State Funds Parking Project In Downtown Binghamton
VESTAL, NY (WSKG) - The City of Binghamton will have $2.15 million in state funding to spend on a new downtown parking garage. The facility will have about 304 spaces.
The Empire State Development grant will fund a project at 7 Hawley Street. Legislation authorizing the acceptance of those state funds was proposed Tuesday during a meeting of the Binghamton City Council.
With the new funds, the city need not pursue a mixed-use housing project on that site.
“Empire State Development has agreed to shift grant funding for this project to solely the parking garage component, exactly what the City of Binghamton advocated for all along,” said Mayor Rich David. “Our ultimate goal was to put together a deal that was financially in the best interest of taxpayers, regardless of how long that deal took.”
Binghamton will also end a development and "payment in lieu of taxes" agreement with the Rochester-based Pike Company, which was working on the project.
The city council is expected to consider the legislation on September 18th. If it's approved, site work will start this fall. Major construction should begin at the end of 2020.