ALBANY — The city’s Industrial Development Agency is threatening to revoke the tax exemptions for Air Albany, the yet-to-be completed apartment building at 1211 Western Ave.
An attorney for the agency sent a letter Thursday to DMG Investments, the company that has been attempting to build the 137-unit project for years, saying the company was in default of the project agreement.
The letter is the second time the city agency has reached out to DMG Investments in recent weeks. The May 29 letter references an April 25 letter that the IDA attorney said had never received a response…