[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6371102,"mediaKeyId","2150196-d7890501d790376fb249351d3c6b27e7","parentId",2150196,"title","IURA approves loan changes for GreenStar and $100,000 loan for Ithaca Coffee Company; board amends Cinemapolis lease tax responsibility","audioSeconds",273,"startMs",71000,"endMs",344000,"viewUrl","/Search/View?dp=1&key=2150196-d7890501d790376fb249351d3c6b27e7&start=71&end=344","thumbnailUrl","https://assets.pipeline.soar.com/2150196-d7890501d790376fb249351d3c6b27e7/thumbnail_71000.jpg","articleUrl","/articles/6371102/New-York/IURA-approves-loan-changes-for-GreenStar-and-100000-loan-for-Ithaca-Coffee-Company-board-amends-Cinemapolis-lease-tax-responsibility","mediaUrl","https://secure.pipeline.soar.com/6371102-8b67f571bd340363cdf4cfef45424bc9/orig.mp4?Expires=1770978592&Signature=m0YJCVIbnG9LyZgfWoTOTBFTe608au3XlE4t0PBUSJe3FyDiEJWH03edgd4x7-NQ98fNrOzFXv4SBlrJp5S4reogr8lLGpY5gcAFoKtTubmNUJ1tbR0pDhK7WQV8fNhaC3iQ0iSeyU9vODzsJEaVfjUnjlNNPxjLbADSKaDOmANNUY~ME6deSZ79mh2~5YWCLx9AgqdtuuAGRehPLHuMti1rVFjyXXRyr3Zw3kaDBLs1-vo7ewLx5xRdltqpAWTtHE4s7FH8SS-SktLuxHZKFjccDvC-KZLJDpm-FpOFgvoaR5ymjkxoIgqrv9w9JQ6v94HWAcuxPXQVmZLRU7hSbg__&Key-Pair-Id=KUT5TJCACFTXG","author","Ithaca City","date","2025-01-25T17:16:33.713Z","article","The Ithaca Urban Renewal Agency on Wednesday approved several community-lending and lease-amendment items, including a change in loan purpose for GreenStar and a $100,000 loan to Ithaca Coffee Company to convert space at 702 Hancock Street into a retail espresso bar.

At an Economic Development Committee meeting, members supported amending the Cinemapolis lease so the theater would no longer carry the property-tax obligation; staff said the intent is to transfer that responsibility to the parking/owner structure so the county Industrial Development Agency can implement a PILOT (payment in lieu of taxes) agreement. The board approved the amendment by voice vote.

On lending, staff described GreenStar’s original loan as intended for job creation but said COVID-era business changes led the farm-to-table operator to document job retention instead. Committee members said changing the loan to a job-retention loan was administratively straightforward and recommended approval; the board adopted the recommendation.

The board also approved a $100,000 loan to Ithaca Coffee Company to renovate 702 Hancock Street for a retail espresso bar and move retail operations from the Triphammer (Trofhammer) location. Staff said the loan is consistent with recent retail loans (typically $75,000–$150,000) and that the agency applies a public-benefit test of approximately $35,000 per job created or retained. Staff said the project is expected to support about 3 full‑time equivalent (FTE) jobs. The loan's interest rate was described as 75% of the prime rate, quoted as 5.6% at the time of the meeting, with an eight-year term.

The approvals took place during the committee reports portion of the meeting. Staff noted that many recent retail loans fall in the same loan-size range and that the Ithaca Coffee Company’s renovation includes construction and equipment purchase.

","mediaType","Video","parentTitle","IURA Board Mtg.","oneSentenceSummary","The Ithaca Urban Renewal Agency approved loan adjustments for GreenStar and a $100,000 loan for Ithaca Coffee Company and amended the Cinemapolis lease to shift property-tax responsibility, the agency reported Wednesday.","taxTitle","Ithaca City, Tompkins County, New York","taxId",52738,"location","New York","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6371106,"IURA tables decision on Inland island redevelopment after developers outline redesign",4913,521000,5434000,"/Search/View?dp=1&key=2150196-d7890501d790376fb249351d3c6b27e7&start=521&end=5434","https://assets.pipeline.soar.com/2150196-d7890501d790376fb249351d3c6b27e7/thumbnail_521000.jpg","/articles/6371106/New-York/IURA-tables-decision-on-Inland-island-redevelopment-after-developers-outline-redesign","https://secure.pipeline.soar.com/6371106-bf1c3cb4e1b7bf2aed5cfa161d6be499/orig.mp4?Expires=1770978592&Signature=OHDwD1csfFzeqGTTYfcf0Bz9DIRs6e0t-bKYWSj2uJ-WpvKH78i6U-gDLdp5eMlcMT3MueXR2FoQi20l6Hn1vAkmnBZQYGWIS1tCfFRFAABNkjWbzqfteOB7d8OASKj8B9Nb8cvfKLyVgttxXazse1irptl3UOc5wQ7EQtQTkdquntL3AWoofEuCmE6r6qaIhIzwtrKhjKffOkBxnsH~2K7V~KEx4ahKUQHXy2YsyDeGkpbftEYr~Fj5EC9Tera3BQS-WHe0a1s2iQzxeqsQJJ10SXupioZaLK6JoQp96I8j0w3NSHHoPCVUrPv8JwoaG309tsv0A5WFoWAWAPYzxQ__&Key-Pair-Id=KUT5TJCACFTXG","The Ithaca Urban Renewal Agency on Wednesday postponed a vote on whether to terminate its exclusive negotiation agreement for the Inland island redevelopment after developers and agency staff outlined redesigned plans, remaining engineering steps and outstanding feasibility questions.

The project team — including developer representatives Steve (surname not specified), Neil Patel of Baywood and a developer identified only as Jeffrey — told the agency they had redesigned the hotel from five stories to four, obtained soil borings from Ithaca Neighborhood Housing Services (INHS) and opened talks with a potential hotel partner. \"We have a good understanding,\" the developer Steve said, summarizing the team’s progress. Neil Patel said the group \"came on board about a month ago\" and is working to fast-track design and cost estimating.

Agency staff described the principal unresolved issues. Nels (agency staff) told the board: \"If we think there's a better than 50% chance this is going to proceed, it makes sense to provide some sort of time extension,\" and recommended structuring any extension with incentives that demonstrate developer commitment. Staff and members emphasized three technical constraints: floodplain changes that require the building to be elevated, a half-acre of contaminated soil on city land that will require remediation, and transportation/parking impacts along the nearby state highway (referred to in the discussion as Gallant Boulevard).

Developers said the revised design lowers construction loads and reduces height to meet the updated flood maps, but will require engineering work to determine foundation design and how to reconfigure parking and site circulation once the building is elevated. \"We have not yet taken the new, redeveloped building … and determine how many spots we know we're gonna lose,\" one developer said, noting the next step is coordinated engineering and cost estimating.

Board members repeatedly raised the affordable-housing and waterfront public-access goals tied to the original project. Several members said preserving the project’s affordable-housing component and activating the waterfront walkway were key public benefits that the IURA sought to protect. Developers said the project still aims to include affordable units and waterfront improvements including kayak access and improved walkways, and that the hotel component is needed to make public improvements financially feasible.

After extended discussion about whether to terminate the exclusive negotiation agreement and restart the RFP process — which members warned could add years to the schedule — the board voted to table the termination resolution and asked the development team to provide a written conceptual plan and schedule in advance of the March agency meeting. The board set an expectation that the agency receive the conceptual submission several business days before the meeting so committee members have time to review it.

The action preserves the existing exclusive negotiation agreement for the near term and directs staff and the developers to pursue the planning‑department meeting and revised conceptual submittal described in the discussion. The agency said if the developers cannot document feasibility or the city is unwilling to meet required commitments, it will revisit the disposition and procurement options.

What’s next: The IURA requested a conceptual plan, engineering assumptions and a schedule to be submitted in time for review before the March meeting. The agency said that if the submission demonstrates feasible, financeable design and public-benefit commitments, it will reconsider the termination; otherwise it may reopen the site to a new procurement process.

","The Ithaca Urban Renewal Agency on Wednesday postponed a vote on whether to terminate its exclusive negotiation agreement for the Inland island redevelopment after developers and agency staff outlined redesigned plans, remaining engineering steps and outstanding feasibility questions.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6371100,"IURA governance committee approves consultant and legal contracts; neighborhood program extended through 2025",364,5436000,5800000,"/Search/View?dp=1&key=2150196-d7890501d790376fb249351d3c6b27e7&start=5436&end=5800","https://assets.pipeline.soar.com/2150196-d7890501d790376fb249351d3c6b27e7/thumbnail_5436000.jpg","/articles/6371100/New-York/IURA-governance-committee-approves-consultant-and-legal-contracts-neighborhood-program-extended-through-2025","https://secure.pipeline.soar.com/6371100-7420c9748d993aa72d6a977523baa41b/orig.mp4?Expires=1770978592&Signature=g8kUqfObAyBcsX5kQRcmVE5I01-6XpFklVS2E4m~hQdh6ihIUIAvofIvnHbI7dVJ-wvaw-A~QGspu6sglEMABgK-qoo~X5oMBcuwnNoqbCFmucjNkoLgkwpHO8Lu5xwCDg-rIB6mFOG2ZMiwXY9ad0uOGmwsHPZ4tYsVKr0BZOmHJOyTV~wiW5cQQmb~t1VM6pZiHM7grAS1ITUqnfeFtRog4L4AIn~9nIwvJYY-GxTzFmystvYdSOUlEyUdf5EZFBJBQxRorTT4kRzAFrpO87YC2gGO6v-WA9kBhFw4Ro4~JEqHrloGCX0CabBQLaAYAxDbhO86aNRpmVhgncbq4w__&Key-Pair-Id=KUT5TJCACFTXG","The Ithaca Urban Renewal Agency on Wednesday approved administrative and programmatic items advanced by committee reports, including vendor contracts, a year-long extension for a homeowner-rehab program and a change to public hearing procedures.

The governance committee recommended a contract renewal for Harrison Studio to continue underwriting assistance to the agency; staff reported the firm’s rate at $185 per hour for partner work and a slightly lower rate for underwriting. The agency also approved two part‑time legal consulting contracts: one with Mariette Geldingheis (rate increase noted) and one with Sharon Solomis (rate unchanged). The board voted to adopt those contract renewals as presented by the governance committee.

The Neighborhood Investment Committee recommended a one‑year extension for a homeowner‑rehab program administered by INHS (Ithaca Neighborhood Housing Services) because the nonprofit reported difficulty completing bids and meeting original timelines. Staff said INHS had completed three projects, had two more out to bid and requested extra time to finish work; the committee recommended extending the contract to Dec. 31, 2025.

Committee members also recommended adjusting the public‑hearing presentation format to an eight‑minute presentation followed by a guaranteed four‑minute question-and-answer period. The committee said collecting questions in advance and sharing them with applicants would make hearings more efficient and allow better‑informed presentations.

In other administrative updates, staff reported loan and lease repayment status (one loan two months late) and progress on a shared‑kitchen project that had secured private fundraising and Appalachian Regional Commission funding for equipment.

","The IURA’s governance committee approved annual contracts for underwriting and part-time legal services and the Neighborhood Investment Committee recommended a one-year extension for a homeowner-rehab program. The agency also adopted a revised format for public hearing presentations (eight-minute presentation, four-minute Q&A).","actionData","errors"]

Article not found

IURA approves loan changes for GreenStar and $100,000 loan for Ithaca Coffee Company; board amends Cinemapolis lease tax responsibility

IURA tables decision on Inland island redevelopment after developers outline redesign

IURA governance committee approves consultant and legal contracts; neighborhood program extended through 2025