NY S07008

Authorizes the City of Troy to enter into a retroactive Payment-In-Lieu Of Tax (PILOT) Agreement with Hillside Redevelopment Associates granting a real property tax exemption under section 125 of the private housing finance law for the 2022 assessment roll.

Exemption applies to 20 specified properties in Troy identified by address and section-block-lot numbers, including parcels on Oakwood Terrace, Middleburgh Street, Eighth Street, Ninth Street, and Tenth Street.

PILOT Agreement and exemption shall be effective retroactively as if fully executed and approved by Troy City Council on or before the applicable taxable status dates for the 2022 roll.

Authorizes Troy's assessor to grant exemption from all taxation and make corrections to the applicable roll upon City Council approval and execution by all parties.

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