You really have to look at the big picture. The owner of that building is probably not making any money right now ... so it isn't like they bilked the system. At least that building looks much nicer now than it did before, and will eventually get a tenant to fill it out. And I don't know where the parking for the apartments will be, but Penn Yan will definitely benefit from having old, empty, run down warehouses re-modeled and turned into nicer apartments. I think it's great that PY is trying to develop its downtown and maintain its "small town" culture. Not sure why you have an issue with turning warehouses that are an eyesore and are falling apart into nice apartments ... long-term you have to think that helps the tax base for the village and county and eventually the money "given away" will come back into the pockets of the local government. Not all projects will succeed but without stimulation things will just keep falling apart?
Turning old warehouses into nice new apartments isn't what I have an issue neither is the theory behind these grants and the theory of what these grants will do for the community in the long run. What I have an issue with is the attitude the developers have of wanting/everything subsidized or funded by the government for them! This is getting a little ridiculous because the developer doesn't have enough parking the street should be change to one way to accommodate parking or for it to be hinted at that someone give their property away for less than what they want for it or that some form of government should buy it to make a "community parking lot" for these residents to park in. I know! I have the answer the developers should be given another hand out so they can buy the lot for parking. I'm sure they'll make a lot more advertising off street parking.
Let's say we bend over and make Water St. One way to accommodate parking for the apartments, I'm sure they'll be spots like this /////
where you pull in up to the curb and have to back out into the street. Don't we have a ordinance here in the Village that says no overnight parking on the streets in the winter? Is that law repealed just for this development or does everyone in the town get to park on the street in the winter without getting a ticket?
How much is it projected this property will bring in in property tax? How much will it cost the village, county, or state to redo water street to meet their accommodations for parking?
I have no problem with "high end" apartments coming from a remodeled warehouse. I also understand the purpose of "pilots". I do have a problem with "pilots" being handed out like candy to developers. If the overall picture screams that the development needs help to make it a worthwhile investment than its a good thing.
If the bottom line is they will make money on their investment after 15-20 years then the government grant should suffice. They shouldn't be getting an instant or short trerm profit from the project. Real estate is suppose to be a long term investment.
Mean Gene, how would you feel if a developer wanted to build whatever on the corner where you own property. How would you feel reading the paper that the developer was eying your land for a parking lot but the developer and Industrial Investment "person" (I don't know his title) "couldn't find a financial mechanism to make the purchase work?" Maybe you'd feel pressured into giving away for property for pennies for the good of
community, in the long run.