Clarification: Judy Seil of COMIDA says Medley's owners would be paying $208,702 in property taxes over the next ten years above
what they currently pay to local governments.(Irondequoit, N.Y.) – About 50 residents attended a public hearing on Monroe County’s proposed tax benefit package for Medley Centre. Many had concerns about a developer getting tax breaks, as their own taxes continue to climb.
“The project should pay its fair share of taxes,” said Richard Barone.
“We have to have a level playing field for every hotel in the community, for every retail business, every restaurant and for every resident,” said Bill Maier.
“I have is I got to pay taxes. I got to keep supporting you people. Who's supporting me? Who's going to help me out?” said John Nasarenko.
Mall magnate Scott Congel wants to spend $260 million on a massive expansion of the long-struggling Medley Centre. He wants to transform the mall into a mixed-use development. Plans call for a high-rise hotel, 330 apartments, a movie theater, and new space for retail and restaurants.
The county’s proposed tax breaks are worth about $8.5 million over the next 10 years. The developer would pay $208,702 in property taxes during that time.
“This is something that's available by law. Our competitors are doing it. You sort of need to do it as a savvy businessman in the world today. You have to take advantage of what's available to you under the law,” said Greg Lane, Congel’s attorney.
When asked if the project would continue without the tax breaks, Lane said, “Probably not, especially in today's economic environment. It's a very difficult world out there in terms of access to capital.”
Lane also pointed out that if the project does not go forward, Medley Centre could generate less revenue in the future, especially if it’s demolished.
If the project is successful, the county stands to benefit. Over the next 10 years, there could be $82 million in sales tax revenue, 1,748 construction jobs, and 752 permanent jobs.
The County of Monroe Industrial Development Agency has not voted on the tax incentives. The Town of Irondequoit and East Irondequoit School District are working out their own PILOT (payment in lieu of taxes) agreements with the developer.
Residents say they want to be sure they will also see benefits from the project, and not bear any burden.
“If you continue to raise the taxes, I will be one of the residents forced out of my home,” said Judy Lewis.
“Every time you approve an abatement in the millions of dollars to a developer, the rest of us in the community will continue to pay high taxes,” said Barone.
