Chronicle editor Mark Frost writes: The Glens Falls Industrial Development Agency approved the following tax benefits for Sonny Bonacio’s Spring City Development “Phase One” South and Elm Street projects that will redevelop the Sandy’s Clam Bar, Hot Shots, “incubator” and Juicin’ Jar buildings.
- 15-year PILOT — Payment in Lieu of Taxes — projected to save $1,580,234.00 in property taxes.
- Mortgage tax exemption — projected to save the developer $78,825, “based