YNN

Rochester

Change region

  82º

You are not signed in  |  Sign in here  |  Help

You're viewing a lite version of ynn.com

Time Warner Cable customers: Sign in with your TWC ID for video access.

Get my TWC ID. | Get TWC service. | Read the FAQ.

10/04/2012 12:08 PM

Winn Still Plans to Buy Sibley Building

By: YNN Staff

Winn Still Plans to Buy Sibley Building
Winn Development Corporation still plans to close on the purchase of the Sibley Building in downtown Rochester by the end of the month.

This after a meeting Wednesday with the County of Monroe Industrial Development Agency over a tax break proposal, or payment in lieu of taxes program.

Winn Development Corporation says its purchase of the building is not contingent on the county's review and approval of the PILOT program. The City of Rochester criticized the county for taking its time on reviewing the plan, but the county says it wanted to do it's due diligence, and asked Winn Developers to submit more financial statements before a decision is made.

COMIDA officials say once the financial documents are submitted, they plan to have an independent consultant review them. Officials could not say whether or not the tax plan proposal will come up for a vote at it's November meeting.