Once again, a Finger Lakes county industrial development agency has subsidized a wealthy developer, leaving taxpayers on the hook.
Citing delinquent payments, the Cayuga County Industrial Development Agency decided last week to terminate its payment in lieu of taxes agreement with Ontario Realty, Inc., owner and operator of the Sterling Renaissance Festival.
Here's an idea: let's terminate all the industrial development agencies and give the money back to the taxpayers.County director of Planning and Economic Development Stephen Lynch said Monday that the company did not make scheduled payments totaling $27,000 to the county and town of Sterling in February 2011 and 2012 and the Hannibal Central School District in September 2011.
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