IDA extends option agreement for 1205 Plymouth Ave Arbor senior housing project

The Chemung County Industrial Development Agency on Aug. 14 approved a 12-month extension of an option agreement for the Arbor development at 1205 Plymouth Ave, the site of the former Brookside Trailer Park.

Staff reported the developer's first application for New York State low-income housing tax credits was not approved this cycle; the developer ranked fourth and three awards were made. The developer has resubmitted for the fall round and amended its site plan at the state's request, changing from a mix of apartments and townhouse-style units to all-apartment units to strengthen the application.

Staff said the project represents roughly $18,000,000 in investment and would create about 60 units targeted at seniors at 80% area median income. The agency's staff recommended the 12-month option extension to allow the developer time to pursue tax credits and obtain local site-plan amendments.

A motion to approve the extension passed on a roll-call vote. Board members recorded voting in the affirmative included Ian O'Brien, Lauren Roman, Mike Contando, Chuck (surname not specified in the record), Mike Collins and other members who were present; the motion carried.

The extension does not itself authorize funding or a subsidy; it preserves the developer's option to acquire the property for the project while they pursue state tax-credit approval and local site-plan amendments. Staff said the developer had reasonable progress and the agency considered the extension appropriate.

Board members asked no further substantive questions on the motion and moved to executive session after votes on other items.