GENEVA — The city’s Industrial Development Agency could vote Friday on a tax incentive package worth over $8 million for the commercial portion of Lake’s Edge Seneca, the mixed-use development proposed for the former Geneva American Legion Property on Lochland Road.

The agency will ponder the tax breaks at an 8:30 a.m. meeting tomorrow in Room B of the Geneva Housing Authority’s Lewis Street offices.

Friday’s deliberations follow a public hearing Tuesday night at which the package was panned by the majority, with most asking the IDA to scrap or scale back the incentives.

Lake’s Edge Seneca will feature a 111-room luxury hotel with a rooftop bar and restaurant and wedding/event venue, as well as a 7,000-square-foot restaurant with a brewery.

Project incentives include an estimated property tax abatement package of $6.9 million over 15 years for the four taxing entities — the city, county, and school district (including the library). Lake’s Edge, owned by River’s Edge Capital, a private equity firm, would pay a gradually larger amount of money to each of the taxing entities, from nearly $30,000 the first year to nearly $875,000 in the 15th year of the PILOT.

Additional tax breaks include an estimated sales tax exemption of $1.4 million on facility construction, fixtures and equipment, and an estimated mortgage tax exemption of $176,476.

City Councilors Ken Camera (Ward 3) and Tom Burrall (Ward 1) headlined the opposition. Both emphasized they were speaking as residents and taxpayers, not members of a public body; the IDA has sole authority to grant tax abatements in the city.

Camera noted that he has been one of the staunchest proponents of redeveloping the 13-acre property that overlooks Seneca Lake. He saw it as an opportunity for the cash-strapped city to generate significant property tax revenue. However, after seeing the tax incentives requested by Lake’s Edge, that would not happen for many years, he said.

“I’m really disappointed in the appearance of the (payment in lieu of taxes),” Camera said.

He called the 15-year PILOT plan “brutal,” noting that Hobart and William Smith Colleges, which is not on the tax rolls, pays Geneva $200,000 to help pay for services the city provides.

“I’d like to see the IDA stop this (tax package),” Camera said. “Send it back. Say no.”

Burrall said Lake’s Edge has competing interests: a large private equity firm looking to maximize profits and a city population that’s in it for the long term. He and others pointed out that 60% of the city’s property is already off the tax rolls, meaning “40% of the property owners pay 100% of the taxes.” He said he “loves the project,” but that he is “opposed to the terms that are in front of you.”

Charles Hibbard said residents will make up what Lake’s Edge doesn’t pay in taxes, calling it a “substantial unwarranted gift to these developers that is not necessary.”

Walter Boyer said the Lochland Road property is prime real estate and that Lake’s Edge won’t walk away if they don’t get what they’re asking.

“The developer can’t simply go to another city and find these advantages,” Boyer said, adding that those lost revenues mean less money for all the taxing entities, including a city school district facing growing needs. “The city of Geneva cannot afford to subsidize a large, profitable business.”

“I think handing a tax break to a bunch of hedge fund millionaires is a horrible idea,” Bill Popalisky said.

Resident Jackie Augustine said that if the IDA is factoring the revenue from the 51-unit townhouse or condominium project in its decision-making on the tax incentives, it should be aware that condos are taxed in New York at a fraction of a townhome; the latter is taxed like a single-family residence.

Augustine noted that the developers argue in their need for assistance that they will be competing with two Canandaigua developments, Canandaigua-Finger Lakes Resort (still under construction) and The Lakehouse, a luxury hotel, both of which got tax breaks. However, she said those tax abatements are millions less than what Lake’s Edge is seeking from the city.

She called the PILOT a “voluntary tax giveaway,” and that the IDA needs to explain the “public purpose” of providing the benefits, such as the creation of unique jobs.

Other speakers said adding additional service industry jobs doesn’t enhance the region’s employment scene and that the new hotel and restaurant/brewery would compete with existing businesses for workers — companies that do not get tax breaks.

While most speakers urged the tax incentives be dropped or scaled back, two speakers spoke in favor.

Business owner Dave Linger acknowledged that city taxes are too high, but that the tax breaks for Lake’s Edge will assist a development that will bring more visitors into the city.

“It’s a great project,” Linger said. “It’s something we need.”

Resident Gary Baxter said the PILOT and other tax incentives will give Lake’s Edge time to grow the new businesses. And, while they may pay far less in property taxes, there will be increases in occupancy and sales taxes, along with construction jobs and permanent positions within the hotel and restaurant.

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