Todd Shatkin, DDS, is requesting $394,000 in sales tax breaks to help Daemen University build a dental school in Amherst, N.Y., Buffalo News reported April 25.
Daemen University and Dr. Shatkin are partnering on a dental school and physical rehabilitation center. The dental school would be the second in the Buffalo-Niagara region.
Dr. Shatkin, of Shatkin Dental Health in Amherst, will invest $6 million-$7 million into the project, while Daemen University will cover operating costs and provide $500,000 for upgrading its anatomy labs.
Dr. Shatkin plans to cover the construction of the two facilities and lease the property to Daemen University. The sales tax Dr. Shatkin is incurring is included in the school's lease, and he is requesting $393,750 in tax breaks from the Amherst Industrial Development Agency.
The school and rehab center would be housed in two vacant facilities next to Shatkin's plastic and dental surgery clinic. Construction would include a buildout of a combined 23,713 square feet.
Project expenses include $4.8 million for renovation and reconstruction, $2 million for furniture and nonmanufacturing equipment, $550,000 in infrastructure and $500,000 in professional costs. About $2 million of funding for the project will come from developer equity and $5.85 million will come from bank loans.