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December 12, 2008 - 1:04pm

Mill Street home of the Genesee County EDC sold, back on tax roll

posted by Howard B. Owens in business, GCEDC.

Roger Muehlig reports that the Genesee County Economic Development Center is selling its Mill Street headquarters and will lease back its office space from new owners.

The move paves the way for the property to move back onto the tax roles.

The  price: $675,000. The buyer: Harris Mill Street Properties.

A mortgage tax and sliding scale property tax exemptions package approved by GCEDC directors for the sale totals about $187,745. The largest part of that is an estimated $180,995 in property taxes on a sliding scale over a 10-year period.

The agency is considering relocation within the next three years to one of its other project locations.

Muehlig says that more than 35 new companies have been launched from the business incubator the GCEDC runs from the location.

The agency is working on at least three major development project in Genesee County.

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