While the land would remain state property, the developer would have to reach a payment
in lieu of taxes with Albany's Industrial Development Authority that could add millions to city coffers.
Not exact matches
«Some states
with high property
taxes, like New Hampshire and Texas, rely heavily on property
taxes in lieu of other major
tax categories; others, like New Jersey and Illinois, impose high property
taxes alongside high rates
in the other major
tax categories,» Walczak explains.
Combined
with other proposed
tax law changes, many more taxpayers will be claiming the standard deduction
in lieu of itemizing deductions.
Jefferson, Washington, and the Congress chose to help the industry get back on its feet by what was essentially a
tax cut (
in lieu of tariffs paid for supplies coming from outside the U.S.) to the owners and workers
of the cod fishery on the condition that the ship owners share the
tax credits
with all the workers.
Entergy has «payment
in lieu of taxes» deals
with Buchanan, the Hendrick Hudson school district, the city
of Peekskill and Westchester County that were expected to amount to about $ 31 million
in revenue for those government entities
in 2015 and rise annually along
with the state property
tax cap.
Gallo, who confirmed the conversation took place, was at the time engaged
in an extended legal battle
with Aaron over a «payment
in lieu of taxes» arrangement for one
of Aaron's other Kingston properties.
Several important governmental resolutions mark the transition into 2014, all having to do
with the application by Wilmorite Corporation to the Ulster County Industrial Development Agency (UCIDA) for a payment
in lieu of taxes (PILOT) agreement.
Erie County Legislator Lynne Dixon announces that the Legislature supports a Payment
in Lieu of Taxes (PILOT) agreement
with the City
of Lackawanna and housing agencies to provide housing for low and very low income families.
While she was successful convincing the state to provide $ 12.5 million
in new funding this year rather than the typical advance on a payment -
in -
lieu -
of -
taxes owed to Albany for the Empire State Plaza being off the
tax rolls, it didn't come
with the promise
of future funding.
Next up for Hubbard: try to convince the Town Board not to approve a PILOT (Payment
In Lieu of Taxes) agreement
with the developer.
The capital city
in recent years has depended on a series
of «spin - ups,» or advances, on the payment -
in -
lieu -
of -
tax agreements it maintains
with the state to close budget gaps.
The development also received a $ 660,000 Suffolk County HOME Loan, a Suffolk County Acquisition and Infrastructure Loan
of nearly $ 1.95 million, a $ 150,000 loan from the Village
of Patchogue, a $ 250,000 philanthropic loan, and a 30 - year payment
in lieu of taxes agreement
with the Village
of Patchogue.
Walsh, on the city's behalf, helped negotiate a 14 - year payment -
in -
lieu -
of -
tax agreement, also called a PILOT,
with Riley's team, the developer said.
The donations began around the time some two years ago when the Rochester - based Wilmorite, a development corporation, filed a request for a payment -
in -
lieu -
of -
taxes (Pilot) agreement
with the county's Industrial Development Agency.
She also said the city is working
with large
tax - exempt organizations like the colleges and medicals centers
in Albany to work out voluntary payments
in lieu of the property
taxes they do not pay.
This includes charging fees for services, developing PILOT (payments
in lieu of taxes) arrangements and reaching voluntary payment arrangements
with non-profit groups.
When we last tuned
in to the seemingly endless conflict between New Paltz government and developers seeking to build student housing for the college, the town board had bonded
with the village board
in opposing any kind
of payment
in lieu of taxes (Pilot) agreement for the developer.
According to payment -
in -
lieu -
of -
tax agreements
with the developer, the city will receive no property
taxes from Carousel Center mall or the Destiny expansion for 30 years, said Bill Ryan, the mayor's chief
of staff and the chairman
of SIDA.
The idea — as
with every property
in lieu of taxes agreement, or PILOT — was to encourage private development
with short - term
tax breaks
in return for improved property, more jobs and increased traditional
tax payments
in the long term.
The road ahead is far from certain though: Many councilors still have serious issues
with a request from a private developer for a 30 - year payment -
in -
lieu -
of -
taxes (PILOT) deal to build a complex that it would then rent out to the university.
That was the ruling Wednesday from New York State Supreme Court Justice James Murphy after the city sued COR for the $ 44 - million PILOT (payment -
in -
lieu -
of -
taxes) agreement it signed
with the Onondaga County Industrial Development Agency.
Each individual
with a Social Security number can purchase up to $ 10,000
of them per year, and get an additional $ 5,000 worth
in lieu of a
tax refund.
With these programs,
in lieu of traditional pay stubs, and
tax returns, lenders use the deposits on your bank statements as qualifying income.
You also need to consider that this $ 30 is
in lieu of sitting down face - to - face
with a
tax prep specialist, who will charge much more than $ 30 for their time.
The acceptance
in lieu scheme was created
in David Lloyd George's people's budget
of 1910,
with hundreds
of outstanding objects and collections given as a way
of settling
tax bills.
Conversation
with Magic Stones Artist: Dame Barbara Hepworth 1903 - 1975 Date: 1973 Classification: sculpture Medium: Bronze Dimensions: object: 2692 x 635 x 457 mm Accepted by HM Government
in lieu of tax and allocated to the Tate Gallery 1984 © Bowness
Seated Woman
with Clasped Hands Artist: Dame Barbara Hepworth 1903 - 1975 Date: 1949 Classification: on paper, unique Medium: Oil paint and graphite on paper Dimensions: unconfirmed: 470 x 355 mm Accepted by HM Government
in lieu of inheritance
tax 2010 and allocated to Tate 2012 © Bowness
In addition, projects starting construction before the end of 2011 may elect to receive an equivalent - value cash grant in lieu of the ITC (known as a 1603 Grant after its ARRA section number), thus mitigating the need for investors with sufficient tax burdens to be offset by the IT
In addition, projects starting construction before the end
of 2011 may elect to receive an equivalent - value cash grant
in lieu of the ITC (known as a 1603 Grant after its ARRA section number), thus mitigating the need for investors with sufficient tax burdens to be offset by the IT
in lieu of the ITC (known as a 1603 Grant after its ARRA section number), thus mitigating the need for investors
with sufficient
tax burdens to be offset by the ITC.
For the moment — because he had to — because his coup would otherwise not have worked — Turnbull has acceded to the conditions
of the National Party that's
in coalition
with Tony Abbott's Liberal Party — the Nationals» conditions being that he would undertake to keep the Abbott / Nationals climate policy
of direct action
in lieu of Turnbull's preferred carbon
tax / ETS ---
in place.
• Eliminate the dividend withholding
tax in its entirety if it can be circumvented so easily • Source dividend - equivalent payments by reference to the source
of the dividend income on the underlier (e.g., similar to sourcing rules for
in -
lieu of dividend payments made
in connection
with securities loans)-- cascading withholding
taxes — multiple derivatives can be entered into on same share
of stock — would change shift dealer activity (and its
tax revenues) to London?
Notable mandates: Represented Halifax Regional Municipality
in its 10 - year battle
with the federal government over the under - estimation
of the value
of Citadel Hill pursuant to the Payments
in Lieu of Taxes Act; represented the province
of Nova Scotia
in the purchase
of Bowater Mersey Paper Co. Ltd., and on the NewPage Corp. matter; advised Husky Energy on its South White Rose Extension project; acted for Emera Inc. on the development and transmission
of hydroelectric power from Muskrat Falls; acted for Dexter to formulate a 3P bid to complete the twinning
of the Saint John to St. Stephen divided highway, and provided legal advice when it won the contract; provided all legal services to establish title to Loblaw Co. Ltd. properties throughout Atlantic Canada as part
of the establishment
of a proposed REIT; engaged by TransCanada Corp. as local counsel on the Energy East Pipeline Project
And even if the current property owners are happy
with the restrictions -
in -
lieu -
of -
taxes tradeoff, I can't help but wonder if they have given any thought to moving - out day.
You can probably even use those statements
in lieu of the receipts, but check
with the IRS first, says
tax attorney Sandy Botkin.
mezzanine lenders, and representation
of the senior lenders
in connection
with intercreditor arrangements
with the trustee under a $ 800 million payment -
in -
lieu -
of -
taxes (PILOT) bond financing.
So you would owe income
taxes on the amount forgiven
with a deed
in lieu of foreclosure.