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Rochester Tower LLC to receive $4.125 Million TIF

City of Rochester logoCity of Rochester
Disclosed value
$4,125,000
From contract
Document date
Jan 1, 2025
Term
Until February 1, 2054

The 30-second brief

What it covers

Rochester Economic Development Authority (EDA) agrees to defray up to $4,125,000 of the Development Costs by issuing the TIF Note to the Developer, as registered owner thereof, substantially in the form set forth in Exhibit B attached hereto, the issuance of which is hereby authorized and approved, subject to certain conditions. The TIF Note shall bear simple, non-compounding interest at a rate equal to the lesser of 6.50% per annum.

Who holds it

Rochester Tower holds this tax increment financing contract with City of Rochester.

What happens next

Term as filed: Until February 1, 2054.

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Contract details

Contract type
Tax Increment Financing
Amount
$4,125,000
Document date
January 1, 2025
Term
Until February 1, 2054
Vendor
Rochester Tower
Agency
City of Rochester
Source document
city-of-rochester-purchase-and-development-assistance-agreement_b9e.pdf (Contract)

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Questions about this contract

Who was awarded the tax increment financing contract by City of Rochester?

Rochester Tower was awarded this tax increment financing contract by City of Rochester, as recorded on January 1, 2025. The contract value is $4,125,000.

How much is the Rochester Tower contract with City of Rochester worth?

The Rochester Tower contract with City of Rochester is valued at $4,125,000, covering tax increment financing work.

What type of contract is this?

This is a Tax Increment Financing contract, documented as a contract record.

Where was this contract approved?

This contract appears in city-of-rochester-purchase-and-development-assistance-agreement_b9e.pdf (Contract), dated January 1, 2025 from City of Rochester. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Rochester Tower hold?

Rochester Tower may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Rochester currently buying?

Explore City of Rochester's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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