CONSTRUCTIONAMENDED

Troy IDA Amends PILOT Extension for First Columbia 433 River St.

The Troy Industrial Development Authority approved an amended PILOT and financial incentive package for First Columbia 433 River Street, LLC, authorizing ten additional years of property tax abatement and up to $240,000 in sales tax exemptions. The contract will fund building upgrades, new commercial spaces, and job retention initiatives through 2039. Total estimated financial assistance is over $3.1 million.

Document date · February 20, 2026

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WithersRavenel logo
Derivita logo
Comcate logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
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Scope & details

The full contract record, as filed.

Contract amount
Sales and Use Tax Exemption up to $240,000; estimated total financial assistance $3,123,348.03 (including PILOT savings and sales tax exemptions)
Contract type
CONSTRUCTION
Contract term
10-year PILOT extension; sales tax exemption authorization expires December 31, 2027 unless extended; property tax abatement schedule through 2039
Renewal date
2039-12-31
Renewal
Prior amendments in 2016, 2017, and 2019; this action further extends PILOT and increases authorized sales tax abatement period to end of 2027.
Document type
Minutes
Source document
Troy Industrial Development Authority Board Meeting Minutes February 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by City of Troy?

First Columbia 433 River Street Llc was awarded this construction contract by City of Troy, as recorded on February 20, 2026. The contract value is Sales and Use Tax Exemption up to $240,000; estimated total financial assistance $3,123,348.03 (including PILOT savings and sales tax exemptions).

How much is the First Columbia 433 River Street Llc contract with City of Troy worth?

The First Columbia 433 River Street Llc contract with City of Troy is valued at Sales and Use Tax Exemption up to $240,000; estimated total financial assistance $3,123,348.03 (including PILOT savings and sales tax exemptions), covering construction work.

What type of contract is this?

This is a Construction contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Troy Industrial Development Authority Board Meeting Minutes February 2026 (Minutes), dated February 20, 2026 from City of Troy. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Columbia 433 River Street Llc hold?

First Columbia 433 River Street Llc 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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