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IDA wars, again...

From Business Today:

Ryan

A new proposal by Assemblyman Sean Ryan, D-Buffalo, seeks to rein in the power of suburban industrial development agencies in Erie County and give most of the responsibility of doling out tax breaks to the Erie County IDA. Suburban IDAs would only be allowed to give school tax breaks if the school districts that would benefit from the taxes approve them. IDAs have come under increased scrutiny for giving tax breaks to retail and restaurant projects. The legislation is backed by County Executive Mark Poloncarz.

Westwood

Mensch Capital Partners LLC, which is led by Andrew J. Shaevel and includes Paul Ciminelli and Paul J. Kolkmeyer, have closed the deal on the Westwood Country Club for $2.5 million. Jon Cohen and Todd Sugarman, who are leasing the property, will operate the club. They have launched a major marketing initiative and have cut rates drastically, which has increased membership by about 80 people.

 

Daffodils

The former Daffodil's restaurant on Maple Road in Williamsville has a new owner. Mike Rizzo, who owns Banchetti by Rizzo's restaurant and banquet facility, closed the deal Monday, paying $700,000 for the restaurant. It was most recently operated under the name Verbena, but has sat empty since 2010. It will likely become a restaurant and banquet facility again.

Who is getting hired, promoted and honored?

Speaking of Daffodils, spring has sprung!

 

 

tagged

Economic Development | Real Estate
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