WNYresident View Post
What about the property owners who may be renting to those companies that would relocate. They will end up with vacant buildings because of the incentives. That isn't a net gain except for the IDA's that skim their salaries by doing the paper work for the incentives.
This is a good question. I'll just add some thoughs
That's real estate. How many property owners sell their home for a profit or charge more in rent simply because the desirability of their location has improved. It's all a part of the game.
If a property owner is in a hot market, does he keep his rates the same? No. He would increase his rent because he can.
I am more focused on the company than the property owner. It's not the responsibility of the renter to ensure a owner has his property filled. Going further, if a company leaves, I think the property owner should be allowed access to tax breaks if he wants to invest in his space to make it more desirable.
What about the property owners who purposely keep units empty so they can play with the numbers and write off the expense as a tax deduction?
The 'NET GAIN' is that through tax breaks things are added to the economy.
Realize you're in WNY and a zero tolerance stance is just as bad as a tax to death stance.