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BID remains a major talking point
The City Council chose to eliminate a resolution from their meeting agenda Thursday night that would have postponed a public hearing on the proposed downtown Business Improvement District from Dec. 18 until Jan. 22, but the topic continued to be the major talking point of the night.
Several major Troy developers including John Hedley, Sam Judge, David Bryce, and Jeff Pfeil showed up along with other board members from the Troy Downtown Collaborative to show their support for the BID and thank the council for not delaying the public hearing.
If the hearing had been delayed, the 30 day period for property owners to vote against the BIDs establishment also would have been delayed. As it currently stands, that period will begin after Dec. 18.
Local restaurant owner Michael LoPorto and Tony Iannacito, the owner of Tony of Italy on Fourth Street, spoke in opposition to the BID's creation because they did not want property owners to pay an increased 5 percent property tax and felt its cost for administration was too high.
More details and comments can now be found here on The Record's Web site.
Labels: BID, Business Improvement District, City Council, Troy Downtown Collaborative
posted by James Costanzo at
10:08 PM
3 Comments:
The Victorian Stroll each year reinforces the fact that Troy's business district is unique and needs all the care that can be managed (as much as I appreciate Albanu, - think of strolling in downtown Albany).
Especially in times that city revenue may be down, these Business Improvement Districts have proven valuable in keeping city center environments safe, clean and visitable.
To Bid or Not to Bid, that is the question:
Given the fact that Mirch and his Republican majority passed a County Budget which raises property taxes in Troy by 13% I will be truly amazed if property owners will approve a 5% tax on top of the 13% County Tax.
Bid Supporters: Good Luck, you will need lots of it.
Once again, the State equalization rate for The City of Troy was .16 last year and was reset by the State to .135 this year. That’s a 15% increase. Add a little increase in the amount of taxable property in Troy and there is your 13% more in the Troy Tax levy Number.
NOT MIRCH, Not The CITY, NOT The COUNTY, in Troy it’s the STATE EQUALLIZTION RATE. If you paid school taxes in July, you already know that.
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