Oneonta, NY (WBNG Binghamton) Downtown Oneonta looks to be getting a bit of a makeover.
The Bresee Department store building on Main Street has been vacant for almost 10 years. But now a local developer from Corning is set to renovate the building to open up apartment and retail space.
The project is set to cost $9 million dollars. It is getting help from the Otsego County Industrial Development agency which is providing a sliding tax break for the first 10 years.
City officials say they will recoup the difference overtime if the building remains occupied.
"There are going to be apartment opportunities in this building that are not otherwise available in Oneonta. In fact, I personally, am looking at the top floor," said Dick Miller (D), Mayor of Oneonta.
The developer will pay $1 million dollars for the payment in lieu of taxes (PILOT). The developer says they already have commitments for retail space.