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Medley developers fall short on payment
Irondequoit, N.Y. -- At the close of the business day Thursday, town officials in Irondequoit said they did not receive the roughly $3.8 million in tax payments promised by the developers of the Medley Centre.
"We've made the request to COMIDA (County of Monroe Industrial Development Agency) to terminate (the PILOT program)," said Irondequoit Supervisor Adam Bello. "I've spoken to COMIDA as well; they've agreed to act swiftly on that."
But shortly after 5 p.m., COMIDA received notice from the developers stating, "We have paid the base amount ($392,381.22) today. We are not, however, prepared to make a so-called supplemental payment of $3,477,923."
Despite the base payment, Supervisor Bello said it did not change his decision to terminate the PILOT.
"I think paying 10 percent of what's owed today is clearly not enough to satisfy the Town of Irondequoit," said Bello.
Monroe County Executive Maggie Brooks said the county also planned on holding the developers accountable for all money owed. The East Irondequoit Central School District said it would also be making the same request.
"We will be sending a letter to COMIDA requesting that they terminate the PILOT program," said East Irondequoit Deputy Superintendent John Abbott.
Medley Centre developer Bersin Properties, LLC, said it wasn't prepared to pay the supplemental $3.4 million because of a pending lawsuit with its bank.
Town officials said that money is connected to the developer's failure to reach property milestone goals.
"We were crystal clear back in February that what was owed today was roughly $3.8 million, or this pilot is going to be terminated," Bello said. "What was received today was far less than required."