GCEDC approves tax assistance for three projects, including Darien Lake expansion
Submitted by Howard Owens on February 11, 2013 - 1:38pm
The Genesee County Economic Development Center Board of Directors has approved assistance with the following projects:
Darien Lake Theme Park. Darien Lake is planning new cabins and new rides for 2013. The total investment by Darien Lake is $5.2 million and theme park management sought assistance with $1.9 million of the investment. The board approved a PILOT (reduced property tax on the increase in assessed value due to the improvements) worth $147,339 over 10 years. The project will also save $132,000 on sales tax for construction materials. The project is expected to generate six additional full-time equivalent jobs. Darien Lake employees more than 400 FTEs.
Reed Batavia Properties, LLC. Reed is in the process of purchasing the former Batavia City Schools administration building at 39 Washington Ave., Batavia. The company is planning $1.525 million in improvements to the building, converting it to medical offices. The GCEDC board approved a $76,361 PILOT, $52,000 in sales tax exemption, and a $12,500 mortgage tax exemption. The project is expected to generate six new jobs.
Batavia Hospitality, Inc. (Days Inn / Super 8). The company is planning on investing $530,000 in building improvements, including a new pitched roof, exterior facelift and interior upgrades. GCEDC's board approved a PILOT worth $54,198 over 10 years and sales tax exemption of $28,000. The project is expected to create five new jobs and help retain 16 jobs.