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A round of federal stimulus for five local projects

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WBFO News photo by Eileen Buckley
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Curtiss Building will be restored into a hotel

By Eileen Buckley

http://stream.publicbroadcasting.net/production/mp3/wbfo/local-wbfo-908795.mp3

Buffalo, NY – Local leaders say a round of federal stimulus money will create new jobs and give Buffalo an economic boost.

Click the audio player above to hear Eileen Buckley's full story now or use your podcasting software to download it to your computer or iPod.

City, County and federal leaders announced that five local businesses are the recipients of tax free federal stimulus money.

U.S. Senator Charles Schumer appeared in Buffalo Monday to announce that five companies will share in $28 million in federal recovery zone bonds.

"The long term job of the stimulus is to create permanent jobs," said Senator Schumer.

City, county and federal leaders say this funding will retain and create new jobs and renew local economic development.

"Creating more jobs for our residents and creating more opportunities for the people that live in this community," said Buffalo Mayor Byron Brown.

11 applications were reviewed by a selection committee made up of City and county leaders. Buffalo developer Mark Croce will receive $6 million to restore the former Curtiss Building at Franklin & West Huron. He wants to turn it into a high end boutique hotel.

"This helped make it easier, because in this tough financing environment this makes it more attractive to the primary lenders," said Croce.

The hotel project is expected to generate 100 new jobs.

In an unusual move, Amherst town Supervisor Barry Weinstein received $4 million from the $28 million in stimulus funds. But he couldn't find the right project for the funds and instead offered it to the other five selected projects.

"Amherst called around, couldn't find a developer willing to do a project in Amherst. We were happy to contribute to Erie County and the City of Buffalo," said Weinstein.

Galvstar will also receive $8 million dollars. The company plans to renovate the former American Axle plant in Buffalo. It will be turned into a steel galvanizing and processing facility.

Here are the following projects that will share the $28 million in stimulus funding:

*Galvstar will receive $8 million

*Local Developer Marc Croce. Croce will be awarded $6 million

*Seneca Exchange Larkin Partners will receive $5 million for renovation and redevelopment of 635 Seneca Street in Buffalo

*Multisorb Technologies will receive $5 million to expand and renovate their manufacturing facilities in West Seneca and Cheektowaga

*Iskalo Development will receive $4 million to redeveloper the former Kane-Doyle dealership at 2780 Delaware Avenue in Kenmore