Boscov Seeking “Long-Term Solution” for Binghamton Building
The chairman of the Boscov's department store chain is continuing to work with Binghamton officials to develop a plan to modernize the downtown space the company leases.
Jim Boscov, in a statement released by the mayor's office, said a new short-term lease will allow "more time to secure and implement a long-term solution to our aging building." The lease for the store at Court and Water streets has been extended to April 30, 2021.
The store reopened June 1 after being closed for more than two months because of the COVID-19 pandemic shutdown.
The lease calls for a $135,000 payment in lieu of taxes by Boscov's. The company also will pay $25,000 for use of the city-owned parking garage next to the store.
The city and Boscov's have been working for approval of millions of dollars in state assistance to make repairs to the 250,000-square-foot building and the parking facility.
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