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.