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Wednesday 30 November 2022
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Update: Judge Dismisses SIDA’s Lawsuit Against COR Development Co.

By Staff

 

Syracuse Inner Harbor Project, Photo: QPK Design

Syracuse Inner Harbor Project, Photo: QPK Design

Update: New York State Supreme Court Judge James Murphy has dismissed the Syracuse Industrial Development Agency’s lawsuit against inner harbor developer COR Development Co., following his dismissal of another city lawsuit against the developer Feb. 22.

“We’re grateful to the court, for again ruling in our favor by recognizing that we were within our full legal right to seek a payment in lieu of taxes (agreement) through the Onondaga County Industrial Development Agency,” COR said in a statement. “It’s significant that we will be able to continue our relationship with OCIDA and Onondaga County, since OCIDA’s partnership, and the leadership of County Executive Joanie Mahoney will allow for the long-term sustainability, and success, of the Inner Harbor project.”

The city has not yet said whether it will appeal the decisions.

Syracuse Inner Harbor Developer COR Development Co. has filed a motion in State Supreme Court, which asked for the dismissal of the Syracuse Industrial Development Agency’s lawsuit seeking a $3.24 million fee from the company.

SIDA sued COR Jan. 23, claiming the company created a fiduciary responsibility to the agency when it applied for sales and mortgage tax exemptions in 2013, for the creation of a 134-room hotel on the inner harbor property.

According to SIDA, the company would have paid the agency $3.24 million, had it applied to the city for tax exemptions for the rest of its project, instead of applying to a county agency.

Previously, COR applied to the Onondaga County Industrial Development Agency for $44 million in tax breaks, which prompted Mayor Stephanie Miner to file a lawsuit against the company Dec. 15.

Miner said COR deliberately sought a tax relief deal, or “payment in lieu of taxes” (PILOT) deal, from OCIDA, in order to allow the company to avoid an agreement with the city, which would have bound the company to provide project-related jobs to city residents, and minorities, for the $324 million development project.

However, COR’s attorney said the company never told the city it did not intend to seek a PILOT from the county for the project, and the company has asked a judge to dismiss the city’s lawsuit as well.

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