401 Central Avenue, Dunkirk

The Chautauqua County Industrial Development Agency Board has awarded more than $950,000 in tax credits for a bank building renovation project in the City of Dunkirk.

The project of 401 Central LLC includes the acquisition and renovation of the former Lake Shore National Bank The building, located at 401-403 Central Avenue, includes five market-rate apartments and 1,800 to 2,800 square feet of commercial space.

Peak Development Partner Founder and President Lee Crewson informed the board that the company had recently closed the building and had already replaced the roof to prevent further deterioration of the building.

The project costs $2.4 million, with $900,000 already awarded to the project. Initiative to revitalize the city center The IDA has been granting reductions in sales tax, property tax and land tax for over 15 years.

The project is expected to create 24 construction jobs and seven full-time jobs. The project is expected to be completed by September 2025.

Also at the IDA Board meeting on Tuesday, CEO Mark Geise announced that board member Steven Thorpe resigned after the July meeting due to his retirement. Thorpe was the union representative on the board and had held the position since 2018. He was the company representative for Local group of sheet metal workers No. 112 and the President of the Southwest New York Building and Trade Council.