Buffalo, N.Y. (WKBW) - During a morning meeting of the ECIDA, board members approved an incentive plan for the Richardson Development Corporation.
The plan includes tax breaks worth over $7 million.
Plans call for redeveloping the old Buffalo State Hospital into a new 90-room boutique hotel, architectural center, and conference space.
The $55 million dollar project is getting substantial New York State funding and local lawmakers say granting the tax breaks to the not-for-profit group developing the landmark will pay off in the long run.
The entire prohect is expected to create 369 construction jobs. When completed, 45 permanent and 22 part-time jobs will be filled.