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Cortland approves TIF reimbursement for Cortland Lions Club capped at $14,000
Summary
Trustees approved an ordinance authorizing a TIF redevelopment agreement with Cortland Lions Club 524 to reimburse up to 75% of verified eligible costs or $14,000, with Trustees Stone and Haier recusing due to property ownership in the TIF district.
The Town of Cortland Board of Trustees approved an ordinance on June 8 authorizing a TIF redevelopment agreement with Cortland Lions Club 524. The agreement specifies that "the eligible project cost shall not exceed 75% of the verified TIF eligible project costs or $14,000, whichever is less," and the board voted to authorize execution of the agreement.
Trustees Stone and Haier recused themselves from the discussion and vote because they own property within the TIF district. Trustee Corson moved the ordinance, Trustee Fioretto seconded, and the motion carried with four trustees voting in favor and two abstaining because of recusal. No further discussion was recorded in the transcript.
