Genesis Health Clubs seeking sales tax break in Manhattan

Genesis Health Clubs wants the city to issue industrial revenue bonds so it can get a sales tax exemption on construction materials for its new gym.

The Manhattan City Commission will consider the request during its meeting at 7 p.m. Tuesday at City Hall.

Genesis recently submitted an application for $12 million in industrial revenue bonds from the city “to counteract rising construction costs.” As part of the bonding process, gym officials projected $525,000 in savings through a sales tax exemption on construction materials. The officials said that exemption will have a “negligible” effect on the city because most of the materials will come from outside Manhattan.

(Read more: Manhattan Mercury)