Endicott Approves a Payment-in-Lieu of Taxes Deal for Marchuska Plan
Endicott officials say ‘okay’ to a payment in lieu of taxes deal for Marchuska Brothers Construction for developing a plot of land on East Main Street near Union Endicott High School.
The 15-year PILOT deal gives the developer a 22-year term starting with an 82 percent tax abatement. That amount would decrease to end with a 69 percent reduction in taxes by the final year.
Marchuska is looking to locate its headquarters in one of the four buildings planned for the site with other office and retail space available.
Endicott Board members approved the deal in a vote of three to two with Cheryl Chapman and Linda Johnson voting against the agreement. Mayor John Bertoni and trustees Eileen Konecny and Larry Coppola voted in favor of the PILOT deal. Broome County’s industrial development division must also approve the agreement.
Marchuska development paid $250,000 for the property.