30 Year PILOT Agreement For Developer In Harrietstown

The Harrietstown board has approved a 30-year payment in lieu of taxes agreement with the developers of the 70-unit Saranac Lofts apartment complex proposed on Broadway. According to the Adirondack Daily Enterprise, Kearney Group would pay the town a base of $70,000 for 30 years, with a 2% increase every year, instead of paying full taxes on the property. It’s impossible to know what the property value would be assessed at until the complex is built.