FOR IMMEDIATE RELEASE
January 20, 2021
Statement from Mayor Noble Regarding
the Kingstonian PILOT Vote:
This morning, the Ulster County Industrial
Development Agency voted 6-1, approving the Kingstonian’s
Payment-in-lieu-of-taxes (PILOT) agreement. I would like to thank the IDA for
their thoughtful consideration and for recognizing the many strengths and
benefits that the Kingstonian will provide to the community.
This is a major step forward for the
Kingstonian, which will have myriad public benefits and will support several
key issues facing our City – the PILOT will provide millions of dollars in
additional revenue to the Kingston City School District; the development will
provide 14 units of affordable housing and 129 market rate housing units; the
parking garage will double the amount of public parking currently available in
that space; and the design will include public amenities such as an open-air
plaza and much-needed public restrooms.
I believe that the Kingstonian project has
improved through each step in its approval process, taking into account
considerable community feedback on design, adding an affordable housing
component, and making changes to the PILOT agreement that provide all taxing
jurisdictions with additional tax payments. I want to thank the local
developers for being willing to adapt this project and I also want to thank the
members of the public who have lent their voices to the public process. I
believe the end result will be the best project for the community at exactly
the right time for our Uptown Business District, and I look forward to seeing
the Kingstonian development move forward.