BUFFALO, N.Y. (WIVB) - News 4 has learned that a deal has been struck between BuffaloMayor Byron Brown an the Erie Canal Harbor Development Corporationto transfer 10 acres of land, critical to development of Buffalo'sinner harbor to the Harbor Development Corporation.
News 4's Senior Correspondent Rich Newberg reports that theHarbor Development Corporation will put up $7.5 million in exchangefor the title to the property, which includes the Websterblock.
The money will be earmarked for small business development andjob growth throughout the city's districts.
The city will also put in $2.5 million into that separate fund,to spur small business development, for a total of $10 million inthe fund.
The Erie Canal Harbor Development Corporation already controls21 acres of land, including the old Aud site, where a Bass Prooutdoor store is still on the drawing board.
The Harbor Development Corporation needs title to the other 10acres to begin developing more projects on the waterfront.
The common council must approve the deal, which could happen asearly as Tuesday or in a special session.
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