PILOT for development?
Thursday, June 21, 2012 - 3:08 pm

In a Daily Courier-Observer article of June 13th, about the proposed PILOT for a $20 Million dollar housing development in the town, Councilwoman Judith R. Rich said: “I don’t like the idea. I bet you these people would build anyway.” According to the terms of the PILOT, what is possibly being “bet” on is whether in year one the town gets around $30,000, or $50,000 or zero or enough money to repay the total anticipated expenditure on the new Town Hall in about 42 years instead of 40 years without the PILOT. Looking long term, this seems like a safe “bet”.