The clock is running down on Bersin Properties, owner of Medley Centre.
Bersin's plan for the Irondequoit site includes a hotel and a possible theater for Rochester Broadway Theatre League. But the project has faced setbacks and controversy from the outset.
Bersin has until May 1 to make $3.9 million in outstanding payments to the Town of Irondequoit, East Irondequoit School District, and the Monroe County Industrial Development Agency. Otherwise, the town and school district could ask COMIDA to terminate Bersin's tax-incentive agreement.
The $3.9 million includes a $3.5 million penalty for missing a major investment milestone. It also includes the company's $392,381 annual payment.
Bersin's principal, Scott Congel, has been pushing for an amended tax-incentive agreement and has tried to negotiate the penalty payment. He says an amended agreement is necessary to get financing for the project. But local officials are running out of patience with Congel.
Last week, state Assembly member Joe Morelle asked officials with the state economic development agency to investigate whether Bersin Properties should keep getting Empire Zone tax credits. Morelle questioned whether Bersin has lived up to job-creation promises.
Bersin Properties has received $4 million in credits since 2004.