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BURA Denies Loan Forgiveness, Prioritizes Taxpayer Responsibility

3/14/2025

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Summary

Story summary

The Buffalo Urban Renewal Agency (BURA) denied loan forgiveness for Stuart Green's $561,000 Braymiller Market loan.
BURA will issue a default letter, making the city third in repayment priority.
The property needs to sell for over $6.5 million for the city to recover funds, which seems unlikely.
Council members supported the decision, prioritizing taxpayer responsibility over employment efforts.

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Story summary

The Buffalo Urban Renewal Agency (BURA) denied loan forgiveness for Stuart Green's $561,000 Braymiller Market loan.
BURA will issue a default letter, making the city third in repayment priority.
The property needs to sell for over $6.5 million for the city to recover funds, which seems unlikely.
Council members supported the decision, prioritizing taxpayer responsibility over employment efforts.