Incentive Plan Approved for Richardson Complex Project

June 17, 2013 Updated Jun 17, 2013 at 12:49 PM EDT

By Mitch Simon

...
June 17, 2013 Updated Jun 17, 2013 at 12:49 PM EDT

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.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.