Syracuse Common Council approves tax deal for Tops supermarket
Tue, 11 Sep 2012 00:02:19 GMT —
In a meeting on Monday afternoon, the Syracuse Common Council approved a tax deal for the new Tops supermarket replacing the now-shuttered Wegmans store on Pond Street.
For the next seven years, the store will only pay taxes based on the current property assessment. That amount will then increase for the last three years of the deal.
Tops also received a mortgage recording tax exemption and a sales tax exemption on construction materials.
Syracuse Mayor Stephanie Miner said the tax deal with ensure North Side neighbors once again have a full-service grocery store.
The new Tops supermarket is expected to open in late fall or early winter.