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The Troy Industrial Development Authority approved an amended resolution extending the payment-in-lieu-of-taxes agreement for First Columbia 433 River Street, LLC, with two votes against and one abstention.
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The extension keeps the property's tax payments under the existing PILOT arrangement while renovation and occupancy work continues. The project representative said the building is expected to have a mix of new, retained, and construction jobs by the end of 2030, but no tenant has been secured for the former City Hall space.
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