Niagara Gazette — A development team that plans to build an apartment complex on an old cold storage facility site in the Village of Youngstown has received final approval for a tax-break package through the county’s industrial development agency.
During a meeting Wednesday, members of the Niagara County Industrial Development Agency’s Board of Directors approved a 15-year payment-in-lieu-of-taxes agreement for developers David Burke and David Pawlik.
Burke, of Burke Homes, and Pawlik, of CSS Construction, are teaming up as part of a $3.4 million effort to demolish the 99-year-old Youngstown Cold Storage facility located at 701 Third St. across from Veterans Park and a few blocks away from the Niagara River.
Burke and Pawlik have proposed the development of a 30-unit residential apartment building on the site, which has been home to the former cold storage facility since 1914. The incentive package approved by the NCIDA board will provide the developers with mortgage, property and sales tax exemptions as well as a 15-year market rate housing PILOT worth an estimated $746,000. In return, NCIDA officials estimate the project will provide about $821,000 in community benefits.
The project is projected to create the equivalent of one and a half permanent full-time jobs and would support 32 construction jobs and two other jobs during construction, according to the developers’ application.
Five of the seven NCIDA board members who attended Wednesday’s meeting voted to approve the developers’ application, including Kevin McCabe who said he’s “thrilled” by the prospect of the old cold storage facility being replaced by an apartment complex. He noted that, according to agency staff, no taxes have been collected on the property in 20 years and the new agreement will assure that the developers at least begin making partial tax payments in year one of the deal and beyond.