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While milestones for demolition and construction of a $250 million redevelopment of the Medley Centre property have not been met, according to Irondequoit Supervisor Mary Joyce D’Aurizio, tax payments have recently been made.
The developer’s next payment in lieu of taxes (PILOT), due Feb. 2, was made late last month.
Developer Scott Congel of Bersin Properties also met early last month with town and Monroe County officials and representatives of the East Irondequoit School District, D’Aurizio said.
“I wanted the county, school district and town sitting at the same table with him to discuss the financing (for the project),” D’Aurizio said. “I think we do understand a little bit better the problems he’s facing.”
Representatives of the town, school district and Monroe County each had to sign off on the PILOT agreement because all those municipalities benefit from property taxes from Medley Centre.
Noting that she’s not an attorney, D’Aurizio added that the PILOT agreement was written when the developer had financing from Nomura Bank, and the agreement includes only a general description of a mixed-use development.
Since the economic downturn, that financing was withdrawn, D’Aurizio said.
The 30-year PILOT had been requested in order to move forward with plans to spend more than $250 million to redevelop the mall and neighboring properties for multiple uses, including a 30-story hotel, apartments, shopping and entertainment venues, restaurants, offices and more.
None of that has yet materialized; the only stores that remain open on the mall property are Sears, Macy’s and Target.
In addition to the recent PILOT payment, the developer also owed more than $212,000 in special district taxes, including fire and sewer district taxes to Monroe County. That amount was also collected earlier this month, according to Judy Seil, director of the County of Monroe Industrial Development Agency, COMIDA, which approved the original PILOT.
It was not the only big money owed by the developer, who did not return calls for comment.
There’s also the matter of a one-time $500,000 payment to the town that was part of the PILOT agreement. That payment has not yet been received.
In addition, Passero Associates, an engineering firm in Rochester that drew up plans for the development and represented the developer at town and county meetings, recently filed a claim for $442,000 it says it is still owed by Congel.
D’Aurizio still predicts “something” will happen on the property, but perhaps not for another year or two.
“He (Congel) will do something ... because so much of his own money is in it,” D’Aurizio said. “But the investor money just isn’t there; commercial lending is tough.”
While milestones for demolition and construction of a $250 million redevelopment of the Medley Centre property have not been met, according to Irondequoit Supervisor Mary Joyce D’Aurizio, tax payments have recently been made.
The developer’s next payment in lieu of taxes (PILOT), due Feb. 2, was made late last month.
Developer Scott Congel of Bersin Properties also met early last month with town and Monroe County officials and representatives of the East Irondequoit School District, D’Aurizio said.
“I wanted the county, school district and town sitting at the same table with him to discuss the financing (for the project),” D’Aurizio said. “I think we do understand a little bit better the problems he’s facing.”
Representatives of the town, school district and Monroe County each had to sign off on the PILOT agreement because all those municipalities benefit from property taxes from Medley Centre.
Noting that she’s not an attorney, D’Aurizio added that the PILOT agreement was written when the developer had financing from Nomura Bank, and the agreement includes only a general description of a mixed-use development.
Since the economic downturn, that financing was withdrawn, D’Aurizio said.
The 30-year PILOT had been requested in order to move forward with plans to spend more than $250 million to redevelop the mall and neighboring properties for multiple uses, including a 30-story hotel, apartments, shopping and entertainment venues, restaurants, offices and more.
None of that has yet materialized; the only stores that remain open on the mall property are Sears, Macy’s and Target.
In addition to the recent PILOT payment, the developer also owed more than $212,000 in special district taxes, including fire and sewer district taxes to Monroe County. That amount was also collected earlier this month, according to Judy Seil, director of the County of Monroe Industrial Development Agency, COMIDA, which approved the original PILOT.
It was not the only big money owed by the developer, who did not return calls for comment.
There’s also the matter of a one-time $500,000 payment to the town that was part of the PILOT agreement. That payment has not yet been received.
In addition, Passero Associates, an engineering firm in Rochester that drew up plans for the development and represented the developer at town and county meetings, recently filed a claim for $442,000 it says it is still owed by Congel.
D’Aurizio still predicts “something” will happen on the property, but perhaps not for another year or two.
“He (Congel) will do something ... because so much of his own money is in it,” D’Aurizio said. “But the investor money just isn’t there; commercial lending is tough.”
