Defying criticism from two state lawmakers over what they had termed a loophole, the Niagara County Industrial Development Agency on Wednesday granted $142,077 in tax breaks to a Niagara Falls developer and restaurant operator who plans to open the region’s first A&W Restaurant in the city’s tourism district.
Rejecting accusations of “wasteful subsidies” from State Sen. Sean Ryan and Assemblyman Jon Rivera, NCIDA officials said they had reviewed the project carefully, were acting in full compliance with state laws and would not have brought the project forward for approval otherwise.
The News’ Buffalo Next team covers the changing Buffalo Niagara economy. Get the news in your inbox 5 days a week.
“I took umbrage when I heard the word loophole, because that’s going around the statute. This is the statute,” said NCIDA counsel Mark Gabriele. “If it did not meet the guidelines, we would not have had it before this board.”
Muhammad Shoaib and his wife, Hina Qureshi, are hoping to open a franchise of the national restaurant chain at 303 Rainbow Blvd., at the corner of Third Street, after renovating a run-down former souvenir shop that once housed the Daredevil Museum into a 2,155-square-foot restaurant. The 45-seat A&W would be located next to the Cambria Hotel, across from the Jefferson Apartments.
Shoaib sought sales tax relief and a five-year payment-in-lieu-of-taxes on the property, with the developer and NCIDA officials citing its proposed location in a distressed area and as a tourism destination to justify the…
Read the full article here
Leave a Reply