Updated 09/26/2012 10:31 PM
Irondequoit Board Rejects Terms of I-Square Developer's Plan
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It's a decision the Irondequoit Town Board was set on.
"Even if I could undoubtedly prove to you that this would bring 40 jobs to Irondequoit, that I can undoubtedly prove to you this would not add one penny to any Irondequoit taxpayer's tax bill," said Mike Nolan, I-Square developer, to the town board.
Nolan tried to plead his case to town board members to consider his 25-year pilot program for the I-Square project. It included a tax break of .5 percent.
But the board had already decided it had heard enough.
"They wouldn't listen to me tonight. They wouldn't listen to our points to give us a chance to debate the merits of their objections. That's not government," said Nolan.
Nolan wants to redevelop parts of Union Park, Titus Avenue, and Stranahan Park into a seven-building, mixed-use property.
Town Supervisor Mary Joyce D'Aurizio says because of Nolan's lack of a detailed business plan, the board had concerns with giving his 25-year PILOT project the green light.
"We do not know what his financing stream is, and those are all important to our making a decision, because in a sense, it's like we are loaning the town to his project," said D'Aurizio.
Instead, the board unanimously agreed to approve a ten-year PILOT program for I-Square that includes a 2.5 percent tax increase.
"Not even remotely affordable for us to build I-Square under that. I don't need their approval to get a better agreement than they just suggested," said Nolan.
"To expect any board to live with something that's a quarter of a century long, we can't predict the future," said D'Aurizio.
A future that has now become uncertain for I-Square.
"He'll have to find some other way or come up with a business plan and revise what he has planned for it," said D'Aurizio.