After one of Rochester’s leading development agencies failed to pay $700,000 for its CityGate project, Imagine Monroe has terminated this multi-million dollar tax break per request from the City of Rochester.
The tax deal with developer Anthony J. Costello & Son was cancelled on Tuesday.
These agreements aided the 550,000 square feet development project on East Henrietta Road at Westfall Road in the City of Rochester.
According to the termination notice, as part of the agreement CityGate was not responsible for making payments on the Costco and Five Star Bank properties as part of the deal that was supposed to last 20 years.
News 8 reached out to Costello & Son for comment and did not receive a response.