Authorizes the City of Troy, County of Rensselaer, to enter into a PILOT Agreement with T.R.I.P. Redevelopment Associates, granting an exemption from real property taxes.
STATE OF NEW YORK
________________________________________________________________________
7007--A
2023-2024 Regular Sessions
IN SENATE
May 16, 2023
___________
Introduced by Sen. ASHBY -- read twice and ordered printed, and when
printed to be committed to the Committee on Cities 2 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT in relation to permitting the City of Troy to retroactively
extend a real property tax exemption to T.R.I.P. Redevelopment Associ-
ates
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Notwithstanding any other provision of law to the contrary,
2 the City of Troy is hereby authorized to enter into a retroactive
3 Payment-In-Lieu Of Tax Agreement ("PILOT Agreement") with T.R.I.P.
4 Redevelopment Associates, a New York limited partnership and redevelop-
5 ment company, granting an exemption from real property taxes pursuant
6 to section 125 of the private housing finance law for the 2021 and 2022
7 assessment rolls, for the parcels located in the City of Troy, as set
8 forth in Schedule "A" to the PILOT Agreement and more particularly iden-
9 tified below:
10 CURRENT ADDRESS SECTION-BLOCK-LOT NUMBER
11 55 Middleburgh St. 90.79-4-2
12 57-59 Middleburgh St. 90.79-4-3
13 71 Middleburgh St. 90.79-5-2
14 73 Middleburgh St. 90.79-5-3
15 77 Middleburgh St. 90.79-5-5
16 79 Middleburgh St. 90.79-5-6
17 81 Middleburgh St. 90.79-5-7
18 438 Eighth St. 90.79-4-42
19 462 Eighth St. 90.79-4-50
20 516 Eighth St. 90.79-4-58
21 518 Eighth St. 90.79-4-59
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11412-02-3
S. 7007--A 2
1 520 Eighth St. 90.79-4-60
2 284 Ninth St. 101.23-6-39
3 341 Ninth St. 90.79-4-25
4 345 Ninth St. 90.79-4-23
5 380 Ninth St. 90.79-5-62
6 382 Ninth St. 90.79-5-63
7 377 Ninth St. 101.23-6-4
8 457 Tenth St. 90.79-5-12
9 463 Tenth St. 90.79-5-10
10 The PILOT Agreement, and the exemption conferred thereby, shall be
11 effective as if the PILOT Agreement had been fully executed and approved
12 by the City Council of the City of Troy on or before the taxable status
13 dates established for the applicable rolls. Upon approval by the City
14 Council of the City of Troy and execution by all parties, the assessor
15 of the City of Troy may grant exemption from all taxation and make
16 appropriate corrections to the applicable rolls. Upon the granting of
17 exemption and such organization therefore shall have paid any tax with
18 respect to the applicable rolls, the governing body or tax department
19 may, in its sole discretion, provide for the refund of those taxes paid
20 and cancel any taxes, fines, penalties, interest, or tax liens remaining
21 unpaid.
22 § 2. This act shall take effect immediately.
