CLERK OF THE BOARD - WC IDA Amended Application for Real Property Tax Exemption - 10 Dr. Martin Luther King Jr. Blvd., WP

This item concerns an amended application for a Real Property Tax Exemption for the property located at 10 Dr. Martin Luther King Jr. Blvd., White Plains. The application is filed by the County of Westchester Industrial Development Agency (IDA) on behalf of S-WD/WP LLC. This amended agreement, effective retroactively to November 30, 2022, restates and splits a previous Payment in Lieu of Taxes (PILOT) Agreement. The property is a parking facility with approximately 600 spaces. The PILOT Agreement outlines the terms for payments made in lieu of real estate taxes, with the exemption expected to last until June 30, 2043. The agreement details the fixed PILOT assessment schedule, with payments starting at $0 in 2023-2025 and increasing to $190,000 by 2042.