The developers of Pinnacle North, the mixed use project on Canandaigua Lake is one third of the way to getting key concessions on it’s 25 year Payment In Lieu of Taxes Agreement. On a 5-4 vote the City Council agreed to changes that set up a level payment plan. Now the School Board and Ontario County have to sign off on the deal. The developers are seeking the adjustments in order to help obtain financing for future development. The assessments per residential unit for the 1st, 2nd and 3rd phases will be fixed at the current rate 1 percent a year for the remainder of the 25-year pact .
Image from Pinnacle North Facebook Page