Cohocton Wind Watch: SCIDA amends projects' tax agreements
Cohocton Wind Watch is a community citizen organization dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life in Cohocton, NY and in surrounding townships. Neighbors committed to public service in order to achieve a reasonable vision for a Finger Lakes region worthy of future generations.


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Tuesday, September 01, 2009

SCIDA amends projects' tax agreements

If SCIDA can increase a PILOT for gas development, why does Industrial Wind get off so CHEAP ?

Bath, N.Y.

The Steuben County Industrial Development Agency amended tax agreements Thursday on a gas pipeline project and a local railroad.

SCIDA Executive Director James Sherron told board members the portion of the Millennium Pipeline in Steuben County has been completed, with only final grading and clean up of the site left to be done.

The pipeline connects Canada to Rockland County with 78 of miles pipeline routed through Genesee, Ontario, Yates, Schuyler, Chemung and Steuben counties.

In Steuben, 0.8 miles of pipeline extend through the southeastern corner, with a compressor plant on Spencer Hill in the town of Corning. Construction and labor costs in Steuben were estimated at $27 million.

Last year, SCIDA approved a payment-in-lieu-of-taxes (PILOTs) agreement for the pipeline project, with payments of $185,000 during each of the next five years.

PILOTs provide tax breaks for major construction projects, reducing initial property taxes, and increasing at intervals until the property is at full taxation.

Under the terms of the PILOT, Millennium will pay $370,000 from the fifth year to the tenth, with payments jumping to $555,000 for the last five years of the 15-year agreement.

SCIDA board members agreed Thursday to extend its sales tax reduction to include the cost of the final clean-up.

Plans call for the pipeline to become operational this fall.

A PILOT agreement with Livonia Avon and Lakeville Rail was also amended to add new property to the line in the town of Campbell.

SCIDA Attorney John Leyden said the property is now owned by Norfolk Southern, which wants to transfer the land lease to LAL. LAL plans to use a building on the lot for storage, Leyden said.

Board members agreed to the transfer, on the condition any new property taxes are paid by LAL, and the value of the property is added to the PILOT agreement.

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