developmentHigh priorityopen

Supplemental Financial Assistance for 504 Broadway Project

Troy

Summary

The IDA approved an extra $100,000 in sales tax exemptions for the commercial development at 504 Broadway because of rising construction costs.

At a glance

Last discussed Feb 20, 2026.

💰Financial impact

Increases sales tax exemption benefits by $100,000, bringing total sales tax exemptions to $480,000.

✅Who benefits

The developer, 504 Broadway Holdings, LLC, benefits from reduced tax liability during construction.

The IDA approved an extra $100,000 in sales tax exemptions for the commercial development at 504 Broadway because of rising construction costs.

Adjusts total allowable sales tax exemptions to $480,000 and total project expenditures to $10,617,685.

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