Town of Newburgh rejects mega-tax break for The Marketplace

A 120-acre parcel on Route 300 in the town of Newburgh that was to become The Marketplace, a destination for shoppers, diners and recreation enthusiasts, may be off the table for Wilder Balter Partners.
The Elmsford-based company has been actively building in the Hudson Valley and pursuing permission to build an outdoor mall for more than six years. On May 3, the developer was turned down for the 15-year PILOT (payment in lieu of taxes) proposed by the Orange County Industrial Development Agency.
Town Supervisor Wayne Booth and the Newburgh Town Board, faced with a loss of taxes from both the Roseton and Danskammer power plants ”“ both went into Chapter 11 bankruptcy proceedings in November 2011 ”“ told The Marketplace”™s representatives that a 15-year “super PILOT” would not be in the best financial interests of the taxpayers. The Newburgh Mall, which fought the opening of The Marketplace, also entered into Chapter 11 protection in December.
What”™s next for The Marketplace? “We have to work it out and see where we end up,” said John Bainlardi, senior project manager. “We are going to work with the town and IDA and hopefully, we can find a resolution we can all move forward with.”
A final decision will be made in June.