Syracuse IDA Board Meeting – September 16, 2025
Syracuse Industrial Development Agency Board Meeting – September 16, 2025
The Syracuse Industrial Development Agency (SIDA) board met on September 16, 2025, at 8:00 a.m. in the Common Council Chambers at Syracuse City Hall. The meeting included a public hearing, approval of minutes, a finance committee report, and votes on several resolutions. Key actions included approving a 20-year PILOT for a historic renovation at 31 Gannett Drive, authorizing a corporate restructuring for the McGuire dealership project, and granting a local access waiver for concrete foundations on the North Side Genesee project.
Public Hearing
- A public hearing was held for Swanton Fulton Street LLC / 31 Gannett Drive, regarding a project consisting of 83,000 square feet, 52 outdoor gated parking spots, and financial assistance including real property tax exemptions, sales and use tax exemptions (up to $804,525), and mortgage recording tax exemptions (up to $101,250). The applicant, Grazi Zazaro, stated the building has been vacant for at least 25 years, has received City Planning Commission (CPC) approval, and aims for a November/December 2025 construction start with a 12–13 month timeline. The project will use historic tax credits, with Huber Brewer as GC and Architects. No members of the public spoke in favor or opposition.
Consent Calendar
- Minutes from the August 19, 2025 meeting were approved unanimously.
- The finance committee reported a positive recommendation for the 311 GANAT project after a deep-dive review on September 9, 2025.
Discussion Items/Resolutions
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31 Gannett Drive (Swanton Fulton Street LLC): Three resolutions were approved:
- Inducement Resolution (unanimous): Authorizes SIDA to undertake the project, approves an agency agreement to be signed within 14 days, and authorizes sales/use tax benefits (max $804,525) and mortgage recording tax benefits (max $101,250).
- PILOT Resolution (unanimous): A 20-year PILOT under the Uniform Tax Exemption Policy (UTEP) due to the project's historic property eligibility, with abatements only on improvements (existing property taxes continue).
- Final Resolution (unanimous): Authorizes legal counsel to draft remaining transaction documents.
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McGuire Limited Partnership (Restructuring): A resolution was approved (unanimous) to clarify the corporate restructuring from a limited partnership to an LLC for the McGuire Chrysler/Dodge/Jeep dealership project on Hiawatha Boulevard (closed in 2020). The restructuring was initially authorized in January 2025 but required additional clarification. The same individuals will transition from general partners to managers/members; the change is a family restructuring in ownership percentages.
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North Side Genesee – Local Access Waiver: The board approved (unanimous) a waiver for the concrete foundation, slab, and reinforcement subcontract to Ragoni Foundations (approx. $3.5 million, or 5.4% of total construction costs). Background: The project was bid twice over two years due to financing delays; only 5 of 23 contractors submitted binding bids after a second solicitation, with 4 being local. The other 18 declined due to being busy. Of the $3.5 million, approximately 35–40% is materials, with reinforcing bar from non-local New Core but concrete from local suppliers.
Key Outcomes
- All resolutions were approved unanimously with no abstentions or opposition.
- The public hearing was closed with no public comment.
- A note was made that the project manager for Grazi's project will need to be informed of SIDA's new policies before bidding.
- Attendees were reminded to sign the attendance sheet.
- The meeting adjourned with a unanimous motion.
Meeting Transcript
I'd like to call to order a meeting of the Syracuse Industrial Development Agency. We'll start with a roll call of the board. I'm Kathy Murphy. Ricky Brown. Steve Thompson. Proof of notice was properly served for this meeting. And our first item on the agenda is a public hearing for Swanton Fulton Street LLC or 31 Gannett Drive. Eric. Good morning, everyone. Oh, and let me just say, sorry, Eric, before we start. You may notice that we are without counsel today. I'm sure she's listening. So we miss you soon. But um What can we do with it? Oh, we could do a lot. Oh my gosh. But should there be any item or any question or any concern? Number one, she's available by phone. Number two, we would of course double check it with counsel prior to final implementation. Yeah, and her assistant ears are here, Gori. So I'm pretty confident we're gonna be okay. All right, Eric. Absolutely. All right, no, thank you. Uh thank you and good morning, everyone. So notice is hereby given uh that a public hearing pursuant to Section 859-A of the New York General Municipal Law will be held by the City of Syracuse Industrial Development Agency on the 16th day of September 2025 at 8 a.m. local time at 233 East Washington Street in Common Council Chambers, City Hall, Syracuse, New York, in connection with the following matter. Swanson Fulton LLC, or an entity to be formed, requested the agency undertake a project consisting of the following. Uh as well as 52 outdoor gated parking spots. As well as uh and this includes the acquisition and installation in and on the land and facility of furniture, fixtures, and equipment, and the granting of certain financial assistance in the form of exemptions from real property tax, state and local sales and use tax, and mortgage recording tax. And the appointment of the company or its designee as an agent of the agency in connection with the acquisition, renovation, and equipping and completion of the project facility, and the lease of the land and facility by the agency pursuant to a lease agreement and the acquisition of an interest in the equipment pursuant to a bill of sale from the company to the agency, and the sublease of the project facility back to the company pursuant to a sublease agreement. And the sublease of the project facility back to the company pursuant to a sublease agreement. The company will be the initial owner or operator of the project facility. And the agency will at the above stated time and place with all persons with views with respect to the proposed financial assistance to the company, the proposed owner operator, and the location of the project facility and the nature of the project. So it's been a little while since I've had to read one of those. Thank you, Eric. Um the applicant Grazi Zazaro has joined us here this morning for the public hearing. Grazi, I would ask you to come up and just give us a brief overview of your project. I know it was described here. Eric did it much better than I'll do it here. Like you said, it's about 83,000 square feet. It's been vacant for at least 25 years that I know of. We've got plans in place. We've got approval by the uh CPC, and uh we hope to just get the project underway hopefully by November, December this year. What hurdles do you have in front of you? Um intake meeting, full permit, uh, hopefully get approval from you folks for some some benefits and and hit the ground running. What's the anticipated timeline again? I forgot you told me last year. It should be 12 to 13 month construction uh timeline, and it's looking like November or December start date. So I'd say January 2027 should be done.
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