Rochester News

 

Irondequoit asks termination of Medley Centre PILOT

Irondequoit Supervisor Adam Bello says the town is going ahead with a request to terminate the Payment In Lieu Of Taxes deal on the Medley Centre mall -- despite an 11th hour payment from mall owner Bersin Properties.

 

Bello says he received an email from Bersin in which the company says it paid $390,000 of the $3.9 million it owes to the town and other local governments under the PILOT. The payment was apparently made right at 5:00 p.m.

 

Bello says that payment  is not enough to change his mind about asking the County Of Monroe Industrial Development Agency to terminate the tax abatement deal.

 

Bello says the derelict mall will go back on the tax rolls at full assessment. He says probably the best thing that could happen now is for another developer to take over from Bersin and Managing Partner Scott Congel.

 

The town had already sent COMIDA a letter today asking for termination of the agreement.

 

Under the Payment In Lieu Of Taxes Agreement, Bersin Properties was supposed to make a payment of just under $3.9 million by February 1st. It didn't, although Managing Partner Scott Congel has offered to renegotiate the deal and make partial payment. Last week he filed suit against the Japanese bankers who first agreed to fund his project to rebuild the empty mall, then pulled the plug during the recession. Bersin Properties' email says it's not prepared to pay the remaining $3.5 million while that suit is in process.

 

 

 

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