Statement from James Smith, director, City of Rochester Communications 
Special Events Bureau

The City of Rochester provides/provided the following tax breaks, assessment reduction
and/or loan interest forgiveness to Geva Theater directly or indirectly:

In 2016, Geva entered in to creative financing arrangement for their $9.23 million
renovations which required the City of Rochester agree to waive $77,416 per year
in property taxes by signing an agreement with the County of Monroe Industrial
Development Agency (COMIDA) for a PILOT on this property. This $77,416
waiver of property taxes does not include county property taxes which would be
approximately another $23,000 in additional benefit to Geva. These tax waivers
will occur annually for seven years under the COMIDA agreement.

(In addition to city support, this project?s funding included additional government
assistance of $3.32 million in New York" State and Federal historic rehabilitation
tax credits.)

In 2016, Geva Theater Center, Inc. requested the city give a 100% tax exemption
for the properties at 10 14 Capron Street. The exemption was for housing tied
to Geva?s Artist in Resident program and would accommodate the actors, directors
and designers Geva hires from out of town to support their productions. This
amounts to an exemption of $50,400 per year in city taxes and does not include
county property taxes which would be approximately another $15,000 in additional
benefit to Geva per year.

In 2015, the City of Rochester Provided Geva with a $30,000 grant for the Sun
House Festival, which was a one-time event that has not recurred.

In 1984, the City of Rochester engaged in a loan agreement with Geva Theater for
a $600,000 loan to renovate their existing building. This principal loan amount has
been amended over the ensuing years and now stands at $729,622 owed to the
City of Rochester and its taxpayers by Geva at a 3% rate. Over time, the city has
waived an additional $897,429 due to be paid to the city. In total, Geva has made
only $175,108 in cash payments on this debt and has instead paid some of the
remaining interest due by offering the City tickets to shows, which the city uses to
bring City school and recreation center children to the theater. In practice, these
tickets are generally for matinee shows, however are valued by Geva at face value
at premium ticket prices. While this loan was originated in 1984 it was renewed in
1991 and again in 2014 and remains outstanding.

This summary was compiled with information provided by the City Assessor?s Office,
Department of Finance, Bureau of Communications Special Events and Department
of Neighborhood and Business Development.