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The Carousel Center, Syracuse, NY. Photo (detail): <a href="http://www.flickr.com/photos/j26/6381137451/">John Marino</a>, CC some rights reserved
The Carousel Center, Syracuse, NY. Photo (detail): John Marino, CC some rights reserved

Carousel Mall, Syracuse settle legal snags

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Syracuse's development agency and the developer of the Destiny USA shopping mall have reached a settlement to avoid several legal battles.

This week's agreement shuts down three different threats of legal action between Destiny USA's owner - The Pyramid Companies - and the City of Syracuse and its industrial development agency, or IDA.

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Reported by

Ryan Delaney
Reporter, The Innovation Trail

First, the IDA will return $2.2 million in payments received "under protest" from the mall last year - by forgoing collection of an annual $200,000 waterfront redevelopment payment for the next decade.

In addition, Destiny USA has agreed to take ownership of its overflow parking lots, putting the lots back on the tax rolls. They're worth about half-a-million in taxes.

Third, Destiny's developer will not sue Syracuse over the right to close a main road near the mall, for a once-planned expansion on those parking lots. The Common Council revoked that right late last year.

SIDA Chairman Bill Ryan says he's satisfied with the deal. “And I'm also very satisfied that all of these issues that were outstanding, I can focus my time on other issues and other problems that face the city.    “

Ryan says this is the first time in a decade the two sides were not facing court battles.

The bulk of the dueling legal threats stem from Pyramid's decision last year to utilize a loophole in its 30-year property tax break agreement.

The mall won't be expanded as much as originally promised, but the developer will keep its tax breaks.

Reporting by the Innovation Trail is supported by the Corporation for Public Broadcasting. Visit innovationtrail.org.

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