Developer will receive $1.5 million in settlement with Kent
Michael Risinit
mrisinit@lohud.com
KENT – The developer of hundreds of planned townhomes in Kent will receive $1.5 million and up to 16 years of tax abatements as part of its legal settlement with the town over the project’s construction delays.
The Town Board last month approved settling the Kent Manor case. Details of the damages remained under a gag order imposed by state Supreme Court Justice Andrew O’Rourke until last week. A copy of the settlement agreement was filed Friday in the Putnam County Clerk’s office.
“I think the Town Board is relieved to have this case behind us. Now we can move forward with the town’s business,” Supervisor Kathy Doherty said today.
The town’s insurance carrier will pay $1.25 million and the remainder of the cash judgement will come from the town’s coffers.
Developer will receive $1.5 million in settlement with Kent | LoHud.com | The Journal News.
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It’s funny that the Journal News has buried this story. Okay, it’s not funny but it is curious.