Otsego County IDA Approves Tax Agreement with Newman Development
The Otsego County IDA yesterday voted 8-0 to approve a payment-in lieu of taxes agreement with Newman Development group of the Hillside Commons project on Blodgett Drive.
The 15-year tax abatement calls for the developers to pay a little over $92,000 in taxes in the first year. In the 15th year, the number climbs to $418,000.
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