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IURA considers Farmers Market Cooperative rent deferral; nonprofit says construction reimbursements delayed
Summary
The IURA heard a request from the Farmers Market Cooperative (via Friends of the Farmers' Markets) to defer 2025 rent at Steamboat Landing until Dec. 1, 2025. The nonprofit’s representative said construction reimbursements from the state were delayed and that an operating shortfall required borrowing to pay contractors.
The Ithaca Urban Renewal Agency took up a request from the Farmers Market Cooperative to defer 2025 rent for Steamboat Landing until Dec. 1, 2025, and to authorize a letter agreement amending the lease to implement the deferral.
Carl moved the resolution, which the transcript records as: the IURA would “approve the Farmers Market Cooperative's deferral on rent 2025 rent due on Steamboat Landing until 12/01/2025 when all deferred rent will be due and payable” and would authorize the director of community development to implement the resolution…
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