MOUNT KISCO, N.Y.-- The Village of Mount Kisco is considering a Payment in Lieu of Taxes Program (PILOT) for the Hearth senior housing project.
The village is negotiating with Fortis Group, which plans to develop The Hearth at Mount Kisco, a 17.7 acre senior development on a tax payment program.
Fortis has applied to the county Industrial Development Agency for tax relief from sales tax and mortgage program and has requested a PILOT from the village.
The 129-unit project would be located at Kisco Ave. across from the Holday Inn Express.
"It's a little complicated," Mayor Michael Cindrich said. "We're not prepared to enter into a PILOT unless we arrive upon an agreed value of the property and what the assessed value would be going forward. There's no resolution."
The project has been in development since 2004. The village recently met with the county IDA to update them on the situation.
"We want to arrive at a resolution that is beneficial to Mount Kisco," Cindrich said. "We have to make it equitable."
Cindrich has said that the PILOT would be equal to what the village would receive in property tax payments.
At a recent planning board meeting, the planning board announced they would not be involved in the PILOT negotiations, leaving it to the village board.
The planning board is currently weighing the environmental impacts of the project.
Susan Wollin, the president of the Bedford School Board, expressed her concern about any potential tax breaks the Hearth might receive, complaining about lack of notice from the IDA.
"The Board of Education has not had an opportunity to view all of the materials associated with this proposed plan to be sufficiently versed to ask appropriate questions and adequately analyze the ramifications of an IDA role and resulting tax exemptions in and for this project," Wollin wrote to the IDA.
Wollin said she was dismayed when they were contacted by a Hearth attorney about a potential PILOT.
The review documents "addressing economic impacts had no mention of any such PILOT agreement," Wollin wrote. "The tax implications stand to affect the District more than any other taxing jurisdiction"
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