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COMIDA approves tax breaks for Sibley redevelopment

Rochester Business Journal
December 18, 2012

The redevelopment of the Sibley Centre by the Winn Cos. will generate $4.4 million in economic income, with the Boston-based development firm getting $3.2 million in tax incentives for its work, officials said Tuesday.

Winn entity Sibley Redevelopment L.P. was approved for the tax breaks by the County of Monroe Industrial Development Agency as part of a payment-in-lieu-of-taxes agreement with the city of Rochester.

The entity plans to transform the 1 million-square-foot, 12-story building into mixed-use space, with retail on the first and second floors, office space on floors three through six, affordable housing on seven through nine and market-rate housing on 10 through 12.

Winn recently acquired the building for $5 million. It plans to spend $5.8 million on upgrades, with five jobs created over three years.

COMIDA approved tax breaks totaling $281,004 for 1700 English Road LLC, which plans to build a $3 million day care facility for Doodlebugs children’s center in Greece. The projected community benefit is $1.15 million.

The 11,400-square-foot building will be leased to LMG Childcare LLC, which will operate the day care center for up to 176 children. The company expects to create 35 jobs over three years.

LMG also was approved for $250,000 in sales tax exemptions to furnish the day care.

Abid Realty was approved for exemptions of $76,011 for a $747,000 expansion of Wild Bill’s Wholesale Inc. on Oak Street in Rochester. The community benefit is projected to be $281,902.

The project will add 20,000 square feet to the distributor’s 4,800-square-foot facility. The company, a provider of grocery items to convenience stores and gas stations, leases 9,000 square feet on Lake Avenue.

It expects to add five jobs over three years.

Tax breaks of $329,435 were approved for Ambassador Homes Inc., which plans to construct 12 units of senior rental housing on English Road in Greece. The community benefit is pegged at $687,817.

The $2.4 million Brook Forest Path development will result in six paired-ranch buildings, each with a 1,350-square-foot and 1,500-square-foot unit. Each paired ranch will include a two-car garage.

The project is expected to add one job in three years.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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