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IDA tables motion to give One Niagara breaks

by TSchmitt
Thu, Jan 12th 2012 09:58 am

The tax issue at the One Niagara building in the falls forced members of the Niagara County Industrial Development Agency to table a vote on a package of incentives for renovations at that site.

IDA Chair Henry Sloma said the board will wait at least a month before voting on the proposal, which would give new owners of the former Oxy building 15 years worth of tax abatements. 

Last month, city officials said owners were nearly $4 million behind on taxes, but a recent reassessment of that property has brought the figure down to about $2 million.

The NCIDA is scheduled to make its final decision on February 8th.



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