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Deal sealed for Sibley building


The board of the Monroe County Industrial Development Agency unanimously approved a tax deal last week for the developer of the Sibley building downtown. | The COMIDA agreement sets a baseline tax payment that increases as the building is redeveloped and leased. | Boston-based Winn Development closed on the Sibley building on East Main Street last month. A limited partnership formed by Winn will re-develop the historic 12-story building for retail on the first and second floors, residential on the upper floors, and office space. | The building will also house a police substation, which should open in July 2013. | Monroe Community College occupies two floors in the Sibley building, and recently signed a new five-year lease. The college's Board of Trustees has voted, however, to move the Damon Campus to Kodak property on State Street after that lease expires. College officials, including President Anne Kress, still seem set on the move, yet Winn Vice President Joseph Eddy referred to MCC's "ongoing site-selection process" during last week's COMIDA meeting. | Winn paid $5 million for the Sibley building and will immediately begin $3 million in repairs and maintenance.