Council approves one-year shift for Hyatt Studios redevelopment, authorizes tax-increment note

The City of York, acting as its Community Development Agency, on Dec. 4 approved Resolution 2025-28 to rescind an earlier timetable and authorize issuance of a tax-increment development revenue note and an amended redevelopment contract with Hyatt Studios.

Developer representative Mike Steman told the council the change simply shifts the project start by one year after the team missed its original 2025 construction window. "What you have before you is just the shifting of the development agreement beginning in 26 rather than what we had for 25 because we missed that time frame in which to get construction in," Steman said, adding the goal is to close on the site before the end of December and begin construction in late spring or early summer.

The amendment preserves the project’s ability to capture the full tax increment that underpins the financing. Council members moved and seconded the resolution, and roll-call votes were recorded in the affirmative.

The resolution authorizes the city to provide for terms of a tax-increment development revenue note and to execute an amended redevelopment contract with Hyatt Studios; the council took formal action at the meeting. Next steps identified by the developer include finalizing the land purchase and completing roughly four months of design work before construction can begin when weather permits.