NY S07007

Authorizes the City of Troy to retroactively enter into a Payment-In-Lieu Of Tax (PILOT) Agreement with T.R.I.P. Redevelopment Associates for tax years 2021 and 2022.

Grants real property tax exemption under section 125 of the private housing finance law for 19 parcels on Middleburgh Street, Eighth Street, Ninth Street, and Tenth Street in Troy.

Makes the PILOT Agreement effective as if it had been executed and approved by the Troy City Council on or before the applicable taxable status dates for 2021 and 2022 assessment rolls.

Allows the Troy assessor to grant tax exemptions and correct the applicable assessment rolls upon City Council approval and execution by all parties.

Permits the City of Troy to refund taxes already paid and cancel unpaid taxes, fines, penalties, interest, or tax liens at the governing body's discretion.