From the Times Ledger:
The owner of the crumbling RKO Keith’s Theatre in downtown Flushing still owes more than $380,000 in unpaid back taxes and entered into a payment plan earlier this year to prevent the city from putting a lien on the property.
Developer Patrick Thompson is seeking to build a 16-story, mixed-use building around the landmarked lobby of the historic theater, at 135-35 Northern Blvd., and is trying to secure finances to get a shovel in the ground at the site of the $160 million project.
In March, TimesLedger Newspapers reported Thompson owed the city Department of Finance nearly $400,000 for 2011 unpaid property taxes. In April, Thompson entered into a payment plan in order to balance the books. At that time, he owed about $373,600, according to Finance.
But the most current records show Thompson still owes about $385,000 — which is actually $11,500 more than the initial balance when he entered into the agreement, according to department records.
“He’s on the way to paying it,” said Michael Nussbaum, spokesman for Thompson.
According to the department, if the developer had not entered into a payment plan before May 17, the city would have placed the property on its tax lien sale list, meaning that a third party could have potentially taken possession of the land.