up in an adjacent location.
Continue reading Downtown wine shop/liquor store still in works
Unanimous approval for Meridia Lafayette Village
The Planning Board last night unanimously approved a preliminary and final site plan for Meridia Lafayette Village, a 115-unit rental project at the former site of the stalled Savoy development.
Continue reading Unanimous approval for Meridia Lafayette Village
Planning Board to hear plan for 115 units
A plan for the former Savoy site downtown is scheduled to be heard by the Planning Board Tuesday night, with five fewer units than originally proposed to the Redevelopment Agency early this year.
City considers review of redevelopment plans
The city may consider reviewing and updating the nearly 15-year-old redevelopment plan that set the tone for the downtown construction over the past several years.
Continue reading City considers review of redevelopment plans
Former Westbury site back on track?
The owner of several Main Street parcels that had been envisioned years ago as a retail/residential development with a parking deck is interested in adding a neighboring parcel as it restarts efforts on the site.