SYRACUSE, N.Y. (NCC News) — Renovating old hotels can provide significant tax breaks for hotel developments. Instead of constructing new hotels in Onondaga County, Attorney Kevin McAuliffe, wants to save money for everyone by redoing aging hotels.
Syracuse draws in tourists for University events and Lakeview Amphitheater performances, according to McAuliffe. Without a new tourist attraction, McAuliffe doesn’t believe the county should waste money on building new hotels.
“We explained to the Industrial Development Agency why they should think as this project differently,” McAuliffe said. “It’s bringing back life to dead property.”
The I.D.A. has recently banned hotel projects in Onondaga County, but McAuliffe says that they should consider renovating older hotels and give benefits for it.
“For the last 15 to 20 years, the Syracuse attraction market has been static,” McAuliffe said. “Because of that, there is no need to provide new hotels.”
McAuliffe’s clients have renovated an older hotel last year. But because of the recent I.D.A. ban on hotel developing, those same clients can’t renovate a different hotel this year.
This week, McAuliffe wants to advocate for a program with the I.D.A. that will provide tax breaks for hotels through renovations. According to McAuliffe, new hotels will increase the average daily rate for hotels in Onondaga County, which would also decrease the county’s overall revenue.
McAuliffe believes there shouldn’t be an issue if his clients want to provide capital for the county, but the benefits with that are most important.
“Everybody would benefit from my clients’ willingness to commit capital to that project,” McAuliffe said.