AM&A's Project in "Holding Pattern"

October 7, 2012 Updated Oct 8, 2012 at 7:18 AM EDT

By WKBW Admin

October 7, 2012 Updated Oct 8, 2012 at 7:18 AM EDT

BUFFALO (WKBW) - It was a simple statement that summed up the development of the old AM&A's department store. "We're just waiting on a signature from the Governor," developer Rocco Termini said.

That signature would increase the historic tax credit, from the current 5 million, to 12 million dollars that would fund the renovation of the former department store. The credit has passed the State Senate and Assembly, but Termini says the fight is with the Governor's budget office. In the meantime, things are being held up.

"If we don't get the tax credit bill signed, that project is not going to go forward," Termini said. Eyewitness News went on to ask if he was simply still waiting on the Governor. Termini responded "we are waiting."

State Senator Mark Grisanti has been pushing for the credit to be signed, so work can go forward on this and many other projects in the area.

"Everybody realizes that are close to the ground on this that it is going to be a huge positive, not only for Western New York but for New York State as a whole," Grisanti said.

Termini says the drop-dead date for the tax credit is year's end. But despite the frustration of waiting on the Governor, with money tied up in the longtime vacant building, Termini says all hope is not yet lost when it comes to AM&A's.

"As soon as the bill is passed or signed, I will begin work on the building. It's like a giant puzzle, and if you're missing one piece, the other things don't happen," Termini added.