Senior Citizen Housing Taxes Face Possible Discontinuation

Redevelopment plans for Gates Circle has been giving government and other local officials a headache. They have been trying to determine whether it is righteous to provide senior citizen homes with tax exemptions.

TM Montante Development spearheads this project, with a budget amounting to $63 million. Twenty eight million ($28 million) is allocated for the development of a senior citizen home at Canterbury Woods and transforming the Millard Fillmore Hospital into a campus to cater to elderly residents. The said hospital at Gates Circle will be having 550 units ranging from apartments to condominiums to serve the elderly.

After the result of the study by the Regional Institute at UB was released, government officials are trying to figure out if it still is important for IDAs to support senior citizen housing in Erie County. The result concluded that around 1% of senior citizens move out from the county because of expensive housing which they could not afford.

Read “Senior housing tax breaks at Gates Circle?”  for more details.