Town of Amherst pitches PIF-backed Boulevard Mall redevelopment and asks Sweet Home district to partner

The Town of Amherst and its industrial development arm asked the Sweet Home Central School District board to partner in a payment-in-lieu financing district to help redevelop the 60-acre Boulevard Mall site, a plan that includes eminent domain, rezoning, and a 20-year financing structure to pay for public infrastructure and a community center.

"We will be proceeding with taking the property by eminent domain," Liz Burakowski, an attorney and director of special projects for the Town of Amherst, told the board as she described steps the town has taken to clear title and speed redevelopment. She said the town has rezoned the site for mixed use and prepared a Generic Environmental Impact Statement so developers can proceed without repeating those studies.

David Manjoya of the Amherst IDA described the financing model and the PIF concept: certain IDA-eligible, mixed-use projects would be eligible to direct pilot revenues into a fund that services bonds and pays for agreed public improvements. He said Benderson Development bought much of the property earlier this year and has a redevelopment agreement with the town. "We are asking you to partner in the PIF with us," Burakowski said, noting that the school district’s share of property taxes is critical to making the model work.

The town framed the project as phased mixed-use redevelopment with a range of housing types, from workforce and affordable units (targeting roughly 80% of area median income for many apartments) to market-rate housing, plus green space, roads and possibly structured parking. Burakowski said Benderson purchased the mall for $15,000,000 and that much of the interior building mass would be demolished once the town clears title and transfers the parcels to the developer.

Town presenters cited a state grant for sewer capacity as a key enabling investment. "Most importantly, $31,000,000 from Governor Hochul for the Westside interceptor project," Burakowski said, noting the grant increases sewer capacity and carries commitments about housing in the broader target area. The town also estimated it might need to bond "somewhere between 1 and $5,000,000" to acquire certain parcels prior to transfer.

The presentation included a specific benefit offer to the district: the town proposed a 30-year lease of the former Buffalo Athletic Club (BAC) building as a community center that could include colocated district offices. "We would not expect the school district to pay rent during the term of the PIF," Burakowski said, adding that the town would bond out the build-out and use PIF revenues to service debt. District officials said moving offices could free capital in an existing $90,500,000 construction project for other needs.

Board members pressed town staff on timing, who would select housing developers, which properties would be excluded (some banks and auto shops appear to be outside the acquisition boundary) and what the PIF would apply to. Burakowski said the town hopes to clear title early this fall and start demolition as soon as possible; she asked the district to consider PIF approval on an expedited schedule so the town can show revenue backing for borrowing.

Several board members asked for more detail on the financial model, the draft agreements and the impact on school enrollment. Town staff offered to provide housing estimates, the GEIS and comment records and to meet again; they proposed circulating draft PIF documents and bringing an item to the board in August.

The board did not take a vote on the PIF at this meeting; presenters said they will return with draft documents, spreadsheets and additional briefings in the coming weeks.

Next steps: Amherst will circulate draft PIF and lease documents, provide the GEIS and housing estimates, and offer site visits and additional briefings ahead of a proposed August discussion and likely further action later this year.