Schoharie County's IDA will hold a hearing on the PILOT proposed for Sharon Springs Inc. Monday beginning at 6pm in the school auditorium.
Barring any last-minute surprises, this will be nearly the final step in granting SSI the 15-year payment in lieu of taxes developers said are essential to its $9.1 million renovation of the Imperial Baths as a modern, Korean-style spa.
The final step, said IDA Executive Director Ron Filmer, will be for the taxing entities with an interest in the project-the Town of Sharon, Village of Sharon Springs, Sharon Springs Central School, and Schoharie County, to pass resolutions approving the PILOT.
Since all have endorsed it, however, those votes are expected to be just formalities.
Mr. Filmer said SSI reps have asked to speak about the project at Monday's hearing; comments and questions on both their plans and the PILOT are welcome, he said.
The proposed PILOT calls for the creation of 40 fulltime jobs and a $9.1 million investment, both within 18 months.
The PILOT will be for 15 years with a seven percent increase in the property's tax assessment for years one through five and with an increase to 40 percent beginning in year six.
Monday's hearing will run until 7:30pm.