Tax break approved for Pond Street grocery store developer
By Brandon Roth
Former Pond Street Wegmans
Thu, 06 Sep 2012 18:07:59 GMT — The Syracuse Industrial Development Agency (SIDA) approved a special package of tax incentives needed for a project at the former Pond Street Wegmans location to move forward. SIDA voted unanimously to approve a 10 year break on city taxes for a TOPS Friendly Markets at the site. Additionally, the developer Morgan Management LLC will not have to pay sales tax on construction materials used in the development of the site. The company says it needs the incentives in order to build a bigger and better supermarket at the Pond Street site. TOPS spokesperson Mark Stanko says, "TOPS likes city stores. We have them in Western New York. We have them in Syracuse. We think it's a win-win for both the customers and ourselves." "This is an important step in the process of securing a permanent grocery store at this location," said Mayor Stephanie A. Miner in a release. "My administration has worked very hard to ensure local residents have access to a quality, full service grocer in their neighborhood and we are committed to working with Morgan Management and Tops to make sure this happens." A small but vocal group of north side residents turned out at City Hall Thursday to voice their approval for the tax break plan. "We need a full fledged grocery store, we need a TOPS. It would make a huge difference," says north side resident Mary Salibrici. The Syracuse Common Council will hold a final vote on the proposal at its regularly scheduled meeting this Monday.
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