Developer Pine Ridge Construction pitches PILOT for lakefront project
GENEVA — The Geneva Industrial Development Agency is expected to get details soon on a proposed tax abatement plan for Lake’s Edge Seneca, the mixed-use development planned for the American Legion property on Lochland Road.
Pine Ridge Construction of Williamsport, Pa., is planning to build a 111-unit hotel, a 7,000- to 10,000-square-foot restaurant with a brewery, along with 51 luxury townhomes on the 13-acre property along Seneca Lake.
The project has received site-plan approval from the city Planning Board, and the company expects to close on the Legion property soon, Managing Director Marc Demshock told the IDA Friday morning, where he gave an overview of the development.
Next up: A payment-in-lieu-of-taxes agreement that will come before the IDA. City Manager Sage Gerling told the IDA that the PILOT proposal is getting a final review from the city’s attorneys and that IDA members should have it in their hands this week.
Only the commercial portion of the development — the hotel and restaurant — is eligible for a PILOT, noted IDA Chair Anne Nenneau. The townhomes are not eligible for a tax abatement.
A PILOT could reduce the developer’s tax liability for up to 50% of the property’s assessed value for up to 15 years, but Gerling did not provide details on what Pine Ridge is looking for from the city. No formal application has been submitted by the development company, she said.
Nenneau said the IDA has a “suggested formula,” but that the agency is not obligated to follow it.
The IDA is required to hold a public hearing on the PILOT before it can be approved, Nenneau noted.
Demshock provided a number of details about the project, saying the goal is to “create this destination resort center on the lake, the first property coming into the city of Geneva from the north.”
He said a couple of hotel operators are under consideration, but that “Marriott is the front-runner right now.”
The lodging facility would be a “soft-branded hotel,” meaning it would be tailored to the Finger Lakes market, Demshock explained.
The property will feature walking trails and pools, and “lakefront plantation architecture” is proposed, he said.
Pine Ridge has not chosen a restaurant operator, but Demshock said a farm-to-table operation highlighting Finger Lakes wines is the goal. The proposed brewery is likely a Pennsylvania brand looking to expand into the Finger Lakes, he indicated.
Some neighbors of the project, for which construction is projected to start in March, are urging the IDA to reject a tax abatement for Lake’s Edge Seneca. They argue the city doesn’t need to provide tax breaks to ensure the project happens in Geneva because the city is not competing against another community, as in the case of a manufacturer seeking assistance in exchange for locating in a particular community.
Demshock said a PILOT agreement would “make sure it’s a viable project, that we hit the ground running ... that we can be one of those iconic properties like Belhurst and Geneva On the Lake.”
Article written by STEVE BUCHIERE sbuchiere@fltimes.com
November 8, 2021
Original article linked here.