Manhattan city commissioners on Tuesday will decide whether to give incentives to a project to redevelop the Commerce Bank building at Eighth Street and Poyntz Avenue.
Officials from Hartfield LLC are requesting up to $15 million in industrial revenue bonds and a 10-year property tax abatement to turn the downtown building at 727 Poyntz Ave. into a retail and residential space.
If passed, the ordinance would allow the developer to pay taxing entities a total of the roughly $2 million 2024 value of the building over the next 10 years.
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