Preservation Buffalo Niagara (PBN) is exploring a cooperative agreement with the Buffalo Niagara Medical Campus (BNMC) regarding the Trico Plant #1 Building. The objective of this agreement will be to identify an economically feasible, historic preservation appropriate, adaptive reuse proposal for the property. This cooperative agreement marks a milestone in the pursuit to rehabilitate the historic Trico Plant #1 Building. For over a year, Preservation Buffalo Niagara has been working in a limited advisory capacity with the BNMC to find a historic preservation reuse alternative for the property. This agreement would formalize that relationship and the effort to preserve and reuse this historic landmark.
A critical component of this renewed effort is for the final reuse proposal to be eligible for State and Federal Historic Tax Credits. Relevant studies and experts have previously noted that any potential adaptive reuse of Trico Plant #1 Building will need to depend heavily on historic tax credits and other public incentives. As is the case with numerous local and regional economic development projects, the historic tax credit incentive is a critical tool that allows projects of this magnitude and complexity to become financially feasible.
In order to guarantee the eligibility and the ultimate reuse of the Trico Plant #1 Building, Preservation Buffalo Niagara strongly supports the current local historic landmark application for the property. Such designation would not only allow for valuable public involvement in the reuse process but would also protect the historic integrity of the building and it’s eligibility for historic tax credits and/or other State and Federal funding. We ask the public to actively support the historic designation of the Trico Plant #1 Building by contacting their respective City of Buffalo Common Council Members before next Tuesday, April 30th’s Council meeting.
Preservation Buffalo Niagara is eager to assist the BNMC as well as the community in indentifying an economically feasible, historic preservation appropriate, adaptive reuse proposal for the historic Trico Plant #1 Building. This solution not only recognizes and honors the historic significance of the building but also ensures its future revitalization as an economic development success.
