Council approves Island Street agreement
Saturday August 11, 2012 | By:Kori Sciandra | News
NORTH TONAWANDA - The North Tonawanda Common Council approved a PILOT agreement between the Island Street Foundation and the City of North Tonawanda, which indicated the foundation will agree to make payments to the city in lieu of taxes. The non-profit organization will make these payments annually at the same time real property taxes are due. In addition, the foundation agreed to make grant payments in the amount of $50,000 each year. The funds from these grants will benefit the city by allowing the funds to be used toward city schools, the city and other not for profit organizations.
“This is going to be great for the city. On top of the agreement to make payments to the city, they are contributing an additional $50,000. Now, instead of trying to find the means to make up for that loss of taxes, we’ve actually gained money,” said North Tonawanda Mayor Rob Ortt.
Ortt added he is glad this organization chose to stay in the city and noted the reasoning behind the annual $50,000 grants is often because, “If an organization likes the place they are working with, they usually want the funds to stay in that city.”
In other city news:
• The annual Egyptian Festival, held by St. Mary and St. Moses Coptic Orthodox Church in North Tonawanda will be held Sept.8 and Sept. 9. The event is expected to welcome more than 800 people.
• A workshop will be held at 6:30 p.m. Tuesday, Aug. 14 at city hall, located at 216 Payne Ave., North Tonawanda.
“This is going to be great for the city. On top of the agreement to make payments to the city, they are contributing an additional $50,000. Now, instead of trying to find the means to make up for that loss of taxes, we’ve actually gained money,” said North Tonawanda Mayor Rob Ortt.
Ortt added he is glad this organization chose to stay in the city and noted the reasoning behind the annual $50,000 grants is often because, “If an organization likes the place they are working with, they usually want the funds to stay in that city.”
In other city news:
• The annual Egyptian Festival, held by St. Mary and St. Moses Coptic Orthodox Church in North Tonawanda will be held Sept.8 and Sept. 9. The event is expected to welcome more than 800 people.
• A workshop will be held at 6:30 p.m. Tuesday, Aug. 14 at city hall, located at 216 Payne Ave., North Tonawanda.
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