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market_120The Lansing Town Board voted unanimously Wednesday to support an application by Lansing Market, LLC to receive tax consideration over a seven year period.  Lansing Market is building a $3.25 million supermarket in the Town of Lansing on the corner of North Triphammer and Town Barn Roads.  If granted by the Tompkins County Industrial Development Agency (IDA), the Payment In Lieu Of Taxes (PILOT) agreement will help the market get on a firm financial footing while gradually adding to the property tax pool.

"I've talked to a lot of people in the community," said Lansing Supervisor Scott Pinney.  "There is overwhelming support for the project."

If approved the PILOT would assess the property at the existing tax rate plus 10% of the value of the improvements, which will include the store itself, parking lot, storm water and septic treatment, and equipment.  That will mean a 90% abatement in the first year, which will gradually decline to 0% abatement over a seven year period.  The PILOT would also help them with the state mortgage tax and with the sales tax.

The IDA met on October 1 to review the application for the PILOT, and held a public hearing at the Lansing Town Hall yesterday.  They are scheduled to vote on whether or not to grant the PILOT at their November 5th meeting.

The resolution passed by the Town Board notes that the project is part of a larger planned development that will eventually become a town center, and meets other IDA requirements for PILOT agreements.  It further notes that the market will provide goods and services not readily accessible to Lansing Town residents.

Andy Sciarabba, who put together a group of investors to finance the project, says that the market will generate 27 new jobs including seven full time and 20 part time.

Town support for the project is widespread, and the support of the Town Board is crucial to help convince IDA members to agree to grant the PILOT.  Sciarabba says he hopes to open the supermarket in May or June of 2011.

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