CLERK OF THE BOARD - HG II Residential Developer LLC and County of Westchester IDA, Amended and Restated PILOT Agreement and "Application for Real Property Tax Exemption"

This item concerns an Amended and Restated Payment in Lieu of Taxes (PILOT) Agreement for the residential component of a development at 20 Barker Avenue, White Plains. The agreement is between HG II Residential Developer LLC and the County of Westchester Industrial Development Agency (IDA). It amends and restates a previous agreement dated August 1, 2022, and is effective retroactively to November 30, 2022. The property is identified as Section 125.67, Block 5, Lot 1..22. The agreement outlines the terms for payments in lieu of real property taxes for the residential facility, which includes approximately 127 residential rental units, with 9 units designated as affordable. The PILOT agreement is set to continue until June 30, 2043, aligning with the projected expiration of the IDA's interest. The agreement also details the responsibilities of HG II Residential Developer LLC regarding payments and compliance with environmental laws.