Syracuse Hotel Restoration Group

4:34pm

Mon August 25, 2014
Business

Hotel Syracuse pilot program will help restore landmark to its former glory

George F via Flickr

Syracuse lawmakers agreed to a pilot program Monday that will ease the tax burden for developers renovating the historic Hotel Syracuse.

City Deputy Commissioner for Development Ben Walsh says this is a big step in moving the project forward.

“The project is complicated, and frankly, as expensive as this, it needs as much certainty and predictability as possible," Walsh said. "And that’s what the pilot provides. It provides a certain payment for a period of time when the hotel is most vulnerable in it’s initial years of operation.”

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