Binghamton Carnegie Library Project in Jeopardy
A $20 million restoration project at the historic Carnegie Library building in downtown Binghamton may not move forward if a federal tax credit is eliminated.
SUNY Broome Community College has been planning to open a Culinary Arts Center in the vacant structure on Exchange Street.
The project hinges on the federal Historic Tax Credit, which would be scrapped under the proposed tax plan put forward by House Republicans in Washington.
SUNY Broome president Kevin Drumm said the development represents another potential obstacle for the long-delayed project at the library.
Speaking on WNBF Radio’s Binghamton Now program, Drumm said the possible elimination of the tax credit came “out of left field.”
Drumm said several million dollars are at stake for the project. He said if the tax credit program is dropped, SUNY Broome would have to rework the plan for the downtown center.
A groundbreaking ceremony for the project was held more than 13 months ago. Although asbestos has been removed from the old library building, work at the site has stopped.
The building has been vacant since the county’s new library opened more than 17 years ago.
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