Two real estate partners who want to build a $22.8 million mixed-use apartment complex in downtown Albany are asking for a bigger property tax incentive than what's typically given. They say it's needed because of high construction costs, the inability to get state financial assistance and a low rate of return on the investment. Mark Aronowitz and Norman Nichols submitted an application to the Albany Industrial Development Agency seeking savings on sales taxes for construction materials, mortgage…
Comment on Investors seeking $4.3 million in property tax savings for downtown Albany development
Michael DeMasi, Biz Journals
Fri, 02/14/2020 - 4:00am
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