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Development office plans public hearing ADVERTISEMENT

Development office plans public hearing

MILO--The Finger Lakes Economic Development Center will hold a public hearing regarding the purchase and development of the former Penn Yan Marine site into a residential community. The public hearing will take place Tuesday, Oct. 21 at the town of Milo meeting room at 137 Main St. at 9 a.m. The proposed project and related financial assistance will be discussed during the public hearing.
The proposed development calls for Keuka Outlet Development LLC to build a 41 unit condominium complex and a 24 slip marina at the former Penn Yan Marine site. The proposed project involves the purchase of the more than 14 acre property along with the construction of utility improvements to accommodate the development. Developer Chris Iversen said during the last Penn Yan planning board meeting he is looking at unit models ranging from 1,600 to 1,800 square feet. There are also plans to include a pedestrian walking trail on the property along the outlet that will be available for public use.
Also under consideration will be the possibility of tax exemptions for the project. The possible exemptions include from mortgage recording taxes with respect to documents, exemption from deed transfer taxes on any real estate transfers, exemption from sales taxes related to acquisition, construction and installation of the project, and the possibility of a payment in lieu of property taxes.
The meeting is open to members of the public to offer comments regarding the project or financial assistance aspects involved. For more, contact Steve Griffin with the Finger Lakes Economic Development Center at 315-536-7328.

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