By Jann Wiswall
The board of directors of the Cattaraugus County Industrial Development Agency (CCIDA) approved applications for NYS Sales Tax Abatement from HoliMont, Inc. and 7 Washington Street, LLC, which is renovating the 1887 Building.
HoliMont applied to the agency for abatement of sales taxes on the materials and supplies that are being or have been purchased for machinery and other upgrades, waterline replacements and other snow-making improvements, relocating the beginner lift, improving the lift hut, wetland improvements and phase 2 work at WestMont Ridge. The total project cost/investment comes to approximately $450,000.
The board agreed that the project is consistent with CCIDA policies and IDA legislation and that the project will enhance and control overhead and operating costs of the resort. The project also will create construction employment, generate sales tax revenues and enhance the property tax base.
The owners of 7 Washington Street, LLC – Peter Krog and John Northrup – also applied to the CCIDA for sales tax abatement on materials and supplies purchased for the renovation of the 1887 building, which is being converted to condominiums. The $3.6 million project falls under the IDA’s Adaptive Reuse Policy.
Again, the board felt the project met its policies and agreed that the project will result in several local construction jobs as well as up to five new employees to manage the building. The board and CCIDA Executive Director Corey Wiktor also agreed that the renovation will “restore/preserve a key building in the Village of Ellicottville ‘footprint.’”
The next meeting of the CCIDA board will be held on Tuesday, Oct. 20 at 11:15 a.m. at the CCIDA offices in Ellicottville.