COR Development Tax Breaks In Batavia Generate ControversyPosted: May 16, 2013
COR Development is in the midst of a controversial tax break case. On May 2nd, The Genesee County Industrial Development Agency unanimously approved $1.7 million to a project to redevelop a strip mall in Batavia, N.Y.
Now, Assemblyman Chris Ryan is urging that the state investigate whether the Genesee County I.D.A. decision violates new state guidelines on tax breaks for retail projects.
One interesting fact–COR Development received $4.6 million in tax breaks back in 2007 to develop the strip mall and land a Lowes’ store. Now they’re back again, hat in hand, to re-ddevelop the same property.
There was local opposition to the new tax breaks at a recent public hearing. The four new proposed stores in the strip mall are estimated to create 100 FTE (“full time equivalent”) jobs. Many noted that the acronym is code for part-time jobs with few benefits.