Malone town council considers tax breaks for apartments

The Malone Town Council is looking at a 40-year tax break for the new owners of the Indian Trails housing complex. Winn Companies of Boston plans to buy the apartments and then spend about $20 million on upgrades. But in exchange, they want the town, the village, Franklin County, and the school district to waive property taxes. The company would be in charge of paying for fire protection and plans to give back 10% of their quarterly earnings to the government. In May, Gov. Cuomo announced that Indian Trails was awarded a $9.5 million grant to help with renovations. Council members tabled the discussion about waiving the taxes until the town attorney can get more infomation.