Beacon affordable housing complex to undergo renovation
Three weeks after rejecting the proposal, the board of the Dutchess County Industrial Development Agency (IDA) last month approved an agreement with Related Companies that will save the firm $472,000 in sales taxes on the acquisition and interior and exterior costs associated with its $14.5 million rehabilitation project at Tompkins Terrace, the 193-unit affordable housing complex in Beacon.
The board initially rejected the tax break at its May 23 meeting, saying it had questions about a financing partner, said Sarah Lee, the IDA executive director. Once those questions were answered, she said, the board agreed that the credit was appropriate.
