Syracuse Mayor Stephanie Miner says the city isn't giving up on the latest proposal to renovate the Hotel Syracuse. A plan for the city to take over the tax delinquent property stalled last week when, Financitech, which holds the mortgage on the hotel, paid back taxes at the last minute.
For the second time in less than two years, back taxes have been paid on the Hotel Syracuse, effectively scuttling plans for the city of Syracuse to take control of the property, and sell it to a developer. So, city officials are now looking at a "Plan B."
Sen. Charles Schumer is bringing his influence to the latest plan to revive the Hotel Syracuse. The Democrat senator believes a federal tax credit program would help draw investors that would be willing to spend the millions it would take to restore the Warren Street historic landmark.