County approves Agro Farma PILOT agreement
NORWICH – The Chenango County Board of Supervisors has approved a Payment in Lieu of Taxes agreement between the Chenango County Industrial Development Agency and Agro Farma.
The board adopted a resolution on Monday authorizing the agreement, which will give the Town of Colubus-based yogurt manufacturer a 50 percent exemption on its county, town and school property taxes over the next ten years.
The exemption applies only to the company’s newly constructed 150,000 square foot partially-refrigerated warehouse and the 20.47 acres on which it sits. The company’s other holdings remain fully taxable, according to Clerk of the Board R.C. Woodford.
According to number provided by the CCIDA, the parcel has been assessed for $7.4 million by the Town of Columbus assessor. The tax concessions will save the makers of Chobani Greek-style yogurt an estimated $1,249,086 over the life of the agreement.
The board of supervisors approval of the agreement is just a formality, as the PILOT itself was granted by the CCIDA in November. According to CCIDA Executive Director Maureen Carpenter, the board’s action Monday was necessary in order for the county to receive their portion of the payment.
The board adopted a resolution on Monday authorizing the agreement, which will give the Town of Colubus-based yogurt manufacturer a 50 percent exemption on its county, town and school property taxes over the next ten years.
The exemption applies only to the company’s newly constructed 150,000 square foot partially-refrigerated warehouse and the 20.47 acres on which it sits. The company’s other holdings remain fully taxable, according to Clerk of the Board R.C. Woodford.
According to number provided by the CCIDA, the parcel has been assessed for $7.4 million by the Town of Columbus assessor. The tax concessions will save the makers of Chobani Greek-style yogurt an estimated $1,249,086 over the life of the agreement.
The board of supervisors approval of the agreement is just a formality, as the PILOT itself was granted by the CCIDA in November. According to CCIDA Executive Director Maureen Carpenter, the board’s action Monday was necessary in order for the county to receive their portion of the payment.
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