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MAR 10 - MAR 17, 2015

Hamister Seeks Tax Discounts, Grants, Discounted Real Estate -- Totaling $9.4 Million

March 10, 2015

The Niagara County Industrial Development Agency held a public hearing on March 5th for the Hamister Group's downtown Niagara Falls hotel project.

Three people showed up.

The Hamister Group has asked the IDA to grant a discount on the proposed hotel's taxes, called a "payment-in-lieu-of-taxes" agreement.

The request is estimated to be worth $4.2 million in tax discounts to Hamister -- $2.9 million in property taxes over 10 years, a sales tax exemption during construction, worth perhaps $1.1 million and a waiver of the mortgage recording tax, worth yet another $226,000.

The IDA board is expected to vote - and approve - the discount on March 11.

In addition to IDA tax breaks, the Hamister project, if built, will receive $3.85 million from state taxpayers through Empire State Development Corp.

In addition to the state grant and local tax discounts, the City of Niagara Falls will sell Hamister a parcel of land, located at 310 Rainbow Blvd, that was appraised for more than $1.5 million, for $100,000, to use as the site of the proposed hotel.

Combined, the Hamister Group, led by developer Mark Hamister, will reap around $9.4 million in taxpayer help for his planned 128 room Hyatt Place hotel.






Our Report on the Proposed Hamister Hotel Through a Series of Connected but Separate Stories
Hamister Seeks Tax Discounts, Grants, Discounted Real Estate -- Totaling $9.4 Million
Job Promises, Job Delivery - Vast Errors By Expert State Officials
Hamister to Build Lower Quality, Lower Density Than RFP Sought
Price Doesn't Sound Right
How Was Hamister Selected?
Financing in Question?
Hamister Hotel History - A Shrinking Deal With Escalating Handouts
A Key Property, if Built as a Hyatt Place, Will Be Underdeveloped
The City Hall Good Life
Former Lockport Youth Director At Center of Credit Card Investigation Files Complaint with State
Council Unanimously Approves Hyde Park Pavilion Bond Resolution
Why I Voted for Ice Pavilion Renovation - But Paid For With Casino Cash
The Best Community to Live, Work, and Raise a Family Ortt Reaches Out To Reporter Readers
Niagara Falls Getting Hamister Hotel, Not Nik Wallenda
Only in North Tonawanda: Questions for Common Council
Sound Off on Steroids? No Sweeney, it's Not All The Republicans Fault
Mayoral Candidate Szwedo Talks His Talk with Sense of Humor
Native American Marijuana Production A Bad Bet for Niagara County Taxpayers
Findings Warn About Continuing CMO Vacancy at Erie County Correctional Facilities.
Casino Cash - Gone with the Wind
Paladino Carrying Fight to Minority Board Members
Military-Strength Anti-Bleeding Product Coming to Stores
Skrlin Hammers Home a Homely Masterwork
The Great One Scores Again: Skrlin Deftly Weave a Monster Story
Letters to the Editor
City Hall and Dog Park Jokes

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Publisher and Editor in Chief: Frank Parlato
Managing Editor: Dr. Chitra Selvaraj
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