City Approves Statler Waiver

January 25, 2011 Updated Jan 25, 2011 at 7:56 PM EDT

By Kyla Igoe

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City Approves Statler Waiver

January 25, 2011 Updated Jan 25, 2011 at 7:56 PM EDT


Buffalo, NY (WKBW) - The Buffalo Common Council approved a waiver today that would reduce the financial pressure on the trustee of the Statler Towers. The approval would waive the city's administrative expense claims against the trustee. These waivers will not wipe away the tax, sewer, or water liens against the property, but will help the trustee facilitate the sale of the building and not the abandonment of the historic landmark. Once a sale is complete, the city would then seek its debts.

"Buffalo can not waive the taxes and liens, they will remain," said Ellicott District Councilman Darius Pridgen. "However, it can waive some of the fees that are attached to them. City taxpayers will not be losing anything, it will simply be about waiving fees."

Mark Croce, a local developer has put in a bid to purchase the historic landmark but has yet to close on the deal. The case remains in Federal Bankruptcy Court.