11/30/2011Posted by MJ
The city’s deal with Hydraulic Race Company Inc. to turn Canal Street property into the base of a tourist attraction is off.While a nice fit in that area, I was a little hesitant to see 1/3 of the limited store fronts on Canal St. taken up by a seasonal business. A couple years back they sought variances to build on the land they own across street along the canal where the Holley buildings used to be but it sounds like they do not want to own. While nice to have their base close to the caves entrance, having it a little farther away increases the chances that visitors pass, and visit, other businesses.
Hydraulic Race Company, the corporate owner of the Lockport Cave & Underground Boat Tour, last month informed the city that it no longer wished to purchase 79 Canal St. for various reasons. Instead, it proposed entering a long-term lease with Greater Lockport Development Corporation, which has a long-term master lease on all Canal Street properties.
GLDC’s board of directors has declined to negotiate property rental with the tour company, GLDC’s attorney, John Ottaviano, informed the company in a letter dated Monday.
Further, the purchase deal offered by the city, signed by Mayor Michael Tucker this past April but not signed by either Clancy Burkwit or Thomas Callahan, the shareholders in Hydraulic Race Company, should be considered null and void now, Ottaviano’s letter said....
...He said there are two companies whose proposals will go before the Greater Lockport Development Corp. board Dec. 15. One is interested only in 51 Canal, while the other wants both 51 and 79 Canal.
The only occupant of Canal Street is Trek Inc., the Medina-based maker of electrostatic measuring equipment. In February, it leased two floors of 57 Canal, the largest of the three buildings, for $90,000 a year..
Meanwhile, Burkwit said Hydraulic Race is looking for an alternative in downtown Lockport to its current Lockport Cave headquarters in Old City Hall, 2 Pine St....
In a little over two weeks we shall here who the other two interested parties are. As a side, note I'd love to see some signage for Trek on 57 Canal st to advertise that there is indeed life there.