NCIDANiagara County Industrial Development Agency
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And regarding the expected pitch Wednesday for an extension, it should be noted that Reiter was listed as a part owner (19 percent) of the Bridgewater Estates project to be built on his mother's rezoned land during its initial success in securing $1.8 million in tax breaks from the NCIDA with the help of former, and once again IDA Chairman Henry Sloma.
Sloma took a break in between his chairman stints, and it was during that period that he admittedly helped prepare the application for tax breaks for Bridgewater before the NCIDA, the public benefit corporation he had chaired for seven years, and where he has since returned after assisting his friend Reiter's project win tax relief.
Never mind Sloma's obvious conflict, which would seem to force him to recuse himself from Wednesday's pitch by Bridgewater for an extension of the tax breaks as the project is mired in a lawsuit and zoning board delay as officials, prodded by the stories in this newspaper, seek to sort out what happened and how Bridgewater and its partner, at least in the initial NCIDA application, Steven Reiter, won approval from the town with nary a whimper about environmental issues, zoning changes, and much, much more.
You can't make this stuff up that goes with this Bridgewater story, like the fact that Bridgewater's attorney is now saying it was a mistake to list Reiter as a 19 percent partner on the original NCIDA application even though Bridgewater managing partner Anthony Cutaia was quoted in the Buffalo News in May of 2013 as saying a "minority ownership for the Reiters was part of the deal." Marjorie Reiter, Steven's mother, is a widow.
At this point, there are many more questions than answers, and it is time for the NCIDA to punt, with or without Sloma, who for a time was on the other team.
It is no small thing to make an application to the NCIDA.
Here is what Cutaia attested to as to his knowledge of who the owners were of Bridgewater, as listed on the NCIDA application:
Both as the land owner's son and by the fact that, up until the lawsuit commenced, Reiter was listed as a 19 percent owner of the apartment complex in sworn statements to the NCIDA. But he did not disclose to the town.
Bridgewater partners Anthony Cutaia and Fred Hanania listed Reiter as a 19 percent owner in the $12.3 million development, according to the NCIDA records.
The Bridgewater Estates application to the NCIDA asked Niagara County to give them $1.8 million in tax breaks.
Since taking office, Mangano and the NCIDA have helped create 960 new housing opportunities in Nassau County.
Since taking office, County Executive Mangano and the NCIDA have helped create 960 new housing opportunities in Nassau County.