Revenue from Payments In Lieu Of Taxes (PILOT) increased last year by 30 percent, about $845,000, and this year’s municipal budget anticipates another increase of 26 percent, or almost $720,000.
Continue reading A closer look at PILOTS in 2024 municipal budget
The 2023 municipal budget anticipates almost $3 million in revenue from Payments In Lieu Of Taxes (PILOT), an increase of almost a half-million dollars.
Payments In Lieu Of Taxes (PILOT) are anticipated to account for $1.385 million in the 2020 municipal budget.
Recent downtown development projects have a mixed bag when it comes to reaching Payments In Lieu Of Taxes (PILOT) levels anticipated in their original financial agreements.
The Mint, a 116-unit rental building at 81 Monroe St., officially opened with a ribbon-cutting ceremony on Friday.
Mayor Raymond Giacobbe, Jr. delivered his first State of the City since winning a full, four-year term in November, announcing a new city administrator, a possible bike share with neighboring towns, and welcoming almost 400 new downtown residential units by the end of the year.
The beginning of a new year seems like an appropriate time as any to look back over the previous year and while we’re at it, update the redevelopment map on the site.
It’s a little late this year but here’s a look the most popular posts during 2018.