The troubled Highland and Holland Garden Apartment complex in Amsterdam that I wrote about here is about to be sold. Liberty Affordable Housing Inc., with a listed address as P.O. Box 549, Rome, New York 13442, is asking the City of Amsterdam for a 35 year payment in lieu of taxes.
Fourth Ward Alderman Dave Dybas has been less than honest with the public when he stated to Recorder reporter Jarrett Carroll;
“It’s truly, at least to my thinking, not a pilot.”
I don’t know that many people would agree with his thinking, since the document states that Liberty is asking for a 35 year PILOT. For that matter, the public should be able to read and make their own assessment of the facts and proposal submitted by Liberty.
The proposed PILOT agreement submitted by Liberty to the City of Amsterdam can be found here.
The current assessed value of both sections of the complex is $2, 409,800, it pays $182,036 annually in taxes, excluding water use fees. The proposed agreement sets a base sum to be submitted to the City each year with a 2% increase annually. The proposed agreement is for a 100% exemption from City, School, County and State taxes for a 35 year period. It assures that the current assessment of the property will not be raised for 35 years, even if improvements are completed. It also assures that sewer use fees will remain the same for 35 years.
The agreement states that 109 of the apartments will be restricted Section 8 families and the rest restricted to low-income tenants described as those with incomes not to exceed 60% of the area median income.
I am not sure how the City can negotiate for the Greater Amsterdam School District, Montgomery County or the State as they are all separate taxing authorities or if accepting the PILOT agreement the City will be liable to pay the apartment complex’s share of those taxes.
I guess we will find out on May 8th, when the Common Council meets to discuss this PILOT agreement. Let your Aldermen know how you feel about this 35 year PILOT agreement. Amsterdam Common Council phone numbers can be found here. Email addresses as follows:
Mayor Ann Thane – email@example.com
1st Ward Alderman Joe Isabel – firstname.lastname@example.org
2nd Ward Alderman Valerie Beekman – email@example.com
3rd Ward Alderman Gina DeRossi – firstname.lastname@example.org
4th Ward Alderman Dave Dybas – email@example.com
5th Ward Alderman Richard Leggiero – firstname.lastname@example.org