© 2022 Western New York Public Broadcasting Association

140 Lower Terrace
Buffalo, NY 14202

Mailing Address:
Horizons Plaza P.O. Box 1263
Buffalo, NY 14240-1263

Buffalo Toronto Public Media | Phone 716-845-7000
WBFO Newsroom | Phone: 716-845-7040
Your NPR Station
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
ON DEMAND: THIS AMERICAN LIFE tribute to the 10 killed in the Tops Market shootings (avail. Sunday after 8pm)

Senate approves increased historic tax credits

sean ryan_0.jpg

New York State is getting closer to providing a higher level of tax credits for developers of historic properties as the State Senate approved a bill that would hike those credits from $five million to $12 million.

Assemblyman Sean Ryan says if the bill is approved by the Assembly next week, it would be a "win-win" for some historic Buffalo buildings.

"You have to go through the process. You have to show that you have a development plan in place, then you apply for it," said Ryan. 

"It's not a give away.  It's not based on who you known, but it is designed to perhaps do things, like the old Trico building, like the Richardson complex, the buildings that really need the extra boost or they won't get done."

The funding would only be provided to a building that is listed as "historic". 

The Governor had indicated he's concerned about how the tax credits because would impact the cash-strapped state budget.  But he is willing to sign if finalized.