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Schumer backs historic status for East Side redevelopment

WASHINGTON — Senate Minority Leader Charles E. Schumer on Monday called on the National Park Service to approve the former Niagara Machine and Tool Works Factory on Buffalo's East Side as a historic property so that the Northland Corridor Redevelopment Project can cash in on a key tax break before it is curtailed or rescinded.

Putting the factory on the National Register of Historic Places would qualify it for $16 million in historic preservation tax credits, which, Schumer said, would spur the property's redevelopment into a job training center.

Schumer noted that the tax credit may be eliminated in the pending tax reform bill, meaning the National Park Service would have to approve new historic designations by the end of the year for them to qualify for the tax credit.

 

 

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