TOWN OF POUGHKEEPSIE – Developers of a 288-unit apartment complex and 85,400 square foot commercial use space as part of the Town of Poughkeepsie town center are seeking financial benefits from the Dutchess County Industrial Development Agency.
Developer Meadow View Properties, LLC is asking the Dutchess County Industrial Development Agency for a real estate Payment in Lieu of Taxes, sales tax exemption and mortgage tax exemption for the approximately $58.5 million project.
A preliminary resolution for the benefits will come before the IDA at its next session on Tuesday.
Also on the agenda will be consideration of final approval for Cardinal Court Apartments, LLC for sales tax exemption and mortgage tax exemption for a $6.4 million project to convert an abandoned building at 40 Canon Street in Poughkeepsie into 49 upscale apartments, six commercial units and two two-story penthouse apartments.
At the Dutchess County Local Development Corporation meeting, also on Tuesday, final approval is on the agenda for tax-exempt refunding bonds for a Marist College project estimated to be $13.9 million to $15 million.
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