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Article: EMPIRE ZONE STATUS SOUGHT FOR CAROUSEL; IF GRANTED, THE MALL EXPANSION WOULD BE ELIGIBLE FOR PROPERTY TAX REFUNDS.(News)
- Article from:
- The Post-Standard (Syracuse, NY)
- Article date:
- November 27, 2001
CopyrightCOPYRIGHT 2001 All rights reserved. Reproduced with the permission of The Herald Co. by the Gale Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Teri Weaver and Rick MoriartyStaff writers
State taxpayers would pay a portion of the cost to expand the Carousel Center mall under a plan The Pyramid Cos. executives pitched to Onondaga County lawmakers Monday.
The plan would put the expanded mall into a state Empire Zone. That would make the $1.3billion project eligible for property tax refunds paid by the state.
The city and county have waived property taxes for 30 years on the mammoth shopping and tourist center, soon to be renamed Destiny USA. Under that agreement, Pyramid will make payments in lieu of taxes, called PILOTs, that would pay for part of construction at the mall. ...