GLOVERSVILLE - After holding two public hearings where no one from the public spoke, the Common Council unanimously approved a zoning change along South Kingsboro Avenue and a payment-in-lieu-of-taxes agreement for the Kingsborough Apartments.
Mario Albanese wanted to change the zoning to commercial for two of his properties along South Kingsboro Avenue - just north of the properties that recently had their zoning changed. The two vacant pieces of property are on the same side of South Kingsboro Avenue, situated in the wooded areas on each side of a Lexington Center property.
At the January council meeting, city Department of Public Works Director Kevin Jones said to save time, he requested the city Planning Board provide a recommendation. Prior to the meeting, the board recommended the council OK the zoning changes for the two properties.
However, city Attorney Anthony Casale said approval had to be resubmitted to the board because it wasn't recommended by the council.
The council also held a public hearing Tuesday on the terms of a tax agreement regarding the Kingsborough Apartments on South Main Street.
According to a payment-in-lieu-of-taxes agreement, 34 South Main Housing Development Fund Co. holds title to the property for the benefit of Kingsborough Apartments.
The apartments provide residential rental accommodations for people with low incomes. The apartments consist of about 40 residential rental units for individuals and families.
The council is able to exempt the property of a housing project from local and municipal taxes, including school taxes, to the extent of all or a part of the value of the property.
The agreement states the city will exempt the property from local and municipal taxes, other than assessments for local improvements, 100 percent of the value of the property, including both the land and the improvements included in the project.
The tax exemption will take effect on the first tax-status date following the acquisition of the fee title interest by the HDFC and will continue for a period of 30 years. The company will instead make annual PILOTs in the amount of $5,000 on or before Jan. 31.
The agreement also states that if additional units over the established 40 apartments are added or other improvements are made, the PILOT amount will increase on a per unit basis.
According to the agreement, the PILOT payments will cover all local and municipal taxes owed in connection with the property and will be shared by the taxing jurisdictions on the same basis property taxes would be shared if it were fully taxed.