Summary
The city considered amending its site development agreement with Kearney Realty & Development Group and a PILOT deal — a tax break in exchange for development. PILOTs shift who pays property taxes, so the terms matter to every taxpayer.
At a glance
- Total mentions
- 4
- Last 30 days
- 0
Last discussed May 11, 2026.
Impact analysis
A PILOT agreement would reduce the property taxes the developer pays compared to full assessment, with the exact terms not stated in the agenda.
The developer and, depending on the deal's terms, residents who gain from new development funded partly by the tax arrangement.
If the PILOT terms are generous, other taxpayers could shoulder a larger share of the tax burden.
Mentions & discussions (4)
City Council - May 11, 2026
The Council took up an amendment to the site development agreement and a PILOT tax agreement with Kearney Realty & Development Group — arrangements that shape a private development project and its property tax treatment.
City Council - May 7, 2026
The council was to consider a second amendment to a site development agreement with Kearney Realty & Development Group for properties at 137 Smith Street and 140 and 146 Montgomery Street, plus a payment-in-lieu-of-taxes agreement for Newburgh Green Apartments. PILOT deals shape how much tax revenue the city collects from redeveloped affordable housing.
City Council - Apr 27, 2026
A second amendment to the Kearney Realty site development agreement plus a PILOT tax deal for the Newburgh Green Apartments project covering properties on Smith and Montgomery Streets.
City Council - Apr 23, 2026
The city considered amending its site development agreement with Kearney Realty & Development Group and a PILOT deal — a tax break in exchange for development. PILOTs shift who pays property taxes, so the terms matter to every taxpayer.
Related development
Kearney Realty Site Development Agreement Amendment (137 Smith Street; 140 and 146 Montgomery Street)
The deal could shape a significant development in the city, with the PILOT terms determining how much property tax revenue the city forgoes.
Kearney Realty Site Development Agreement Amendment and PILOT Agreement
The deal could shape a significant development in the city, with the PILOT terms determining how much property tax revenue the city forgoes.
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