Page 8 - Crestwood Plaza News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Developers make the case for TIF ahead of Crestwood mall public hearing tonight
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Dierbergs Markets, McBride Homes seek $17M in subsidies for $67M Crestwood Mall redevelopment
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The new Crestwood mall redevelopment plan was taken by courier to the members of the Crestwood TIF Commission Friday, giving the public both a price tag and concrete financing from a bank.
Developer Dierbergs proposes a $67 million redevelopment of half the 46-acre site with $17 million in tax incentives, including $13.5 million in tax-increment financing and $3.5 million in a 1-percent Community Improvement District sales tax.
Past developers of the site have struggled with financing, but First Bank which is owned by the Dierberg family wrote a letter to the city included in the plan that guarantees financing if the TIF is granted. Three would-be developers have come and gone since 2013, when the mall closed.
Bagel shop opening in Albany s Whitehall neighborhood
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Small-Batch Bagel Shop Coming to Albany
Ask anyone in the Capital Region who makes the best bagel in town, and you re sure to get a variety of answers. Some may say its Bruegger s with their few remaining places in the Capital Region, while other people will tell you that Price Chopper/Market 32 has some of the best bagels in town. Or maybe it s the small mom-and-pop that sits on the corner of a town or village out in the country. Whatever you crave, I hope you re able to to find it. But if not, a new bagel option in the Albany area will be popping out fresh bagels in a few short months.