Destiny USA granted another six months for $1.5 million
Mon, 05 Dec 2011 17:18:09 GMT —
The Syracuse Industrial Development voted Monday morning, in a close door executive session, to give the developer of Destiny USA an additional six months to meet.
The Pyramid Companies will pay 1.5 million dollars in three installments of $500,000 over the next sixty days.
The meeting came as a six-month deadline arrives.
In June, the Syracuse Industrial Development Agency approved a deal between the City of Syracuse and Pyramid. In exchange for an extra six-months to complete the first stage of the project, Pyramid agreed to pay the city $1 million.
At the time, SIDA Chairman Bill Ryan said when the extension was up, that was it. He clarified that a future extension is not out of the question, but it's doubtful that another would be granted.
A number of stores have already moved in and part of the expansion is open to shoppers .
The entire expansion isn't expected to be done until this spring.
Outside of the closed door meeting Monday morning, Occupy protesters were demanding that Pyramid pay the taxes and not get any tax breaks.