Pearl River School District Director of Operations Quinton Van Wynen will recommend approving a Payment In Lieu of Taxes (PILOT) agreement with Cerovene, Inc. for the property at 10 Corporate Drive in Orangeburg at the board of education meeting 7:30 p.m. tonight in the district administration building.
The agreement was reached during discussions among Van Wynen, Orangetown Assessor Brian Kenney, Steve Porath of the Rockland County IDA and Cerovene ownership. In the past, the town has waited for the school district to sign off on a PILOT agreement before giving its own approval.
The IDA had already worked out other tax benefits for Cerovene, a pharmaceutical company which currently leases a property in Valley Cottage. Read more about that agreement, Cerovene and the planned renovations to the building at 10 Corporate Drive in this report on Patch.
Under the 10-year agreement, Cerovene would be taxed an estimated $100,826 in 2014, then increase by two percent each year until it reaches $167,219 in 2023. The property would be fully taxable in 2024. The district memo with the PILOT schedule is available through the district website here.
Tuesday's session is the last Pearl River Board of Education meeting of 2013, with the next one scheduled for Jan. 7, 2014. The full agenda is available here. Students from Pearl River Middle School are scheduled to make a presentation about the role of plants in the water cycle.
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