The council voted 9-0, in approval of the payment-in-lieu-of-tax (PILOT) agreement. The Syracuse Industrial Development Agency has already approved the deal.
The store’s property-tax assessment will be frozen for the first seven years, and, following that, the tax breaks will phase out over the final three years.
Price Rite plans to build its new store at 601 South Ave.; the site of an old grocery store which closed in 1970.
The store reportedly has said its new location will bring 10 full-time and 75 part-time jobs to the area. Price Rite also currently operates a Syracuse store at 1605 E. Erie Blvd.