Jeremy Boyer
syracuse.com
(TNS)
Syracuse, N.Y. — A project to create the future home for the Syracuse police and fire departments took two big steps forward this week.
The Syracuse Industrial Development Agency on Tuesday morning approved $4.5 million in tax exemptions for a private developer’s $33 million project to convert a vacant six-story factory on the city’s west side into a new public safety building.
The IDA’s action came about 12 hours after the Syracuse City Planning Commission approved the site plan for the project at 1153 W. Fayette St.
Both boards approved their resolutions unanimously.
Known as the Lipe-Rollway Building, the factory was erected in the 1920s to manufacture automotive and railway parts. It’s been mostly dormant for decades, but emerged as the city’s choice to relocate police and fire from the deteriorating 511 S. State St. public safety building downtown.
A private development team that includes Joe Gehm, of the Lahinch Group, and Timothy Lynn, of Morrisroe Lynn Development, would renovate the historic building and lease it back to the city over 19 years. They hope to begin construction work by October, with a targeted completion date of early 2026.
The Syracuse Common Council first authorized the lease in late December. After city officials and developers further refined plans, the council approved revised terms in July that would have the city paying $52.1 million in rent over the 19-year period. City officials have said the cost of renovating the current public safety building, which would require finding a temporary location for the departments while construction takes place, is in line with the lease payments.
Because the West Side site is and would remain privately owned, it would be subject to property taxes. The financial assistance package through the IDA reduces that bill by an estimated $3.1 million over a 15-year period. In addition, developers will benefit from $1.2 million in sales tax exemptions for construction materials and a $187,000 mortgage recording tax break. The owner would make payments-in-lieu of taxes over the same time period totaling $3.2 million.
The current public safety building is jointly owned by the city and Onondaga County. Although Syracuse owns a 61% stake, it pays the county for the cost of maintaining it. This year, that bill is nearly $1.7 million.
Fire and police department leaders spoke at Tuesday’s IDA meeting about cramped space, lack of technology and health and safety hazards in the current building. The city and county have been in discussions about its future, with city officials interested in selling. Matt Oja, Syracuse’s assessment commissioner, has said the downtown site could be attractive to private developers.
City reporter Jeremy Boyer can be reached at jboyer@syracuse.com, (315) 657-5673, Twitter or Facebook.
©2024 Advance Local Media LLC. Visit syracuse.com. Distributed by Tribune Content Agency, LLC.
