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Peekskill IDA: Hotel LLC pilot payments complete; Drum Hill school share due Oct. 1
Summary
The Peekskill IDA reviewed finances Sept. 24 and reported Hotel LLC completed underbilled pilot payments; one remaining Drum Hill payment for the school district (about $137,000) is invoiced and due Oct. 1, staff said.
Chair opened the meeting and the agency moved to accept the minutes before turning to financial reports. Abby, the agency finance presenter, told the board the pilot payment process has largely concluded: "I'm happy to report that as of September 16, we've collected all of those payments," referring to Hotel LLC's remittances.
Abby said the Drum Hill payment is split into two parts — city/county and the school district — and that the city/county portion (roughly $70,000) has been received. "We've invoiced [the school district] already; we should be receiving payment by October 1," she said. The board did not raise objections and asked staff to ensure distributions to the respective tax jurisdictions are made within 30 days of receipt.
