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MegadealsSubsidy Tracker Individual Entry
Company: Bourne & Kenney Apartments
Parent Company:
Subsidy Source: local
Location: New York
City: NEWBURGH
Address: 150 Smith Street
Zip: 12550
Project Description: Construction; The PILOT is between the City of Newburgh and Bourne &Kenney per Section 125 of the Private Housing Finance Law of the State of New York State. The original sponsor of the project abandoned the project. The Agency was not advised that the project was abandoned or that the trustees filed to place the project in receivership (2009). The Court assigned a receiver. Subsequently a new management firm was retained. The Management firm provides the Agency with required reporting information. Average salary reported in 2019 is $47,000.
Year: 2019
Subsidy Value: $550,378
Program Name: Industrial Development Agencies
Awarding Agency: Newburgh Industrial Development Agency
Type of Subsidy: tax credit/rebate
Number of Jobs or Training Slots: 5
Wage Data: $35,000
Wage Data Type: yearly salary
Capital Investment: $8,500,000
Source of Data:
(click here)
Notes: Year is fiscal year. Subsidy value is total for the year of property tax abatements and sales tax exemptions less the net of payments in lieu of taxes. Jobs data is total current FTE. Wage data is estimated yearly salary created. See original source for further details on jobs and wage information. Description merges a general industry description with a project specific description as provided in the disclosure. Investment is total project cost.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.