I-Square developers intend to sue Reilich, Monroe Co. GOP
Irondequoit, N.Y. - The developers of I-Square intend to file a lawsuit against Monroe County GOP Chairman Bill Reilich, stemming from comments he made last week.
"I fully intend to sue Bill Reilich and the Monroe County GOP," developer Mike Nolan said Monday.
Following the appointment of Irondequoit Town Supervisor Adam Bello to Monroe County clerk, Reilich released a statement which, in part, called I-Square a "failing" project.
Developers Mike and Wendy Nolan subsequently released a statement saying the words were "damaging" and "not true."
Reilich and COMIDA said I-Square is in default. They said the second of three buildings constructed as part of the project does not meet with agreed-upon specifications.
Mr. Nolan said Monday he has gone over I-Square's contract multiple times in the last few days and said the project is in total compliance with COMIDA. He said he has never heard otherwise.
Following Nolan's response, Reilich issued the following statement:
The issue I raised with I-Square was not with the developer, but rather with Adam Bello, who is abandoning them during a time of great need. Despite appearances, the documents released by COMIDA clearly show that the project is in jeopardy and has failed to fulfill its promises to the taxpayers. It is no secret that I-Square received millions of dollars in taxpayer assistance through abatements and grants from the Town, School District, County, and State. I certainly recognize the need for that assistance given the State's dismal business climate, but I also know that taxpayers demand accountability for their investments.
COMIDA issued a statement of its own:
The COMIDA Audit Committee has a disciplined process for reviewing every PILOT agreement on a regular basis. The results of this audit are reported at the COMIDA board meeting annually.
As it relates to I-Square, LLC, COMIDA counsel has confirmed that an Event of Default has occurred as it relates to the 2nd Building. The memorandum provided states that I-Square, LLC is behind on its capital investment for the project (see attached memo). We look forward to working with all involved to address this issue in an appropriate and prompt manner.
Nolan said he has tried contacting COMIDA three times Monday and has not heard back.