Chautauqua County Industrial Development Agency Board meeting (December 17, 2024)
The Chautauqua County Industrial Development Agency board has approved additional tax incentives for the Silver Creek Senior Housing project.
The project, being done by Park Grove Development and Southern Tier Environments for Living under Silver Creek Apartments LLC, involves the demolition of the former Silver Creek High School and construction of a 50,000 square foot building with 50-units of housing for seniors age 62 and older.
The IDA Board approved increasing the amount of the Mortgage Recording Tax Abatement by $23,426 for a total of $215,000. The IDA board had, in February 2024, previous approved a 30 year Payment-In-Lieu-of-Taxes as well as sales tax abatement for the project.
The $20.1 million project is estimated to create 180 construction jobs with four permanent positions.
STEL Executive Director Tom Whitney said they hope to close on the property in early 2025 with demolition starting the month after that. He estimates it’ll take between six weeks and two months to complete demolition.
Leave a Reply