At their first meeting of the year, the Amsterdam Industrial Development Agency voted to consider a Payment In Lieu of Taxes agreement with 10 Market Street LLC, who recently purchased the downtown hotel building, and are working to convert it into a assisted living facility*. According to AIDA Director Jody Zakrevsky, the new facility, which was sold in October 2015, is expected to create 75 new jobs.
Zakrevsky said the board will consider issuing a 10 year PILOT agreement. However, other details of the agreement, such as payment amounts, have not been finalized yet. The board has scheduled a public hearing on the issue for February 18 at 5:30pm, with a special meeting to vote on the agreement at 6:00pm. The meetings will be held in the AIDA office on the second floor at City Hall.
* Editor’s note: At the meeting, Zakrevsky referred to the development as a “skilled nursing facility,” which is the term that was used originally in this article. After following up with his office, Sandy Yutes, executive assistant, speaking on behalf of Zakrevsky, said that the correct term was “assisted living facility.”