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Queen City upgrades: Don't forget property taxes
Manchester developer Dick Anagnost continues his service to the city by identifying eyesores he can redevelop into wonderful economic assets. After turning the old Jac Pac property by the Queen City Bridge into the stellar Elliot at River's Edge, he is working to make a similar upgrade across Queen City Avenue.
Anagnost hopes to turn the old Queen City Motor Inn into a new medical facility, possibly a nursing home, a substance abuse rehabilitation center or an in-patient physical rehabilitation center. For readers unfamiliar with that property, here is a way to think of what such a change would mean. It would be like making a movie and suddenly discovering that you could replace Don Rickles with George Clooney in the top supporting role.
However, there is one catch. George Clooney might have a clause in his contract that requires you to keep paying him every year forever.
Non-profit medical centers don't pay property taxes. The Elliot at River's Edge would pay an additional $805,000 a year if it did not get to avoid property taxes by being under the Elliot Hospital non-profit umbrella.
The new development across the street would be a great upgrade for that important entranceway to the city, but aldermen need to be sure that yet another prime city parcel does not escape property taxation. If a “non-profit” business is to go there, it needs to make substantial payments in lieu of taxes.
Anagnost hopes to turn the old Queen City Motor Inn into a new medical facility, possibly a nursing home, a substance abuse rehabilitation center or an in-patient physical rehabilitation center. For readers unfamiliar with that property, here is a way to think of what such a change would mean. It would be like making a movie and suddenly discovering that you could replace Don Rickles with George Clooney in the top supporting role.
However, there is one catch. George Clooney might have a clause in his contract that requires you to keep paying him every year forever.
Non-profit medical centers don't pay property taxes. The Elliot at River's Edge would pay an additional $805,000 a year if it did not get to avoid property taxes by being under the Elliot Hospital non-profit umbrella.
The new development across the street would be a great upgrade for that important entranceway to the city, but aldermen need to be sure that yet another prime city parcel does not escape property taxation. If a “non-profit” business is to go there, it needs to make substantial payments in lieu of taxes.
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