IDA: Binghamton “Printing House” Owners Owe $1.2 Million

The Brooklyn owners of a downtown Binghamton student housing complex appear to be ignoring calls for overdue payments under a decade-old tax break deal.

The Broome County Industrial Development Agency is demanding more than $1.2 million from the entity that owns The Printing House apartments.

A Rochester-area law firm late last month notified the property manager of the Chenango Street complex of delinquent payments.

According to the letter, prior attempts to reach the owners had "gone unanswered." The demand for payment indicated the amount now due - including interest and late fees - was $1,233,380.

The notice warned that if the money was not paid by February 10, the IDA would terminate a 2016 payment-in-lieu-of-taxes agreement.

Under the PILOT deal, the 19 Chenango Empire LLC and related companies that acquired the old Press Building and two neighboring properties were required to making payments to Broome County, the city of Binghamton and the Binghamton City School District.

The property manager at The Printing House apartments Tuesday afternoon declined to discuss the manager with a WNBF News reporter. Representatives of the ownership group did not reply to a request for comment.

Natalie Abbadessa, the IDA director of operations, said "we have not received a response to any of our correspondence" to The Printing House owners.

Abbadessa provided a statement from Stacey Duncan, the IDA executive director:

Our incentive programs are built on partnership and mutual accountability. Companies receive benefits with the clear understanding that they will fulfill their commitments. Maintaining strong compliance standards protects the credibility of our programs and reinforces that economic development incentives come with real responsibilities. We are working through the necessary steps for compliance.

The Printing House apartments were developed in the former Press Building. The 12-story complex opened in August 2016 with capacity for nearly 300 students.

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Contact WNBF News reporter Bob Joseph: bob@wnbf.com or call (607) 545-2250. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.