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CCIDA schedules public hearing for Hopkins Place redevelopment, developer proposes 24 apartments and 10-year PILOT
Summary
The Chemung County IDA authorized a public hearing for Hopkins Place, a proposed $2.515 million redevelopment at 550 Spruce Street that would create 24 market-rate apartments and seek a 10-year, 50% tax abatement (PILOT) with an estimated $279,000 in exemptions over 10 years.
The Chemung County Industrial Development Agency on Nov. 13 authorized a public hearing on Hopkins Place, a proposed redevelopment at 550 Spruce Street in the town of Southport that the applicant says will convert a long-vacant, blighted building into 24 market-rate apartments.
Jill (Speaker 4), who presented the application to the board, said the current assessed value of the property is $65,000 and that the total project cost…
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