G&S Unit 4A 'Firehouse' foreclosure and insurance
Port Chester
Summary
The last remaining G&S PILOT property is in default and facing foreclosure, with about 20 months of PILOT left. Counsel suggested the owner exit the PILOT early to keep the IDA out of the foreclosure fight, and a slip-and-fall claim against the property is being monitored.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Apr 8, 2026.
Impact analysis
Remaining PILOT benefit is described as de minimis; the IDA carries a $5 million liability policy on the property.
Taxpayers, if the PILOT ends early and full taxation resumes sooner.
The property owner facing foreclosure and potential liability exposure.
Mentions & discussions (2)
Industrial Development Agency - Apr 8, 2026
The last G&S property is in foreclosure with about a year left on its PILOT. The agency reviewed its insurance exposure, decided to get a supplemental liability quote for June, and considers the matter otherwise concluded.
Industrial Development Agency - Mar 11, 2026
The last remaining G&S PILOT property is in default and facing foreclosure, with about 20 months of PILOT left. Counsel suggested the owner exit the PILOT early to keep the IDA out of the foreclosure fight, and a slip-and-fall claim against the property is being monitored.
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