ADAMS The villages calculations are in, and the prospects look gloomy for a payment-in-lieu-of-taxes agreement proposed by Michael A. Treanor in exchange for a new playground at his Pinehurst Apartments.
The Board of Trustees heard Monday night that the village and town taxes that could be negotiated for the agreement would do little for making such improvements.
Of the $9,800 in annual taxes that Mr. Treanor owes the village and town for the building, a hypothetical tax break of 3 percent each year would generate less than $3,000 over 10 years, not enough to make a deal worthwhile.
Theres not enough money to negotiate with him, Trustee Keith S. Perry said.
The potential agreement does not factor in the back taxes of more than $90,000 for the building that Mr. Treanor owes to the village, town and other entities, which loomed large over the boards discussions.
The numbers were presented by Mr. Perry, who said he and village Clerk and Treasurer Darlene M. Rexford spent several hours each tracking down all the necessary information to analyze the proposal. Despite asking the village to consider the proposal, Mr. Treanor left the tabulation of finances for such an agreement up to the village.
In addition to the playground, the PILOT agreement, of an unspecified value and length, also indicated that a scoreboard could be built for a nearby baseball field, though Mr. Treanor would not be involved in renovating the field.
Mr. Treanor has been behind on taxes and other bills for years, Mr. Perry said, after renovating the former school building in 2006.
The payments havent got better since then, he said.
The board unanimously approved sending the analysis to an associate of Mr. Treanor, effectively leaving the ball in his court about whether to proceed.
I think hell back out of this altogether, Mr. Perry said.
Mr. Perry, however, did leave the door open for other potential deals.
If he wants to do something else, that would be great, he said after the meeting. We could use another playground.
After the meeting, Mr. Perry said that he was glad the village did its homework to review the project, and that the goal was to give Mr. Treanor a fair opportunity with his proposal.
However, he said, the calculation painted a pretty ugly picture.
The board on Monday night also approved the transfer of $50,000 into the savings for the planned renovation of the villages fire hall. The villages Planning Board will discuss the project June 13, and the board will hold a public hearing to discuss a State Environmental Quality Review for the project on June 17.