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Architects drawings of the front of the proposed casino and resort.
by Joe Siccardi
Reveille Between the Lakes
The Seneca County Industrial Development Agency (IDA) approved a financial benefits package to the developers of Lago Resort & Casino if it receives a casino license for the project in Tyre.
The deal includes exemptions of sales tax on materials, supplies and equipment; mortgage recording tax; and a yet to be determined tax agreement.
Once the details are completed, a public hearing will be scheduled.
Wilmorite, developer of the project, plans on making a one time $13.3 million infrastructure improvements.
The board also approved offering an incentive package to Scepter for expansion of its recycling plant on Lamb Road, Seneca Falls. The agreement includes a sales tax exemption, mortgage recording fee exemption and freezing current tax levels for 10 years and phasing it to full rate over the next five years.