Agency mulls tax breaks for warehouse developer

Apherea and RTH Realty Holdings are seeking more than $260,000 in relief for their project in Highland.

KINGSTON, N.Y. » The Ulster County Industrial Development Agency this week is to review a request for more than $260,000 in tax breaks for a proposed real estate staging warehouse in Highland where furniture would be stored.

The IDA meeting is scheduled for 9 a.m. Wednesday. It will be held via videoconference and can be viewed by ay of a link posted at www. ulstercountyida.com.

The 12,000-square-foot warehouse is to be built on 3.5 acres at 323 Upper North Road in Highland by developers Apherea and RTH Realty Holdings LLC at a cost of just under $3 million.

The developers are asking the IDA for a 10year payment-in-lieu-oftaxes, or PILOT, deal that would result in a savings of $241,516 on property taxes, as well as a waiver of $20,002.50 in mortgage recording taxes.

The developers says the warehouse would include space for gallery use, events, offices and production.

“[Apherea’s] primary services involve the inventory of furniture and furnishing in order to stage for real estate,” the application to the IDA states. “Additionally, the company provides rental furniture for builders, developers, productions companies, Airbnb hosts, real estate agents and members of the trade.”

The application also says the building would be a “model in energy efficiency.”

The developers say five people would be employed to operate the warehouse and that part of the business plan is donating furnishings to public-benefit groups.

“There will be an ongoing charity component in which gently used furniture will be donated to local foster care agencies and nonprofits looking to transition people from homelessness into permanent shelter,” the application states.