What a difference a day makes. Or maybe not.
On Tuesday, we were quoting a happy Rocco Termini [right] about how his plans to revitalize downtown Buffalo's Hotel Lafayette into a one-stop shop for weddings -- among other things -- would be under construction in a couple of months, thanks to a change in state law that would allow him to take advantage of state historic preservation tax credits.
On Wednesday, well ...
- Tax credit passed by lawmakers may be cut - Phil Fairbanks/The Buffalo News
What New York State giveth, New York State can taketh away, sometimes just a week later.
Gov. David A. Paterson is reportedly considering a budget reform that would delay for six years the same historic preservation tax credit improvements state lawmakers approved last week.
“I can’t believe the governor would try to do this,” said Rocco Termini, developer of the downtown Hotel Lafayette and several other tax credit projects. “This would put them on hold again.”
Preservationists say their concern is that Paterson will include the tax credit changes in an emergency spending bill that would likely pass the State Legislature.
“I think they’re very serious,” said Daniel Mackay, director of public policy for the Preservation League of New York State. “I also think it sends an extraordinarily bad signal.” ...
“Unfortunately, the proposal would include the rehabilitation tax credit,” said Assemblyman Sam Hoyt, D-Buffalo. “I’m working diligently to get that removed.”
Life is very short, and there's no time for fussing and fighting, my friends:
-- George Pyle/The Buffalo News