Over the past two years, the owners of The Printing House, a large student apartment complex in Downtown Binghamton, have racked up more than $1.2 million in unpaid payments owed to Broome County.

According to a January letter from the Broome County Industrial Development Agency, the location owes $1,233,380.22 under a Payment in Lieu of Taxes agreement. Such agreements exempt owners from paying property taxes in exchange for making payments to certain local and county taxes.

Three limited liability companies — 19 Chenango Empire, LLC, 21 Chenango Empire, LLC and 25 Chenango Empire, LLC — were mentioned in the letter as the owners of The Printing House. Under the agreement, the owners agreed to make payments to the city of Binghamton, the Binghamton City School District and Broome County.

According to the letter, the companies owe more than $500,000 to the school district and more than $600,000 to the city and county.

In a statement to Pipe Dream, Stacey Duncan, executive director of the Leadership Alliance — the partnership between the Industrial Development Agency and the Broome County Chamber of Commerce — aid the agency is “optimistic that we can get to a satisfactory resolution” without filing a lawsuit.

“Our incentive programs are built on partnership and mutual accountability,” Duncan said. “Companies receive benefits with the clear understanding that they will fulfill their commitments. Maintaining strong compliance standards protects the credibility of our programs and reinforces that economic development incentives come with real responsibilities.”

“We are working through the necessary steps for compliance and to ensure that the appropriate taxing jurisdictions receive the PILOT payments currently owed,” Duncan continued.

While the letter indicated the owners had until Feb. 10 to pay off the remaining fees before the Payment in Lieu of Taxes agreement would terminate, it already ended last August, according to WBNG.

Now, The Printing House owners will have to pay property taxes.

According to the city’s tax database, 19 Chenango Empire, LLC owes over $261,000 in city taxes and around $49,000 for county services. Even if the owner pays by March 31, they still owe $2,616.86 in penalties.

Meanwhile, 21 Chenango Empire, LLC owes more than $56,000 in taxes, while 25 Chenango Empire, LLC owes $36,615.23.

The 12-story complex contains nearly 300 student units and opened in August 2016.

This is a developing story and will be updated.