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Medley Centre saga has a new twist

Irondequoit, N.Y. -- Late Thursday afternoon, Medley Centre's owners said they wired a check to COMIDA to satisfy part of a $3.8 million PILOT payment on the mall project due May 1. 

Bersin Properties, owned by developer Scott Congel, was required to pay $3.8 million dollars to the town, the East Irondequoit Central School District and the County of Monroe Industrial Development Agency (COMIDA) by end of business day Thursday. 

The money is from missed payments earlier this year, and penalties for not meeting investment requirements.

In an email, Medley's partners said they made the principal payment of $392,000 but aren't prepared to pay the rest.

The developer blames its lender for delaying the project and payments that can be made.

Earlier this week, mall owners announced they were suing a Japanese bank for backing out of a promise to finance the mall project and leaving the country.

In an email, Bersin Properties said it cannot make the full payment but doesn't expect this to result in the termination of tax breaks.

But is this enough to satisfy the agreement and to stop the threat by COMIDA that tax breaks would be terminated?

Irondequoit Town Supervisor Adam Bello said this payment will not change anything. He is still revoking the PILOT based on the fact the base payment wasn't the amount agreed upon. 

In a letter obtained by 13WHAM News from Bello to COMIDA, Bello wrote: "If payment is not received... I hereby exercise the Town of Irondequoit's rights... and insist that COMIDA terminate the PILOT."

READ FULL LETTER FROM BELLO HERE.

Monroe County Executive Maggie Brooks released a statement about the developer not complying with the deadline.

"At the eleventh hour this evening, the developer of Medley Centre announced he has made a partial and incomplete payment that amounts to roughly ten percent of his total obligation owed to local taxpayers. The developer has had many weeks and even months to make his payments in full and move the project forward, yet he has decided not to and had put the project in jeopardy. As promised, Monroe County and COMIDA will move forward tomorrow to hold the developer accountable for all monies owed under the PILOT agreement."

 
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Washington Times