Uniland to receive tax breaks

[WNYresident]

Uniland to receive tax breaks

Uniland Development Co. will get $1.46 million in tax breaks from the Amherst Industrial Development Agency to build an office building in the Sheridan Meadows Corporate Park.
The agency approved the package Friday in a 6-1 vote, even though Uniland has not disclosed any tenants for the 53,661-square-foot building it plans for 6500 Sheridan Drive.
Supporters backed the $7.1 million project, saying it would increase the supply of available office space in a town where the agency’s recent business survey found that 55 local companies are interested in expanding within the next two years, with a potential demand for 327,000 square feet of additional space.
“This certainly falls within the parameters of that report,” said James J. Allen, the IDA’s executive director. “I don’t know of any one tenant at this time, but I do know of 55 companies in this area who are looking for space.”
Uniland Development Co. will get $1.46 million in tax breaks from the Amherst Industrial Development Agency to build an office building in the Sheridan Meadows Corporate Park.
The agency approved the package Friday in a 6-1 vote, even though Uniland has not disclosed any tenants for the 53,661-square-foot building it plans for 6500 Sheridan Drive.
Supporters backed the $7.1 million project, saying it would increase the supply of available office space in a town where the agency’s recent business survey found that 55 local companies are interested in expanding within the next two years, with a potential demand for 327,000 square feet of additional space.
“This certainly falls within the parameters of that report,” said James J. Allen, the IDA’s executive director. “I don’t know of any one tenant at this time, but I do know of 55 companies in this area who are looking for space.”

Full Story in the Buffalo News

Uniland officials told the IDA that it would not proceed with the project without the tax breaks, which include $1.14 million in property tax savings, $248,000 in sales tax incentives and $71,000 in mortgage tax reductions.
The site currently pays about $6,033 a year in town, Erie County and Williamsville Central School District taxes. Once the office building is constructed, it would generate an extra $1.13 million in revenues for the town, county and school district during the 10-year period the property tax breaks are in effect, IDA officials said.

1,130,000 / 10 = $113,000 a year is what they will pay? Instead of paying what the they should?

Is that area distressed and in need of developement? If not they shouldn't get NO tax breaks. Everyone gets them or no one should. Are they redeveloping an eye sore?

[Achbek1]

Uniland has in the past TRIED to build developments in the city of Buffalo, where things are more economically depressed, but they were often blocked by the usual special interest groups who thought their projects were "not appropriate" for the city.

[WNYresident]

Uniland has in the past TRIED to build developments in the city of Buffalo, where things are more economically depressed, but they were often blocked by the usual special interest groups who thought their projects were "not appropriate" for the city.

Understandable but that is still now reason to give a developer a tax discount in the burbs

Anyone know what address they consider that area? I would like to google map it and screen capture an overhead to see how depressed the area is that they are willing to give away a tax break.

[therising]

Anyone know what address they consider that area? I would like to google map it and screen capture an overhead to see how depressed the area is that they are willing to give away a tax break.

6400 Sheridan Drive. They're going to attach the building to this one. North side of Sheridan, just west of Transit.

Res - when you get all worked up over tax breaks, there's one thing I think you need to remember -- landlords pass expenses, including taxes, on to their tenants. So, the landlord is not pocketing this "savings", the reduced cost will be passed on to tenants.

So these breaks are making the area a little more business-friendly. Something you usually seem to be in favor of.

[pudge]

rising posted:

Res - when you get all worked up over tax breaks, there's one thing I think you need to remember -- landlords pass expenses, including taxes, on to their tenants. So, the landlord is not pocketing this "savings", the reduced cost will be passed on to tenants.

So these breaks are making the area a little more business-friendly. Something you usually seem to be in favor of.

I never realized that commercial developers seeking tax breaks passed on their savings to their tenants. How nice.

Now, do the tenants receiving those lower lease rates pass on some of their their good fortune to their hired hands?

Or, is this just trickle down "corporate welfare" that ends with special interests?

Hey res, did you ever receive any of those tax breaks?

I am all for making our area "business friendly," lord knows we need to energize the local economy. However, I get confused when others say that if the smaller businesses can't compete with tthe Wal-Marts, Targets, ect., they should close their doors.

I have a tough time understanding where the "level playing field" comes in to allow for fair compertition.

How can you hand out so much money to a developer who does not want to reveal who the tenants are? Is this just another "spec building venture?" There are enough of those around.

[WNYresident]

6400 Sheridan Drive. They're going to attach the building to this one. North side of Sheridan, just west of Transit.

Res - when you get all worked up over tax breaks, there's one thing I think you need to remember -- landlords pass expenses, including taxes, on to their tenants. So, the landlord is not pocketing this "savings", the reduced cost will be passed on to tenants.

So these breaks are making the area a little more business-friendly. Something you usually seem to be in favor of.

It's only business friendly if all businesses get the breaks not just a select few. That area doesn't look like they are having a development problem. What is the reason for the tax break? It's an empire zone?

[Achbek1]

It's only business friendly if all businesses get the breaks not just a select few. That area doesn't look like they are having a development problem. What is the reason for the tax break? It's an empire zone?

Isn't all of Western New York considered an Empire Zone? Hence, GEICO in Williamsville?

Or didn't it used to be??

I dunno, here's the latest zone map, if you can decipher it... I can't

[therising]

It's only business friendly if all businesses get the breaks not just a select few. That area doesn't look like they are having a development problem. What is the reason for the tax break? It's an empire zone?

If you want to make an argument that taxes, overall, should be lower, then go ahead and make that argument. But, it has nothing to do with the fact that any business can move into anyone of these abated buildings, and receive the benefits in the form of lower rents.