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IURA approves loan changes for GreenStar and $100,000 loan for Ithaca Coffee Company; board amends Cinemapolis lease tax responsibility
Summary
The Ithaca Urban Renewal Agency approved loan adjustments for GreenStar and a $100,000 loan for Ithaca Coffee Company and amended the Cinemapolis lease to shift property-tax responsibility, the agency reported Wednesday.
The Ithaca Urban Renewal Agency on Wednesday approved several community-lending and lease-amendment items, including a change in loan purpose for GreenStar and a $100,000 loan to Ithaca Coffee Company to convert space at 702 Hancock Street into a retail espresso bar.
At an Economic Development Committee meeting, members supported amending the Cinemapolis lease so the theater would no longer carry the property-tax obligation; staff said the intent is to transfer…
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