Mayor Brown says other developers are interested in former AM&A's building
It appears a new developer will be needed for the former AM&A's Building on Main Street in downtown Buffalo.
A couple of weeks ago, developer Rocco Termini said he would end his plans to redevelop the site because Governor Andrew Cuomo failed to sign a bill that would have raised the amount on tax credits used by developers to restore buildings.
But now, Buffalo Mayor Byron Brown says there are some other developers eyeing the site.
"AM&A's obviously has been a white elephant. It has been vacant more than a decade in downtown Buffalo," said Brown.
The mayor says said he would like to see the governor sign the expansion and increase for the historic tax credit legislation.
The state currently caps tax credits at $5 million. The state senate and assembly already passed legislation that would raise it to $12 million. That would have assisted Termini in for his $60 million dollar redevelopment to re-create the former AM&A's Department store into a mixed use building.
But Mayor Brown claims there are other developers eyeing the Main Street building.
"What we are hearing, at least early on from those other developers, is that the lack of passage for this legislation to expand it is not deterring them from looking at the AM&A's project separately," said Brown.
But when reporters pressed the mayor on possible names of potential developers, Brown said he couldn't reveal who has voiced interest in the site.
"I am not in a position to identify anybody else at this time," he said.