[CPEO-BIF] "Payment in Lieu of Taxes Increment Financing focusing on brownfield development,” Batavia, New York

[Lenny Siegel <lsiegel@cpeo.org>]

Batavia Council approves pact for economic development fund

By Mike Pettinella
Buffalo News (NY)
December 15, 2015

BATAVIA – The City Council approved a financial partnership with four  
other local taxing entities on Monday, setting in motion a unique  
opportunity to revitalize an economically distressed area of the  
community, City Manager Jason R. Molino said.

“This is the first of its kind in the state of New York – PILOT  
(Payment in Lieu of Taxes) Increment Financing focusing on brownfield  
development,” Molino said. “We’re pretty excited about it.”

The Council passed a resolution authorizing the city to enter into an  
agreement with Genesee County, the Batavia City School District, the  
Genesee County Economic Development Center and the Batavia  
Development Corp. that would place 50 percent of new PILOTs generated  
by redevelopment projects in the 366-acre Batavia Opportunity Area  
into a dedicated fund.

...

For the entire article, see
http://www.buffalonews.com/city-region/batavia/batavia-council- 
approves-pact-for-economic-development-fund-20151215

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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