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Project Name

Curtiss Buffalo, Inc.

Address

204-216 Franklin Street
Buffalo
New York
14202

Public Hearing Transcript

1st Amendment to Agent Agreement

2nd Amendment to Agent Agreement

3rd Amendment to Agent Agreement

Project Details

Amended Project Description

 

The project description is being modified to increase both the renovation and equipment budget by $4,430,000 and to construct an additional 9,200 sq. ft. for an expanded rooftop area and sidewalk café which is estimated to cost $2,200,000.  When complete, the entire complex will be 66,850 sq. ft.

 

The increased benefit to the developer will be in the form of additional sales tax savings in the amount of $466,250.

 

The estimated sales tax benefit and employment impact is changed as follows:

 

Original estimate of sales tax savings:       $575,000

Revised estimate of sales tax savings:       $1,041,250

Net Increase                         $466,250

 Original estimate of projected jobs:          30

Revised estimate of projected jobs:          55

 

Net increase:                                              25

 

Original Inducement 

The project involves the complete rehabilitation and historic renovation of the 57,560 sq. ft. Curtiss Building and the redevelopment of  the former Continental Building which was previously demolished.  This will transform the Curtiss Building and adjacent lot into a 67-room, high end boutique hotel, fine dining restaurant, lounge, spa and fitness center.  The project will include an indoor/outdoor year round water element featuring a waterfall and urban hot-springs environment.  In addition, one apartment unit will be constructed.

The building is over 100 years old and is listed on the National Register of Historic Places and has been a vacant, blighted structure for over 12 years.  Its location falls within a highly distressed  area as defined by New York State Statute.

The project is expected to add significantly to the downtown entertainment district by bringing product online that does not currently exist in downtown Buffalo.

The renovated Curtiss Building, with its close proximity to the Convention Center complemented by the selection of other hotels surrounding it, is expected to enhance the Convention Center's ability to promote Buffalo as a convention destination.  (see attached letter from Visit Buffalo Niagara).

  

Status Details

3/22/2017 - Amendatory Inducement Resolution passed by the ECIDA Board of Directors increasing project amount from $18,100,000 to $24,130,000

 6/18/2014 $18,100,000 Lease/Leaseback Inducement Resolution passed by ECIDA Board of Directors