To help spur residential mixed-use development in downtown Buffalo, the city will offer incentives will be granted to those projects which renovate former warehouses, factories, and old buildings into mixed-use residential uses.
"Developers would have to spend at least $170,000 on the conversions, and the tax breaks would apply only to the value of the improvements that are made. Projects would receive 100 percent exemptions for the first eight years, with the breaks gradually shrinking in the ninth through 12th years."
Thanks to Mike Ball
FULL STORY: Common Council approves package of incentives to spur development
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