6.07.16 - Agency board approves financing incentives for Century Sunrise project
"The Agency Board of Directors voted to approve financing incentives for the Century Sunrise redevelopment project. Larry Regan of Regan Development Corp. plans to redevelop two vacant multi-story brick and masonry industrial buildings, which were part of the historic Endicott-Johnson Corp. industrial complex. The IDA will provide a thirty-year payment in lieu of tax agreement (PILOT) to assist with the project."
"The total estimated project cost is $29 million. Regan Development will finance the project using federal and state housing tax credits, Historic Tax Credits, and CDBG Disaster Relief funds. Regan was also awarded $1.3 million from the Southern Tier Regional EDC."