Mayor Stephanie A. Miner announced today she is opposed to any new public tax benefits for the planned Destiny hotel.
Last week, Mayor Miner and County Executive Joanie Mahoney received a letter from Destiny signaling their intent to build a 252 room hotel. Destiny indicated it would be seeking new tax breaks from the Onondaga County Industrial Development Agency (OCIDA). The Mayor said Destiny officials are seeking an 18-year payment in lieu of taxes deal exempting the developer from County and City taxes on the new hotel. The new exemption would cost taxpayers approximately $20 million in tax revenue.
Miner said today she believes any hotel construction to support the mall should be privately financed. She said the hotel should not receive public funds at a time when the City is searching for funds to fill police vacancies and address costly infrastructure issues.
Miner pointed out the Destiny project has already received an unprecedented tax break totaling hundreds of millions in lost revenue to the City and County. Destiny received a 30 year break on local taxes after it promised to build a LEED Platinum, 39-story, 1,342- room “Emerald 5 ShowTel and Conference Center.” Eighteen months ago, Destiny declared the project complete. Destiny had said while they would not be building the hotel or the other amenities it promised, they were still legally entitled to its 30 year PILOT.
“Destiny already has received an unprecedented tax break worth hundreds of millions of tax dollars for promising, among other things, a bigger hotel,” said Mayor Stephanie A. Miner. “They should not receive additional benefits for a project they failed to deliver. Most importantly, the community will not receive any material benefits for incenting a hotel next to a successful mall.”