FINANCIAL_SERVICESPENDING

County of Rockland Industrial Development Agency Resolution Route 202 Professional Plaza LLC Project May 2026

IDA Inducement for Route 202 Professional Plaza Project

Exemptions of up to $1,423,750.00 in State and Local Sales Taxes on up to $17,000,000.00 of qualified expenditures; mortgage recording tax exemption of approximately $303,640.00 on a mortgage up to $30,364,076.84; PILOT amounts to be establishedRockland School District 382ROUTE 202 PROFESSIONAL PLAZA LLCMay 7, 2026

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Description

The County of Rockland Industrial Development Agency has adopted an inducement resolution to provide Route 202 Professional Plaza LLC with sales and mortgage tax exemptions and a future PILOT agreement for a $43.4 million warehouse and office project in Ramapo. Final financial assistance will depend on SEQRA compliance, public hearings, County Executive approval, and execution of definitive agreements.

Contract Details

Contract Amount

Vendor

ROUTE 202 PROFESSIONAL PLAZA LLC

Agency

Rockland School District 382, ID

Contract Type

FINANCIAL_SERVICES

Document Date

May 7, 2026

Contract Term

Inducement resolution effective upon County Executive approval and Company acceptance; resolution may expire 12 months from May 7, 2026 if not finalized; PILOT term to be set in subsequent agreement

Renewal Date

2027-05-07

Renewal Info

This is an inducement resolution for a straight-lease financing structure, not a renewable service contract. The resolution may be deemed expired if not acted upon within twelve months of May 7, 2026, and final terms, including PILOT duration, will be set in subsequent authorizing and PILOT agreements.

Issuing Agency