Buffalo, N.Y. (WBEN) - With Braymiller Market closing it's downtown store at 201 Ellicott Street, the focus has turned to what will become of the $561,000 forgivable loan the city gave the market last spring?
The Buffalo Urban Renewal Agency could attempt to recoup the money, said Buffalo Common Councilman Mitch Nowakowski. However, from a practical standpoint, he said it may not happen.
"The Braymiller Market is a separate legal entity from the Hamburg store. The downtown store has a lot of hard debt," said Nowakowski in an appearance on WBEN. "I understand Council members want to get the [money] back, but in practicality, if it doesn't face litigation, it could be like getting water from a rock."
Nowakowski expects the Buffalo Urban Renewal Agency to make a determination shortly on whether the money can be called back.
"If we can get it back, we need to get it back. But I've been around the block a couple of times and I know how this works. We could say we want the money back, but in practicality, it could be really hard to extract it back," Nowakowski said.
One of the loan's requirements was that Braymiller stay open for two years.
Braymiller is facing imminent closure this week. No word on what will become of the building.
Related
