Latest Breaking News On - Vesta trackside - Page 1 : comparemela.com

manich@leaderherald.com JOHNSTOWN The Common Council in special session Thursday night approved two Payment In Lieu of Taxes agreements with the new managers of the Trackside Homes I and Trackside Homes II housing complexes. Action followed a presentation Monday night during the council’s regular meeting at City Hall by Lewis Brown of the Vesta Corp., which is taking over ownership of the Trackside units. The council had to wait until Thursday to approve the PILOTs because resolutions hadn’t been drawn up Monday night. The council Thursday night first approved the agreement for Trackside I. The resolution indicated that Vesta Trackside LLC will “develop, own, rehabilitate and operate” the low-income complex. The 20-year PILOT is in the amount of $39,000 increasing by 2 percent annually payable to the city on or before March 1 of each year. Trackside I has 96 one-bedroom units; while Trackside II has 21 one-bedroom units and 89 two-bedroom units.

New yorkUnited statesMax spritzerKathi iannottiVern jacksonBradley haynerLewis brownVesta tracksideVesta corpCommon councilPayment in lieuTrackside homesCity hallWard councilman max spritzerWard councilman bradley haynerEast coast