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Medley Developer Gets Final Deadline to Make Late Payments

Medley Developer Gets Final Deadline to Make Late Payments

Irondequoit, NY -- Town, school district and Monroe County officials are giving Medley Centre developer Bersin Properties, LLC, a final deadline to pay nearly $4 million in past due payments linked to his payment-in-lieu-of-taxes agreement.

Bersin Chairman and CEO Scott Congel was told in a letter (below) to pay up by May 1, or the tax agreement will be terminated. Congel was required under the agreement to make $165 million in investments on the property but has not done so.

The developer is offering slightly less than the local governments are demanding, and wants an amended and restated agreement that it says is critical to getting the financing it needs to redevelop the property.

 

 

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