POUGHKEEPSIE – Now that
the Dutchess County Industrial Development Agency has granted final approval
for financial incentives, two major projects will be moving forward.
Phase 1 of the T-Rex Hyde Park project in the Town of Hyde Park was granted
a property tax PILOT, mortgage tax filing exemption and sales tax exemption
for a $30 million project across Route 9 from the Culinary Institute of
America.
The first phase of the project will include construction of a hotel and
site infrastructure. When completed, the project will include a second
hotel, conference center and retail stores.
The IDA Board also approved financial incentives for 165 Overlook, LLC
in the Town of LaGrange. The company plans to build a 91-unit commercial
residential project on the former Lewis Farms property.
That project received IDA approval for a PILOT, mortgage filing fee exemption
and sales tax exemption.
