SYRACUSE, N.Y. – Senator David J. Valesky (D-Oneida) called on Governor Paterson to immediately release $120 million to spur development in upstate New York. A letter, co-authored by Senate Majority Leader Malcolm Smith and the Upstate Democratic Caucus, was sent to Governor Paterson urging the immediate release of the $120 million for Upstate New York.
ALBANY, N.Y.--The New York State Senate Finance Committee today passed the Historic Rehabilitation Tax Credit (HRTC) (S2960-A), sponsored by State Senator David J. Valesky (D-Oneida), sending this important economic stimulus and community revitalization legislation to the full Senate.
SYRACUSE, N.Y.—The New York State Senate today passed landmark economic development legislation sponsored by Senator David J. Valesky (D-Oneida) which would stimulate the Upstate economy and revitalize its communities through rehabilitation of historic properties.
It is not hard to describe the economic trend for Upstate New York over the last few decades. We have all watched as our main streets emptied out, our factories left town and our children moved away. These losses only increased the strains on our communities, pushing property taxes up on the businesses and families who have stayed.
The New York State Senate passed landmark economic development legislation sponsored by Senator David J. Valesky which would stimulate the Upstate economy and revitalize its communities through rehabilitation of historic properties.
The bill, S2960, would provide tax credits for redevelopment of qualified residential and commercial properties with the intention of creating an economic stimulus in distressed communities.
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