Featured News - Current News - Archived News - News Categories

ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY BOARD APPROVES $9.6 MILLION IN TAX ABATEMENTS TO ASSIST UNILAND DEVELOPMENT COMPANY IN CONSTRUCTION OF A 12-STORY OFFICE BUILDING IN DOWNTOWN BUFFALO

 FOR IMMEDIATE RELEASE                

Media Contact: Sharon Lindstedt

December 16, 2013

                                                   TraversCollins                                                                                                          (716) 464-4723                                                                                                        slinstedt@traverscollins.com

 

ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY BOARD APPROVES $9.6 MILLION IN TAX ABATEMENTS TO ASSIST UNILAND DEVELOPMENT COMPANY IN CONSTRUCTION OF A 12-STORY OFFICE BUILDING IN DOWNTOWN BUFFALO 

The building's anchor tenant, Delaware North Companies, will locate its global headquarters at the 250 Delaware Avenue

 Buffalo, N.Y. - The Erie County Industrial Development Agency Board today approved $7.8 million in property tax abatements and $1.8 million in sales tax waivers for 250 Delaware, Inc., the Uniland entity which is undertaking the $51.7 million project.

 The vote was 15 to 2 in favor of the project.

Delaware North offices will occupy 110,000 square feet of the 12-story, 472,000-square-foot structure, which will be located at the corner of Delaware Avenue and Chippewa Street in downtown Buffalo.

The mixed-use project will also include a 119-room hotel to be operated by Delaware North, plus an additional 94,000 square feet of Class A office space and a four-level parking structure.

In addition to sales tax abatements, DNC 250, Inc, was granted a seven year payment-in-lieu-of-taxes agreement through the ECIDA.

 Delaware North, one of the largest privately-held hospitality companies in the world, plans a $17.1 million build-out at 250 Delaware. In November the ECIDA board unanimously approved $807,000 in tax breaks for the company to assist with its move from the Key Center to the Uniland building.

The move to a state-of-the-art global headquarters will allow Delaware North to add 65 jobs to its current 350-person Buffalo payroll.  The new jobs will pay an average of $70,000, annually.

Construction is expected to begin in the first quarter of 2014.  Uniland has already started a $1.5 million remediation of the Elmwood Avenue side of the site which formerly was home to a gas station.  The brownfield parcel requires clean-up of soil and ground water.

 The ECIDA board also approved $100,000 in sales, property and mortgage reporting tax abatements for Custom Sheet Metal Fabricating, LLC.  The company, located at 25 Depot St. in Buffalo, plans to 12,000 square foot expansion, more than doubling the size of the plant, to boost its production capability.

 A 10-ton capacity overhead crane and new welding stations will be housed in the new space. With increased production, the company expects to expand its workforce from 11 to 14 employees.

 The ECIDA board also gave unanimous approval to a three-year employment contract with its new Chief Executive Officer Steven Weathers, which runs through December 15, 2016.

 Under terms of the employment contract, Mr. Weather will earn an annual salary of $140,000, with the potential bonuses or an increase in compensation based on an annual review.

 Mr. Weathers, 50, who most recently served as President and CEO of World Trade Center San Diego, has extensive executive experience in the public development, international trade and private venture capital arenas.

 He's held the top jobs at the Savannah Georgia Economic Development Agency, World Trade Savannah, Regional Growth Partnership and Rocket Ventures, both located in Toledo, Ohio, and Greater Tucson Economic Council.

The ECIDA also added a new board member. Town of Eden Supervisor Glenn Nellis takes the seat vacated last summer by former Congressman John LaFalce.