[CPEO-BIF] Tax abatement at Ithaca (NY) TCE site

[Lenny Siegel <lsiegel@cpeo.org>]

IDA weighs Axiohm tax break
New owners must clean site

JENNIE DALEY
Ithaca Journal (NY) 
February 4, 2005

ITHACA -- As the Tompkins County Industrial Development Agency considers
an application today from owners of the former Axiohm plant, past
environmental contamination will play a major role in how a potential
tax abatement deal is packaged. The IDA will vote on whether to give the
project 10-year property tax abatements equivalent to about $574,000, as
well as mortgage and sales taxes abatements. 

The $4.2 million, 71-acre property across from the entrance to Ithaca
College on Danby Road was purchased by South Hill Business Campus LLC
for $1.5 million with the intention of developing a site with affordable
rents for startup businesses focused on high-tech and light
manufacturing. 

Developers were able to secure the lower purchase price because of
evidence of past environmental contamination at the plant. 

...

For the entire article, see
http://www.theithacajournal.com/news/stories/20050204/localnews/1952511.html

-- 


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org
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