Ball Metal Beverage Container Corp. v. Assessor for the City of Saratoga Springs

OPINION OF THE COURT

Thomas D. Nolan, Jr., J.

In May 1996, Ball conveyed a 24.5 acre parcel, the site of its manufacturing and warehouse facility, to the industrial development agency (IDA) and, as part of the financing trans*43action, leased back the property for 10 years. Also, as part of the transaction, Ball and the IDA entered into a “Payment in Lieu of Tax [PILOT] Agreement” in which Ball agreed to make certain annual payments to the IDA in lieu of paying city, county, and school taxes on the property which, by virtue of the IDA’s ownership, would become and became tax exempt. The PILOT…