City of Binghamton Awards Financial Services Contract to Binghamton Saratoga Terrace Housing Development Fund Company (June 2026)

The City of Binghamton approved a 40-year payment in lieu of taxes (PILOT) arrangement with Binghamton Saratoga Terrace Housing Development Fund Company for the Saratoga Terrace affordable housing project. The agreement provides a property tax exemption in exchange for scheduled annual PILOT payments under a long-term leasehold interest.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

Forty (40) years commencing on the date of the Ground Lease

Renewal

Initial PILOT exemption term is 40 years from the Ground Lease date; any continuation beyond that term would require future legislative action or amendment.

Document type

AgendaPacket

Source document

City of Binghamton Legislative Branch Agenda Packet 2026-06-09

Related contracts

Other contracts from Binghamton Saratoga Terrace Housing Development Fund Company.

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City of Binghamton Planning Committee Meeting Agenda 2026-08-25

DISCUSSED

City of Binghamton, New YorkAug 25, 2026

City of Binghamton City Council Work Session Agenda 2026-07-13

PENDING

City of Binghamton, New YorkJul 13, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Binghamton?

Binghamton Saratoga Terrace Housing Development Fund Company was awarded this financial services contract by City of Binghamton, as recorded on June 9, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Binghamton Legislative Branch Agenda Packet 2026-06-09 (AgendaPacket), dated June 9, 2026 from City of Binghamton. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Binghamton Saratoga Terrace Housing Development Fund Company hold?

Binghamton Saratoga Terrace Housing Development Fund Company may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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