Thursday, June 14, 2018

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Poughkeepsie IDA approves incentives for 40-unit apartment complex

POUGHKEEPSIE – Maple Street of Dutchess LLC is seeking financial incentives from the Poughkeepsie City Industrial Development Agency to build a 40-unit apartment complex at 462 Maple Street.

The R. L. Baxter Building Corporation is proposing the project and seeking a 15-year PILOT agreement.

The company’s Eric Baxter told IDA members Wednesday night the project will revitalize the area as the land has sat vacant for decades.

“The area we are looking to develop has been overlooked 20 to 30 years now with no new development there,” Baxter said. “We are hoping that this development spurs a lot of economic activity throughout that area.”

The IDA board also heard a proposal dubbed CNN Spruce LLC, for incentives for a three-story, 12,000-square foot office building and 18 apartments, next to another office building adjacent to Cosimo’s Restaurant.

The IDA board voted unanimously without comment to replace current board Chief Financial Officer William Brady, who is the city’s finance commissioner, with local businessman Ken Levinson.

 

 


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