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Albany City incentive board weighs tax exemption for 66 Colvin Ave storage conversion, enters executive session and makes no final decision
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Summary
The Industrial and Commercial Incentive Board reviewed an application for a tax exemption for 66 Colvin Avenue (a converted self‑storage facility), debated whether the board has discretion to limit exemptions by use or geography, entered executive session for legal advice and left without a decision; members noted an assessment‑roll timing constraint on May 1.
The Industrial and Commercial Incentive Board reviewed an application seeking a local tax exemption for 66 Colvin Avenue, a recently converted self‑storage facility, but left without a decision after entering executive session for legal advice.
The chair explained the applicable statutory framework (citing RBTL 45b) and the city’s practice of applying a shortened exemption schedule. Under the state scheme the exemption can run 10 years with a schedule tapering from 50% to full taxation; Albany City’s code effectively applies a five‑year schedule to the increase in assessed value arising from rehabilitation. The transcript records a base assessment of $1,000,000 and an increased assessed value to $4,200,000, meaning the exemption would be applied to a $3,200,000 increase. The chair summarized the benefit schedule: “So in practicality, it’s a 5 year exemption, which goes 50%, 40%, 30%, 20%, 10%,” applied to the assessed increase.
Board members debated whether the incentive board has discretion to deny an otherwise qualifying application based on use (for example, self‑storage) or location. One member and counsel cautioned that a denial could be vulnerable to legal challenge; in the transcript a board member warned the decision could be “easily defeated” in court if challenged. Several members said the board has historically not restricted eligibility by geographies or types of commercial use and urged adopting formal criteria on a future date rather than imposing new restrictions while an application is pending.
Members discussed timing constraints tied to the assessment roll: the chair noted the tentative assessment roll is issued on May 1 and that the board would need to act before that date for the exemption to apply to the current year’s assessment. The board moved and voted to go into executive session to receive counsel’s advice; on exiting the session the chair announced that “no decisions have been made.” The property owner’s attorney, identified in the record as Pat Caley and present in the meeting room, answered questions and said the facility was about two‑thirds occupied; the attorney said the exemption would help the business stabilize occupancy while it becomes fully operational.
Board members signaled a likely path forward: several recommended acting under past practice on the pending application and then reconvening to draft explicit eligibility criteria and geographic boundaries for future applications. The board made no final exemption decision in the recorded meeting and indicated it may call an additional meeting if needed before assessment‑roll deadlines.
Because the transcript contains numerous procedural and legal points but no formal approval or denial of the exemption application, the board’s next step will be either a formal vote at a reconvened meeting or action timed to meet the May 1 assessment deadline.
