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Syracuse IDA approves inducement, pilot and final resolutions for 366 West Onondaga rehabilitation
Summary
The Syracuse Industrial Development Agency approved inducement, pilot and final resolutions to enable renovation of a historic 3-story building at 366 West Onondaga into mixed commercial and residential use, including four market-rate studio apartments and a 15-year historic PILOT.
The Syracuse Industrial Development Agency approved a package of resolutions to support the rehabilitation of a historic building at 366 West Onondaga Street, authorizing tax exemptions and a historic PILOT to facilitate renovation into a mix of commercial and residential uses.
According to the application presented on the record, 366 West Onondaga Street LLC (or an entity to be formed) will acquire an interest in roughly 14,000 square feet of land improved by a roughly 9,000-square-foot, three-story historic structure. The scope presented includes a gut rehabilitation to create about 2,700 square feet of commercial space on the first floor, approximately 2,500 square feet on the second floor…
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