Syracuse, N.Y. -- Destiny USA's expanding is finished, and Syracuse will pocket neither tax payments nor payments in lieu of taxes on the project for the next 30 years, Mayor Stephanie Miner announced today.
At an 11 a.m. news conference, Miner said developer Robert Congel told city officials Tuesday that the expansion of Carousel Center mall known as Destiny USA will go no further, despite years of promises by Congel that it would eventually mushroom into a major tourist attraction on par with Disney World.
Miner said the city will collect no tax dollars from the ongoing Carousel Center expansion for 30 years. Congel will be allowed to use the payments in lieu of taxes he makes on the project to pay off his construction bonds on the expansion.
City officials had made two deals during the past year under which Congel paid $2.5 million to extend the deadline for finishing the mall expansion and started another expansion.
Congel was facing another deadline at midnight tonight to begin building either a hotel next to his mall or additional retail space.
But that is not going to happen.
Contact Tim Knauss at email@example.com or 470-3023.