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#1431177 --- 01/02/14 09:00 PM
Re: Mayor sells out?
[Re: leeoh]
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Member
Registered: 11/15/13
Posts: 261
Loc: dresden
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This thread is humorous. Why does everyone have to be cynical? Both of these projects are great for Penn Yan in the long term. I think any inter-municipal agreement is great when it leads to this kind of investment. Big question is this, who's paying for it? It better not be the tax payers. If they are truly paying for this project within their tax dollars a problem exists. The developer will pay the village $75,000 a year for 4 years and then $25,000 for each townhouse he builds plus pay for the cleanup, if he backs out then the county must pay for the cleanup and the village then can sell the property to some other developer. The developer will pay the village $75,000 a year for 4 years and $24,000 for each townhouse he builds which will add up to a total of $1,1000,000. The Mayor told the local paper The Chronicle Express that the developer was putting $1,100,000 into the infrastructure which is not true, that sum is what is being paid for the property, The village is spending these payments on infrastructure to benefit the developer along with 10 years of the village's pilot and occupancy taxes plus a $2,000,000 grant\loan that the village taxpayers will pay back in the form of higher electric, water and sewer rates. The cleanup is minor and could of been completed years ago but the county has delayed it for some unknown reason. The village taxpayers were told by the Mayor and the village board that unless the county decided to share sale taxes with the village the village would not take out the $1,000,000 loan and that the Village, Milo, and the County would be responsible for paying back, that also turned out to be a lie that the Mayor has told the taxpayers of Penn Yan.
Edited by helpme (01/02/14 09:10 PM)
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#1431325 --- 01/04/14 04:03 AM
Re: Mayor sells out?
[Re: helpme]
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Member
Registered: 06/24/12
Posts: 234
Loc: Penn Yan
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This thread is humorous. Why does everyone have to be cynical? Both of these projects are great for Penn Yan in the long term. I think any inter-municipal agreement is great when it leads to this kind of investment. Big question is this, who's paying for it? It better not be the tax payers. If they are truly paying for this project within their tax dollars a problem exists. The developer will pay the village $75,000 a year for 4 years and then $25,000 for each townhouse he builds plus pay for the cleanup, if he backs out then the county must pay for the cleanup and the village then can sell the property to some other developer. The developer will pay the village $75,000 a year for 4 years and $24,000 for each townhouse he builds which will add up to a total of $1,1000,000. The Mayor told the local paper The Chronicle Express that the developer was putting $1,100,000 into the infrastructure which is not true, that sum is what is being paid for the property, The village is spending these payments on infrastructure to benefit the developer along with 10 years of the village's pilot and occupancy taxes plus a $2,000,000 grant\loan that the village taxpayers will pay back in the form of higher electric, water and sewer rates. The cleanup is minor and could of been completed years ago but the county has delayed it for some unknown reason. The village taxpayers were told by the Mayor and the village board that unless the county decided to share sale taxes with the village the village would not take out the $1,000,000 loan and that the Village, Milo, and the County would be responsible for paying back, that also turned out to be a lie that the Mayor has told the taxpayers of Penn Yan. It would be so great if people would just read the documentaion and Wake up!
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#1431562 --- 01/06/14 02:14 PM
Re: Mayor sells out?
[Re: j3668py]
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Member
Registered: 10/09/12
Posts: 62
Loc: Finger Lakes
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I'm not really sure what the specifics of the project are, outside of what has been posted on here, but from the sounds of it this is being looked at as a long-term investment. The Village and County taxpayers may be "stuck with the bill" on paper, initially, but you've got to look at the taxes generated by these new houses too. Not only will it provide a new housing option ... if these are retirees coming in, or moving from Village homes, it frees up housing down the line for those that need it (there is a shortage). You also need to look at the trickle-down effect. If these houses are going to be connected to the downtown core, you're looking at 30-40 new families/couples who will be spending locally. This also fails to mention the yearly tax income that will surely go up with 30-40 prime real-estate units right on the lake. So yes, while the Village may have to foot the bill initially, the project should be a long-term net positive.
Also, did I read that the State is pitching in funds too? That's $1,000,000 that the Village doesn't have to come up with to improve the infrastructure ... so that incentive may have finally pushed the local munis to act.
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#1431651 --- 01/06/14 10:00 PM
Re: Mayor sells out?
[Re: FLDukes]
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Member
Registered: 11/15/13
Posts: 141
Loc: dundee
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I'm not really sure what the specifics of the project are, outside of what has been posted on here, but from the sounds of it this is being looked at as a long-term investment. The Village and County taxpayers may be "stuck with the bill" on paper, initially, but you've got to look at the taxes generated by these new houses too. Not only will it provide a new housing option ... if these are retirees coming in, or moving from Village homes, it frees up housing down the line for those that need it (there is a shortage). You also need to look at the trickle-down effect. If these houses are going to be connected to the downtown core, you're looking at 30-40 new families/couples who will be spending locally. This also fails to mention the yearly tax income that will surely go up with 30-40 prime real-estate units right on the lake. So yes, while the Village may have to foot the bill initially, the project should be a long-term net positive.
Also, did I read that the State is pitching in funds too? That's $1,000,000 that the Village doesn't have to come up with to improve the infrastructure ... so that incentive may have finally pushed the local munis to act. Your first sentence tells it all, I'm not really sure what the specifics of the project are and you make very clear that you don't what you're talking about when you claim that 30-40 prime real-estate units will be built right on the lake, they won't be build on the lake they are going to be build on the insect infested outlet next to the marsh. This will only bring higher taxes to the village residents, When is the last time that one of these long term investments lower the taxes, NEVER don't be foolish.
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