November 2022 — 11-8-22-OCIDA-Regular-Board-Packet-condensed.pdf ================================================================ ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY 333 WEST WASHINGTON STREET, SUITE 130, SYRACUSE, NY 13202 PHONE: 315.435.3770  FAX: 315.435.3669  ONGOVED.COM Regular Meeting Agenda DRAFT November 8, 2022 8:00 AM Call to Order the Governance Committee 8:15 AM Call to Order the Meeting of the Agency 1. Approval of Minutes: October 6, 2022 Regular & October 20, 2022 Special Meetings Minutes 2. Treasurer’s Report 3. Payment of Bills 4. Conflict of Interest 1. Tocco Villaggio III, LLC (3101-22-07A) Initial Meeting Tocco Villaggio III, LLC is proposing to construct an approximately 208-unit apartment complex totaling approximately 295,000 square feet in the Town of Clay. The complex would have 8 apartment buildings consisting of one and two bedroom units along with interior and exterior amenities. The applicant is requesting exemptions from certain sales and use taxes and mortgage recording taxes. Agency Action Requested: a. A resolution of the Board authorizing a public hearing. Representative: James Trasher, P.E. CHA Consulting ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY 333 WEST WASHINGTON STREET, SUITE 130, SYRACUSE, NY 13202 PHONE: 315.435.3770  FAX: 315.435.3669  ONGOVED.COM Regular Meeting Agenda DRAFT November 8, 2022 8:00 AM Call to Order the Governance Committee 8:15 AM Call to Order the Meeting of the Agency 1. Approval of Minutes: October 6, 2022 Regular & October 20, 2022 Special Meetings Minutes 2. Treasurer’s Report 3. Payment of Bills 4. Conflict of Interest 1. Tocco Villaggio III, LLC (3101-22-07A) Initial Meeting Tocco Villaggio III, LLC is proposing to construct an approximately 208-unit apartment complex totaling approximately 295,000 square feet in the Town of Clay. The complex would have 8 apartment buildings consisting of one and two bedroom units along with interior and exterior amenities. The applicant is requesting exemptions from certain sales and use taxes and mortgage recording taxes. Agency Action Requested: a. A resolution of the Board authorizing a public hearing. Representative: James Trasher, P.E. CHA Consulting 2. Peregrine Holdings LLC (3101-22-09A) Initial Meeting Peregrine Holdings LLC is proposing to construct an assisted senior living residence with memory care services for persons with Alzheimer’s disease and other memory- related health concerns of approximately 37,000 square feet consisting of approximately 64 units and related amenities (including parking) in the Town of Manlius. The applicant is requesting exemptions from certain sales and use taxes, real property taxes and mortgage recording taxes. Agency Action Required: a. A resolution of the Board authorizing a public hearing. Representative: Stephen Bowman, President, Peregrine Holdings, LLC 5. G.A. Braun, Inc. (3101-15-8B) Modification Meeting Onondaga County Industrial Agency $5,644,670 original principal amount Multi- Modal Revenue Bonds (G.A. Braun, Inc. Project), Series 2105A (Tax- Exempt) and Series 2015B (Taxable) Agency Action Requested: a. A resolution of the Board (1) approving certain Bond modifications and (2) selecting Bond, Schoeneck and King as bond counsel for the Bond modifications. Representative: Robert Petrovich, Executive Director, OCIDA 6. OYA Camillus B (3101-20-17D) Modification Meeting OYA Camillus B, LLC is requesting the Board to consent to amend the legal description in its straight-lease transaction documents. Agency Action Requested: 2. Peregrine Holdings LLC (3101-22-09A) Initial Meeting Peregrine Holdings LLC is proposing to construct an assisted senior living residence with memory care services for persons with Alzheimer’s disease and other memory- related health concerns of approximately 37,000 square feet consisting of approximately 64 units and related amenities (including parking) in the Town of Manlius. The applicant is requesting exemptions from certain sales and use taxes, real property taxes and mortgage recording taxes. Agency Action Required: a. A resolution of the Board authorizing a public hearing. Representative: Stephen Bowman, President, Peregrine Holdings, LLC 5. G.A. Braun, Inc. (3101-15-8B) Modification Meeting Onondaga County Industrial Agency $5,644,670 original principal amount Multi- Modal Revenue Bonds (G.A. Braun, Inc. Project), Series 2105A (Tax- Exempt) and Series 2015B (Taxable) Agency Action Requested: a. A resolution of the Board (1) approving certain Bond modifications and (2) selecting Bond, Schoeneck and King as bond counsel for the Bond modifications. Representative: Robert Petrovich, Executive Director, OCIDA 6. OYA Camillus B (3101-20-17D) Modification Meeting OYA Camillus B, LLC is requesting the Board to consent to amend the legal description in its straight-lease transaction documents. Agency Action Requested: a. A resolution of the Board authorizing an omnibus amendment and any related documents to amend the legal description of the straight-lease transaction documents. Representative: Jeffrey Davis, Legal Counsel, OCIDA 7. Abundant Solar Power (E1), LLC. (3101-20-13B) Modification Meeting Abundant Solar Power (E1), LLC is requesting the Board to consent to the sale of its membership interests and to amend the legal description in its straight-lease transaction documents. Agency Action Requested: a. A resolution of the Board consenting to the sale of membership interest of a company with a current straight-lease transaction and authorizing an omnibus amendment and any related documents to amend the legal description of the straight- lease transaction documents. Representative: Jeffrey Davis, Legal Counsel, OCIDA 2 8. White Pine Property – Authorization of Activities a. A resolution of the Board authorizing an omnibus amendment and any related documents to amend the legal description of the straight-lease transaction documents. Representative: Jeffrey Davis, Legal Counsel, OCIDA 7. Abundant Solar Power (E1), LLC. (3101-20-13B) Modification Meeting Abundant Solar Power (E1), LLC is requesting the Board to consent to the sale of its membership interests and to amend the legal description in its straight-lease transaction documents. Agency Action Requested: a. A resolution of the Board consenting to the sale of membership interest of a company with a current straight-lease transaction and authorizing an omnibus amendment and any related documents to amend the legal description of the straight- lease transaction documents. Representative: Jeffrey Davis, Legal Counsel, OCIDA 2 8. White Pine Property – Authorization of Activities Agency Action Requested: a. A resolution of the Board authorizing the Executive Director to: (i) (A) engage Rambol, a previously approved engineering firm supporting the White Pine property, to commence the development of bid/procurement package(s) for the inspection, abatement and potential demolition of vacant Agency-owned structures at the White Pine property; (B) utilize the Onondaga County Division of Purchase to manage such public bidding related to Agency public bids for the White Pine property; (ii) engage Rambol to procure, select, coordinate and oversee subcontract(s) for survey and topographic work at the White Pine property; (iii) complete any necessary regulatory and permitting requirements and engage in discussions for possible arrangement with the Town of Clay Fire Department to conduct controlled burns of certain structures at the White Pine property to support training of fire department personnel, as requested by the Town of Clay Fire Department. Representative: Robert Petrovich, Executive Director, OCIDA Agency Action Requested: a. A resolution of the Board authorizing the Executive Director to: (i) (A) engage Rambol, a previously approved engineering firm supporting the White Pine property, to commence the development of bid/procurement package(s) for the inspection, abatement and potential demolition of vacant Agency-owned structures at the White Pine property; (B) utilize the Onondaga County Division of Purchase to manage such public bidding related to Agency public bids for the White Pine property; (ii) engage Rambol to procure, select, coordinate and oversee subcontract(s) for survey and topographic work at the White Pine property; (iii) complete any necessary regulatory and permitting requirements and engage in discussions for possible arrangement with the Town of Clay Fire Department to conduct controlled burns of certain structures at the White Pine property to support training of fire department personnel, as requested by the Town of Clay Fire Department. Representative: Robert Petrovich, Executive Director, OCIDA 9. A Request for Proposal (RFP) for Public Relations/Marketing Services The Agency is proposing to issue a request for proposal for firms to provide public relations and marketing services regarding OCIDA projects and economic opportunities in Onondaga County and in support of OCIDAs mission to stimulate economic development, growth and general prosperity for the people of Onondaga County. Agency Action Requested a. A resolution of the Board to authorize the issuance of a RFP for public relations/marketing services. Representative: Robert Petrovich, Executive Direction, OCIDA Executive Session 3 10. Acceptance of Onondaga County Funding Agency Action Requested: b. A resolution of the board authorizing and ratifying the Executive Director to enter into a contract amendment with Onondaga County in connection with assisting economic development efforts of OCIDA Representative: Robert Petrovich, Executive Director, OCIDA 11. Purchase Contract Execution Authorization to enter into purchase contract for one parcel of property. Agency Action Requested: a. A resolution of the board authorizing the adoption of a SEQRA determination. b. A resolution of the Board authorizing the Executive Director to enter into a purchase contract and any related documents with respect to one parcel of property. 9. A Request for Proposal (RFP) for Public Relations/Marketing Services The Agency is proposing to issue a request for proposal for firms to provide public relations and marketing services regarding OCIDA projects and economic opportunities in Onondaga County and in support of OCIDAs mission to stimulate economic development, growth and general prosperity for the people of Onondaga County. Agency Action Requested a. A resolution of the Board to authorize the issuance of a RFP for public relations/marketing services. Representative: Robert Petrovich, Executive Direction, OCIDA Executive Session 3 10. Acceptance of Onondaga County Funding Agency Action Requested: b. A resolution of the board authorizing and ratifying the Executive Director to enter into a contract amendment with Onondaga County in connection with assisting economic development efforts of OCIDA Representative: Robert Petrovich, Executive Director, OCIDA 11. Purchase Contract Execution Authorization to enter into purchase contract for one parcel of property. Agency Action Requested: a. A resolution of the board authorizing the adoption of a SEQRA determination. b. A resolution of the Board authorizing the Executive Director to enter into a purchase contract and any related documents with respect to one parcel of property. Representative: Robert Petrovich, Executive Director, OCIDA Adjourn 4 DRAFT Onondaga County Industrial Development Agency Regular Meeting Minutes October 6, 2022 A regular meeting of the Onondaga County Industrial Development Agency was held on Thursday, October 6, 2022 at 333 West Washington Street, Syracuse, New York in the large conference room on the first floor. Patrick Hogan called the meeting to order at 8:10 am with the following: PRESENT: Patrick Hogan Janice Herzog Victor Ianno Susan Stanczyk Kevin Ryan Steve Morgan Fanny Villarreal ABSENT: ALSO PRESENT: Robert M. Petrovich, Executive Director Nate Stevens, Treasurer Nancy Lowery, Secretary Karen Doster, Recording Secretary Alexis Rodriguez, Assistant Treasurer Jeff Davis, Barclay Damon Law Firm Brian Gerling, Barclay Damon Law Firm Matthew Pelligra, Office of Economic Development Parminder Banga, Cryomech, Inc. Rich Dausman, Cryomech, Inc. Jessica Kolodzie, Cyromech, Inc. Vince Raymond, VIP Structures Sarah Stevens, SS Funding Sources Suhail Partawi, Hinsdale Road Bruce Armistead, Hinsdale Road Anthony D’Elia, Hinsdale Road Chad Hill, Hinsdale Road Mike Lisson, Grossman St. Amour PLLC Brianah Lane, Grossman St. Amour PLLC APPROVAL OF REGULAR MEETING MINUTES – SEPTEMBER 13, 2022 & OCTOBER 3, 2022 SPECIAL MEETING Representative: Robert Petrovich, Executive Director, OCIDA Adjourn 4 DRAFT Onondaga County Industrial Development Agency Regular Meeting Minutes October 6, 2022 A regular meeting of the Onondaga County Industrial Development Agency was held on Thursday, October 6, 2022 at 333 West Washington Street, Syracuse, New York in the large conference room on the first floor. Patrick Hogan called the meeting to order at 8:10 am with the following: PRESENT: Patrick Hogan Janice Herzog Victor Ianno Susan Stanczyk Kevin Ryan Steve Morgan Fanny Villarreal ABSENT: ALSO PRESENT: Robert M. Petrovich, Executive Director Nate Stevens, Treasurer Nancy Lowery, Secretary Karen Doster, Recording Secretary Alexis Rodriguez, Assistant Treasurer Jeff Davis, Barclay Damon Law Firm Brian Gerling, Barclay Damon Law Firm Matthew Pelligra, Office of Economic Development Parminder Banga, Cryomech, Inc. Rich Dausman, Cryomech, Inc. Jessica Kolodzie, Cyromech, Inc. Vince Raymond, VIP Structures Sarah Stevens, SS Funding Sources Suhail Partawi, Hinsdale Road Bruce Armistead, Hinsdale Road Anthony D’Elia, Hinsdale Road Chad Hill, Hinsdale Road Mike Lisson, Grossman St. Amour PLLC Brianah Lane, Grossman St. Amour PLLC APPROVAL OF REGULAR MEETING MINUTES – SEPTEMBER 13, 2022 & OCTOBER 3, 2022 SPECIAL MEETING Upon a motion by Victor Ianno, seconded by Janice Herzog, the OCIDA Board approved the regular meeting minutes of September 13, 2022 and special meeting minutes of October 3, 3022. Fanny Villarreal abstained from vote for September 13, 2022 minutes. Motion was carried. TREASURER’S REPORT Nate Stevens gave a brief review of the Treasurer’s Report for the month of September 2022. Upon a motion by Victor Ianno, seconded by Janice Herzog, the OCIDA Board approved the Treasurer’s Report for the month of September 2022. Motion was carried. Upon a motion by Victor Ianno, seconded by Janice Herzog, the OCIDA Board approved the regular meeting minutes of September 13, 2022 and special meeting minutes of October 3, 3022. Fanny Villarreal abstained from vote for September 13, 2022 minutes. Motion was carried. TREASURER’S REPORT Nate Stevens gave a brief review of the Treasurer’s Report for the month of September 2022. Upon a motion by Victor Ianno, seconded by Janice Herzog, the OCIDA Board approved the Treasurer’s Report for the month of September 2022. Motion was carried. PAYMENT OF BILLS Nate Stevens gave a brief review of the Payment of Bills Schedule #474 Upon a motion by Janice Herzog, seconded by Victor Ianno, the OCIDA Board approved the Payment of Bills Schedule #474 for $3,193,461.90. Motion was carried. PAYMENT OF BILLS Nate Stevens gave a brief review of the Payment of Bills Schedule #474 Upon a motion by Janice Herzog, seconded by Victor Ianno, the OCIDA Board approved the Payment of Bills Schedule #474 for $3,193,461.90. Motion was carried. CONFLICT OF INTEREST DISCLOSURE The Conflict of Interest was circulated and there were no conflicts reported. CONFLICT OF INTEREST DISCLOSURE The Conflict of Interest was circulated and there were no conflicts reported. CVE US EI4 MANLIUS NORTH, LLC (3101-21-16A) MODIFICATION MEETING 2 Nancy Lowery stated there are 3 solar projects in Manlius that came before the Board from CVE and they were approved for benefits. She stated they are back before the Board because of some changes in the size of the acreage, how they were breaking it down for each project and the amount of their project has increased. She stated they came back before the Board with the modifications to the application and requesting another public hearing because benefits exceeded $100,000 which requires an additional public hearing. She stated the public hearing was held and there were no comments. Patrick Hogan asked if the local labor provision was impressed upon CVE. Robert Petrovich stated yes. Nancy Lowery stated conversations have been held with them to understand the policy better. She stated at this point they don’t see a problem but if there was they have a better understanding of what they will need to provide to the Agency for a waiver. 2 Upon a motion by Victor Ianno, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing additional financial assistance the Agency will provide (and confirming the prior authorization of financial assistance) for the CVE EI4 Manlius North, LLC project. Motion was carried. CVE US EI4 MANLIUS NORTH, LLC (3101-21-16A) MODIFICATION MEETING 2 Nancy Lowery stated there are 3 solar projects in Manlius that came before the Board from CVE and they were approved for benefits. She stated they are back before the Board because of some changes in the size of the acreage, how they were breaking it down for each project and the amount of their project has increased. She stated they came back before the Board with the modifications to the application and requesting another public hearing because benefits exceeded $100,000 which requires an additional public hearing. She stated the public hearing was held and there were no comments. Patrick Hogan asked if the local labor provision was impressed upon CVE. Robert Petrovich stated yes. Nancy Lowery stated conversations have been held with them to understand the policy better. She stated at this point they don’t see a problem but if there was they have a better understanding of what they will need to provide to the Agency for a waiver. 2 Upon a motion by Victor Ianno, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing additional financial assistance the Agency will provide (and confirming the prior authorization of financial assistance) for the CVE EI4 Manlius North, LLC project. Motion was carried. CVE US EI5 MANLIUS EAST, LLC (3101-21-17B) MODIFICATION MEETING 2 Upon a motion by Victor Ianno, seconded by Steve Morgan, the OCIDA Board approved a resolution authorizing additional financial assistance the Agency will provide (and confirming the prior authorization of financial assistance for the CVE EI5 Manlius East, LLC project. Motion was carried. CVE US EI5 MANLIUS EAST, LLC (3101-21-17B) MODIFICATION MEETING 2 Upon a motion by Victor Ianno, seconded by Steve Morgan, the OCIDA Board approved a resolution authorizing additional financial assistance the Agency will provide (and confirming the prior authorization of financial assistance for the CVE EI5 Manlius East, LLC project. Motion was carried. CVE US EI6 MANLIUS WEST, LLC (3101-21-18C) MODIFICATION MEETING 2 Upon a motion by Kevin Ryan, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing additional financial assistance the Agency will provide (and confirming the prior authorization of financial assistance for the CVE EI6 Manlius West, LLC project. Motion was carried. CRYOMECH, INC. (3101-22-08A) INITIAL MEETING Parminder Banga stated Cryomech, Inc. was founded in 1963 by William E. Gifford while he was teaching at Syracuse University as a Professor of mechanical engineering. He stated in 2014 they transitioned to an ESOP structure (Employee Stock Owned Plan) and next year they will be celebrating their 60th anniversary. He stated 60% of their business is international and ship all over the world and they operate in 7 continents in many world renowned laboratories, universities and research entities including SU, MIT, Lincoln Labs, Stanford NIST FermiLab, NASA and many more. He stated they manufacture the most comprehensive line of cryo coolers that are used in many applications throughout the world. He stated their current headcount is 162 full time employees and they are actively recruiting for 26 openings throughout Cryomech. He stated payroll is about $10.2 million. He stated with the proposed addition they are looking 3 CVE US EI6 MANLIUS WEST, LLC (3101-21-18C) MODIFICATION MEETING 2 Upon a motion by Kevin Ryan, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing additional financial assistance the Agency will provide (and confirming the prior authorization of financial assistance for the CVE EI6 Manlius West, LLC project. Motion was carried. CRYOMECH, INC. (3101-22-08A) INITIAL MEETING Parminder Banga stated Cryomech, Inc. was founded in 1963 by William E. Gifford while he was teaching at Syracuse University as a Professor of mechanical engineering. He stated in 2014 they transitioned to an ESOP structure (Employee Stock Owned Plan) and next year they will be celebrating their 60th anniversary. He stated 60% of their business is international and ship all over the world and they operate in 7 continents in many world renowned laboratories, universities and research entities including SU, MIT, Lincoln Labs, Stanford NIST FermiLab, NASA and many more. He stated they manufacture the most comprehensive line of cryo coolers that are used in many applications throughout the world. He stated their current headcount is 162 full time employees and they are actively recruiting for 26 openings throughout Cryomech. He stated payroll is about $10.2 million. He stated with the proposed addition they are looking 3 to add 15 more seats throughout Cryomech and bring the total to approximately 203. He stated there are numerous applications their clients use. He stated quantum computing is a big topic of discussion in the area and is made operational by making certain materials really cold. He stated you can do it by two ways; by using liquid nitrogen, liquid helium or low temperature cryo coolers and Cryomech makes both. He stated their product offerings are heavily used by large companies including IBM, Google and a lot of big names for their day to day technology use. He stated there are a lot of startups coming on board as well and are in some sort of development phase. He stated medical and life sciences which is similar to quantum computers is based on getting super conducting materials cold. He stated they are producing cryo for research and development pieces that are a higher rating than you would see at a hospital today. He stated another developing technology is proton therapy and in essence it is looking at the precise treatments for addressing and treating tumors. He stated this is a new and upcoming field and a lot of development has happened to avoid mass alteration of the body so you can target the medical treatment. He stated the last is future energy, generally talking about hydrogen fuel cells. He stated this technology is rapidly developing in many different phases all over the world. He stated future energy is a day to day application for any sort of transportation. He stated Cryomech is involved in a lot of development that is happening all over the world. to add 15 more seats throughout Cryomech and bring the total to approximately 203. He stated there are numerous applications their clients use. He stated quantum computing is a big topic of discussion in the area and is made operational by making certain materials really cold. He stated you can do it by two ways; by using liquid nitrogen, liquid helium or low temperature cryo coolers and Cryomech makes both. He stated their product offerings are heavily used by large companies including IBM, Google and a lot of big names for their day to day technology use. He stated there are a lot of startups coming on board as well and are in some sort of development phase. He stated medical and life sciences which is similar to quantum computers is based on getting super conducting materials cold. He stated they are producing cryo for research and development pieces that are a higher rating than you would see at a hospital today. He stated another developing technology is proton therapy and in essence it is looking at the precise treatments for addressing and treating tumors. He stated this is a new and upcoming field and a lot of development has happened to avoid mass alteration of the body so you can target the medical treatment. He stated the last is future energy, generally talking about hydrogen fuel cells. He stated this technology is rapidly developing in many different phases all over the world. He stated future energy is a day to day application for any sort of transportation. He stated Cryomech is involved in a lot of development that is happening all over the world. Fanny Villarreal asked what kind of jobs Cryomech is hiring. Parminder Banga stated the jobs are across the board so anyone in manufacturing to engineering and development. Fanny Villarreal asked when the jobs will be created. Parminder Banga stated at the pace they are going he is hoping immediately but that needs to be looked at a little bit more. Vince Raymond stated there is an estimation on the application over the first three years. Nancy Lowery stated it is broken down on the bottom of the PILOT Janice Herzog asked if this is computing that will replace the systems we have now and how does it fit into society. Parminder Banga stated in essence it is removing the super computers that are doing a lot of the background work. He stated in the finance, medical or research they need a lot more quantum computing or computing power and these computers will do that. He stated eventually some road maps will touch the cloud based technology that everyone can interact with for personal storage, accessing or whatever application they come up with. 4 Patrick Hogan stated it is a home grown industry with a $17 million dollar investment. He asked how long the PILOT is. Nate Stevens stated it is 10 years and the old PILOT will go away and will be replaced by the new PILOT. Fanny Villarreal asked what kind of jobs Cryomech is hiring. Parminder Banga stated the jobs are across the board so anyone in manufacturing to engineering and development. Fanny Villarreal asked when the jobs will be created. Parminder Banga stated at the pace they are going he is hoping immediately but that needs to be looked at a little bit more. Vince Raymond stated there is an estimation on the application over the first three years. Nancy Lowery stated it is broken down on the bottom of the PILOT Janice Herzog asked if this is computing that will replace the systems we have now and how does it fit into society. Parminder Banga stated in essence it is removing the super computers that are doing a lot of the background work. He stated in the finance, medical or research they need a lot more quantum computing or computing power and these computers will do that. He stated eventually some road maps will touch the cloud based technology that everyone can interact with for personal storage, accessing or whatever application they come up with. 4 Patrick Hogan stated it is a home grown industry with a $17 million dollar investment. He asked how long the PILOT is. Nate Stevens stated it is 10 years and the old PILOT will go away and will be replaced by the new PILOT. Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved a resolution authoring a public hearing for the Cryomech, Inc project. Motion was carried. Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved a resolution authoring a public hearing for the Cryomech, Inc project. Motion was carried. HINSDALE ROAD GROUP, LLC (3101-14-02B) MODIFICATION MEETING Anthony D’Elia stated his client is purchasing the hotel and the hotel is subject to a PILOT. He stated they would like to take an assumption to the Agency documents and keep the PILOT in place. He stated in addition there is a financing component and they are not requesting any financial assistance but the Agency has a lease/leaseback so they are asking the Agency to sign onto the mortgage with the protective IDA provisions. Kevin Ryan asked if the project will continue to operate as a hotel. Anthony D’Elia stated yes. Kevin Ryan asked if it will be the same brand. Suhail Partawi stated the hotel will continue as a Tru Hilton Hotel. Upon a motion by Victor Ianno, seconded by Susan Stanczyk, the OCIDA Board approved a resolution approving the assignment of the right, title and interest in a Project Facility by Hotel @T5 LLC to tenants-in-common Eastern Shore Retirement Associates Limited Partnership, Shorewash of Annapolis LLC, CHJ New York, LLC and Camillus Ventures I LLC and consent to the reacted master lease to Camillus Ventures MT LLC. Motion was carried. HINSDALE ROAD GROUP, LLC (3101-14-02B) MODIFICATION MEETING Anthony D’Elia stated his client is purchasing the hotel and the hotel is subject to a PILOT. He stated they would like to take an assumption to the Agency documents and keep the PILOT in place. He stated in addition there is a financing component and they are not requesting any financial assistance but the Agency has a lease/leaseback so they are asking the Agency to sign onto the mortgage with the protective IDA provisions. Kevin Ryan asked if the project will continue to operate as a hotel. Anthony D’Elia stated yes. Kevin Ryan asked if it will be the same brand. Suhail Partawi stated the hotel will continue as a Tru Hilton Hotel. Upon a motion by Victor Ianno, seconded by Susan Stanczyk, the OCIDA Board approved a resolution approving the assignment of the right, title and interest in a Project Facility by Hotel @T5 LLC to tenants-in-common Eastern Shore Retirement Associates Limited Partnership, Shorewash of Annapolis LLC, CHJ New York, LLC and Camillus Ventures I LLC and consent to the reacted master lease to Camillus Ventures MT LLC. Motion was carried. REVIEW OF AGENCY BUDGET FOR 2023 Nate Stevens stated the Finance Committee reviewed and passed the 2023 budget today. He stated staff is looking to get it approved before the filing deadline to the State at the end of this month. 5 8 Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved the Agency 2023 Budget. Motion was carried. REVIEW OF AGENCY BUDGET FOR 2023 Nate Stevens stated the Finance Committee reviewed and passed the 2023 budget today. He stated staff is looking to get it approved before the filing deadline to the State at the end of this month. 5 8 Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved the Agency 2023 Budget. Motion was carried. ADJOURN Upon a motion by Victor Ianno, seconded by Janice Herzog, the OCIDA Board adjourned the meeting at 8:30 am. Motion was carried. _________________________________ Nancy Lowery, Secretary 6 9 ADJOURN Upon a motion by Victor Ianno, seconded by Janice Herzog, the OCIDA Board adjourned the meeting at 8:30 am. Motion was carried. _________________________________ Nancy Lowery, Secretary 6 9 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY 333 WASHINGTON STREET, SUITE 130, SYRACUSE, NY 13202 PHONE: 315.435.3770 • FAX: 315.435.3669 October 31, 2022 2022 Budget Current YTD Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating Revenue 127,439 2,389,664 1,444,000 945,664 Operating Expense 54,992 503,899 800,000 (296,101) Program Expense 10,646 981,774 644,000 337,774 Net Ordinary Income 61,801 903,992 - 903,992 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY 333 WASHINGTON STREET, SUITE 130, SYRACUSE, NY 13202 PHONE: 315.435.3770 • FAX: 315.435.3669 October 31, 2022 2022 Budget Current YTD Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating Revenue 127,439 2,389,664 1,444,000 945,664 Operating Expense 54,992 503,899 800,000 (296,101) Program Expense 10,646 981,774 644,000 337,774 Net Ordinary Income 61,801 903,992 - 903,992 Current Assets Current YTD Prior YTD Total Cash 3,055,710 2,650,898 Less Pass Through Received 2,596 74,064 Available Cash 3,053,114 2,576,835 Receivables (less pass through rec.) 377,869 14,500 Grant Reimbursements - - Total 3,430,983 2,591,335 Receivables 0-120 days 377,869 > 120 days - Total 377,869 10 Onondaga County Industrial Development Agency Profit and Loss October 2022 Current Assets Current YTD Prior YTD Total Cash 3,055,710 2,650,898 Less Pass Through Received 2,596 74,064 Available Cash 3,053,114 2,576,835 Receivables (less pass through rec.) 377,869 14,500 Grant Reimbursements - - Total 3,430,983 2,591,335 Receivables 0-120 days 377,869 > 120 days - Total 377,869 10 Onondaga County Industrial Development Agency Profit and Loss October 2022 TOTAL Income 500 Operating Revenue 2116 Fees 2116.1 Agency Fees 126,025.00 Total 2116 Fees 126,025.00 2410 Lease Income 750.00 Total 500 Operating Revenue 126,775.00 501 Non-Operating Revenue 2401 Interest Income 453.65 501.2 Other Non-Operating Revenue 210.00 Total 501 Non-Operating Revenue 663.65 534 Pilot & Pass Thru Revenue 529 PILOT Income 2,596.44 Total 534 Pilot & Pass Thru Revenue 2,596.44 Total Income $130,035.09 GROSS PROFIT $130,035.09 Expenses 6400 Operating Expense 6406 Other Professional Services 6406.50 Consulting Services 2,500.00 Total 6406 Other Professional Services 2,500.00 6407 Administrative Expense 54,991.84 6408 Meeting Expenses 137.83 6409 Conference Attendence 3,398.26 6410 Office Expense 1,086.33 Total 6400 Operating Expense 62,114.26 6500 Agency Program Expenses 6510 White Pine Commerce Park 6510.4 Other Expenses 1,500.00 6510.5 Insurance 2,023.16 Total 6510 White Pine Commerce Park 3,523.16 Total 6500 Agency Program Expenses 3,523.16 6600 Non-Operating Expenses 6605 Pilot & Pass Thru Expenses 6605.2 PILOT Expense 2,596.44 Total 6605 Pilot & Pass Thru Expenses 2,596.44 Total 6600 Non-Operating Expenses 2,596.44 Total Expenses $68,233.86 NET OPERATING INCOME $61,801.23 NET INCOME $61,801.23 TOTAL Income 500 Operating Revenue 2116 Fees 2116.1 Agency Fees 126,025.00 Total 2116 Fees 126,025.00 2410 Lease Income 750.00 Total 500 Operating Revenue 126,775.00 501 Non-Operating Revenue 2401 Interest Income 453.65 501.2 Other Non-Operating Revenue 210.00 Total 501 Non-Operating Revenue 663.65 534 Pilot & Pass Thru Revenue 529 PILOT Income 2,596.44 Total 534 Pilot & Pass Thru Revenue 2,596.44 Total Income $130,035.09 GROSS PROFIT $130,035.09 Expenses 6400 Operating Expense 6406 Other Professional Services 6406.50 Consulting Services 2,500.00 Total 6406 Other Professional Services 2,500.00 6407 Administrative Expense 54,991.84 6408 Meeting Expenses 137.83 6409 Conference Attendence 3,398.26 6410 Office Expense 1,086.33 Total 6400 Operating Expense 62,114.26 6500 Agency Program Expenses 6510 White Pine Commerce Park 6510.4 Other Expenses 1,500.00 6510.5 Insurance 2,023.16 Total 6510 White Pine Commerce Park 3,523.16 Total 6500 Agency Program Expenses 3,523.16 6600 Non-Operating Expenses 6605 Pilot & Pass Thru Expenses 6605.2 PILOT Expense 2,596.44 Total 6605 Pilot & Pass Thru Expenses 2,596.44 Total 6600 Non-Operating Expenses 2,596.44 Total Expenses $68,233.86 NET OPERATING INCOME $61,801.23 NET INCOME $61,801.23 Accrual Basis Wednesday, November 2, 2022 01:20 PM GMT-04:00 1/1 11 Onondaga County Industrial Development Agency Balance Sheet As of October 31, 2022 Accrual Basis Wednesday, November 2, 2022 01:20 PM GMT-04:00 1/1 11 Onondaga County Industrial Development Agency Balance Sheet As of October 31, 2022 TOTAL ASSETS Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 2,174,008.22 200.2 Cash - M & T Money Maker Savings 890,609.87 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 3,055,710.27 Total Bank Accounts $3,055,710.27 Accounts Receivable 380 Accounts Rec. 380.6 A/R Fees, Lease & PILOT 377,869.00 Total 380 Accounts Rec. 377,869.00 Total Accounts Receivable $377,869.00 Total Current Assets $3,433,579.27 Fixed Assets 100 Land 101 White Pines Commerce Park 20,184,626.49 101.1 WPCP GEIS 101.101 CHA GEIS 1 267,452.05 101.102 CHA GEIS 2 219,439.36 101.104 GEIS Reg Plan Board Overview 19,797.74 Total 101.1 WPCP GEIS 506,689.15 101.2 WPCP Legal 69,774.25 101.3 Engineering Services 52,675.00 101.301 Temporary Access 4,055.44 101.4 Environmental/Demo Services 10,318.98 Total 101.3 Engineering Services 67,049.42 101.5 Land Acquisition Costs 101.501 Land Purchases 1,160,063.57 101.502 Closing Costs 3,168.14 Total 101.5 Land Acquisition Costs 1,163,231.71 101.6 WPCP Marketing 3,599.96 Total 101 White Pines Commerce Park 21,994,970.98 106 North Salina Properties 0.00 106.1 435 North Salina 17,083.55 106.3 435 North Salina Building 634,421.53 Total 106 North Salina Properties 651,505.08 107 800 Hiawatha 604,840.42 TOTAL ASSETS Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 2,174,008.22 200.2 Cash - M & T Money Maker Savings 890,609.87 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 3,055,710.27 Total Bank Accounts $3,055,710.27 Accounts Receivable 380 Accounts Rec. 380.6 A/R Fees, Lease & PILOT 377,869.00 Total 380 Accounts Rec. 377,869.00 Total Accounts Receivable $377,869.00 Total Current Assets $3,433,579.27 Fixed Assets 100 Land 101 White Pines Commerce Park 20,184,626.49 101.1 WPCP GEIS 101.101 CHA GEIS 1 267,452.05 101.102 CHA GEIS 2 219,439.36 101.104 GEIS Reg Plan Board Overview 19,797.74 Total 101.1 WPCP GEIS 506,689.15 101.2 WPCP Legal 69,774.25 101.3 Engineering Services 52,675.00 101.301 Temporary Access 4,055.44 101.4 Environmental/Demo Services 10,318.98 Total 101.3 Engineering Services 67,049.42 101.5 Land Acquisition Costs 101.501 Land Purchases 1,160,063.57 101.502 Closing Costs 3,168.14 Total 101.5 Land Acquisition Costs 1,163,231.71 101.6 WPCP Marketing 3,599.96 Total 101 White Pines Commerce Park 21,994,970.98 106 North Salina Properties 0.00 106.1 435 North Salina 17,083.55 106.3 435 North Salina Building 634,421.53 Total 106 North Salina Properties 651,505.08 107 800 Hiawatha 604,840.42 Accrual Basis Wednesday, November 2, 2022 01:21 PM GMT-04:00 1/3 12 Onondaga County Industrial Development Agency Balance Sheet As of October 31, 2022 Accrual Basis Wednesday, November 2, 2022 01:21 PM GMT-04:00 1/3 12 Onondaga County Industrial Development Agency Balance Sheet As of October 31, 2022 TOTAL Total 100 Land 23,251,316.48 104 Machinery & Equipment 104.1 Office Furniture 1,429.00 104.2 Equipment 4,589.00 Total 104 Machinery & Equipment 6,018.00 211 A/D Office Furniture -3,493.00 213 A/D Buildings -97,603.00 250 Investment in Real Property 6,180,006.00 Total Fixed Assets $29,336,244.48 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $32,771,465.51 TOTAL Total 100 Land 23,251,316.48 104 Machinery & Equipment 104.1 Office Furniture 1,429.00 104.2 Equipment 4,589.00 Total 104 Machinery & Equipment 6,018.00 211 A/D Office Furniture -3,493.00 213 A/D Buildings -97,603.00 250 Investment in Real Property 6,180,006.00 Total Fixed Assets $29,336,244.48 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $32,771,465.51 LIABILITIES AND EQUITY Liabilities Current Liabilities Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 503,898.24 600.102 Due to BD WPCP 42,216.66 600.204 OHB Redev LLC Funds 400,000.00 600.205 Exp Pay Prev Period 133.14 600.206 Mileage Reimbursement 92.34 600.208 BlueRock Energy Agreement Deposit 25,000.00 600.209 Syracuse Rail Overpayment 500.00 600.3 Onondaga County Loan 19,429,708.62 600.31 Accrued Interest - OC Note Payable 2,129.00 Total 600.3 Onondaga County Loan 19,431,837.62 Total 600 Accounts Payable 20,403,678.00 601 PILOT and Pass Thru Payable 602 Pass Thru Payable -525,000.00 603 PILOT Pass Thru 527,596.45 604 Other Pass Thrus -0.30 Total 601 PILOT and Pass Thru Payable 2,596.15 631 Due to Other Governments 631.3 Schools 631.356 Syracuse 0.01 Total 631.3 Schools 0.01 631.5 City of Syracuse 0.01 LIABILITIES AND EQUITY Liabilities Current Liabilities Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 503,898.24 600.102 Due to BD WPCP 42,216.66 600.204 OHB Redev LLC Funds 400,000.00 600.205 Exp Pay Prev Period 133.14 600.206 Mileage Reimbursement 92.34 600.208 BlueRock Energy Agreement Deposit 25,000.00 600.209 Syracuse Rail Overpayment 500.00 600.3 Onondaga County Loan 19,429,708.62 600.31 Accrued Interest - OC Note Payable 2,129.00 Total 600.3 Onondaga County Loan 19,431,837.62 Total 600 Accounts Payable 20,403,678.00 601 PILOT and Pass Thru Payable 602 Pass Thru Payable -525,000.00 603 PILOT Pass Thru 527,596.45 604 Other Pass Thrus -0.30 Total 601 PILOT and Pass Thru Payable 2,596.15 631 Due to Other Governments 631.3 Schools 631.356 Syracuse 0.01 Total 631.3 Schools 0.01 631.5 City of Syracuse 0.01 Accrual Basis Wednesday, November 2, 2022 01:21 PM GMT-04:00 2/3 13 Onondaga County Industrial Development Agency Balance Sheet As of October 31, 2022 TOTAL Total 631 Due to Other Governments 0.02 Total Other Current Liabilities $20,406,274.17 Total Current Liabilities $20,406,274.17 Total Liabilities $20,406,274.17 Equity 3900 Equity Unreserved 8,742,531.91 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 530,603.47 465 Equity - Unreserved -157,774.47 Net Income 903,991.80 Total Equity $12,365,191.34 TOTAL LIABILITIES AND EQUITY $32,771,465.51 Accrual Basis Wednesday, November 2, 2022 01:21 PM GMT-04:00 2/3 13 Onondaga County Industrial Development Agency Balance Sheet As of October 31, 2022 TOTAL Total 631 Due to Other Governments 0.02 Total Other Current Liabilities $20,406,274.17 Total Current Liabilities $20,406,274.17 Total Liabilities $20,406,274.17 Equity 3900 Equity Unreserved 8,742,531.91 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 530,603.47 465 Equity - Unreserved -157,774.47 Net Income 903,991.80 Total Equity $12,365,191.34 TOTAL LIABILITIES AND EQUITY $32,771,465.51 Accrual Basis Wednesday, November 2, 2022 01:21 PM GMT-04:00 3/3 14 Accrual Basis Wednesday, November 2, 2022 01:21 PM GMT-04:00 3/3 14 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY PAYMENT OF BILLS - SCHEDULE #475 November 8, 2022 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY PAYMENT OF BILLS - SCHEDULE #475 November 8, 2022 GENERAL EXPENSES 1. PARK STRATEGIES, LLC* $ 2,500.00 October 2022, Inv#16587199 2. ADVANCE MEDIA NEW YORK* $ 689.75 September 2022 Public Hearings, Inv#0002924222 3. BROWN & BROWN OF NEW YORK, INC. - SYRACUSE* $ 2,023.16 WPCP Commercial Liability Insurance Premium, Inv#10127718 4. BARCLAY DAMON LLP** $ 1,770,112.58 Purchase of Land 5. BARCLAY DAMON LLP*** $ 1,011,976.59 Purchase of Land 6. NATIONWIDE**** $ 1,965.49 Commercial Liability Insurance Premium, Acct#7J2551 7. BARCLAY DAMON LLP***** $ 2,517,941.85 Purchase of Land 8. BARCLAY DAMON LLP $ 73,543.86 WPCP Real Estate, Inv#'s 5160434, 5164836, 5170127, 5178038 9. BARCLAY DAMON LLP $ 1,875.00 WPCP Eminent Domain, Inv#5170128 10. NYS ECONOMIC DEVELOPMENT COUNCIL $ 2,000.00 NY Loves Nanotech 11. BARCLAY DAMON LLP $ 15.00 Roth Steel, Inv#5209068 12. FEDEX $ 30.15 Inv#'s 7-901-06649, 7-916-29614, 7-924-05115 1 GENERAL EXPENSES 1. PARK STRATEGIES, LLC* $ 2,500.00 October 2022, Inv#16587199 2. ADVANCE MEDIA NEW YORK* $ 689.75 September 2022 Public Hearings, Inv#0002924222 3. BROWN & BROWN OF NEW YORK, INC. - SYRACUSE* $ 2,023.16 WPCP Commercial Liability Insurance Premium, Inv#10127718 4. BARCLAY DAMON LLP** $ 1,770,112.58 Purchase of Land 5. BARCLAY DAMON LLP*** $ 1,011,976.59 Purchase of Land 6. NATIONWIDE**** $ 1,965.49 Commercial Liability Insurance Premium, Acct#7J2551 7. BARCLAY DAMON LLP***** $ 2,517,941.85 Purchase of Land 8. BARCLAY DAMON LLP $ 73,543.86 WPCP Real Estate, Inv#'s 5160434, 5164836, 5170127, 5178038 9. BARCLAY DAMON LLP $ 1,875.00 WPCP Eminent Domain, Inv#5170128 10. NYS ECONOMIC DEVELOPMENT COUNCIL $ 2,000.00 NY Loves Nanotech 11. BARCLAY DAMON LLP $ 15.00 Roth Steel, Inv#5209068 12. FEDEX $ 30.15 Inv#'s 7-901-06649, 7-916-29614, 7-924-05115 1 15 Schedule #475 page 2 13. ONONDAGA CIVIC DEVELOPMENT CORPORATION $ 13,400.35 3rd Q 2022 Rent 14. ONONDAGA CIVIC DEVELOPMENT CORPORATION $ 1,014.46 3rd Q 2022 Internet & Copier 15. CRYSTAL ROCK $ 54.23 Inv#22196031, 10-30-22 TOTAL $ 5,399,142.47 *Ratification of Checks dated October 13, 2022 **Ratification of Check dated October 21, 2022 ***Ratification of Check dated October 31, 2022 ****Ratification of Check dated November 1, 2022 *****Ratification of Check dated November 7, 2022 2 16 15 Schedule #475 page 2 13. ONONDAGA CIVIC DEVELOPMENT CORPORATION $ 13,400.35 3rd Q 2022 Rent 14. ONONDAGA CIVIC DEVELOPMENT CORPORATION $ 1,014.46 3rd Q 2022 Internet & Copier 15. CRYSTAL ROCK $ 54.23 Inv#22196031, 10-30-22 TOTAL $ 5,399,142.47 *Ratification of Checks dated October 13, 2022 **Ratification of Check dated October 21, 2022 ***Ratification of Check dated October 31, 2022 ****Ratification of Check dated November 1, 2022 *****Ratification of Check dated November 7, 2022 2 16 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY PAYMENT OF BILL - SCHEDULE #475 November 8, 2022 PILOT Payments 1. CITY OF SYRACUSE $ 1,510.14 Syracuse Rail 3rd Q PILOT Payment 2. ONONDAGA COUNTY $ 970.99 Syracuse Rail 3rd Q PILOT Payment 3. TOWN OF ONONDAGA $ 3.03 Syracuse Rail 3rd Q PILOT Payment 4. TOWN OF DEWITT $ 14.88 Syracuse Rail 3rd Q PILOT Payment 5. JAMESVILLE-DEWIT CSD $ 97.40 Syracuse Rail 3rd Q PILOT Payment TOTAL $2,596.44 1 17 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY PAYMENT OF BILL - SCHEDULE #475 November 8, 2022 PILOT Payments 1. CITY OF SYRACUSE $ 1,510.14 Syracuse Rail 3rd Q PILOT Payment 2. ONONDAGA COUNTY $ 970.99 Syracuse Rail 3rd Q PILOT Payment 3. TOWN OF ONONDAGA $ 3.03 Syracuse Rail 3rd Q PILOT Payment 4. TOWN OF DEWITT $ 14.88 Syracuse Rail 3rd Q PILOT Payment 5. JAMESVILLE-DEWIT CSD $ 97.40 Syracuse Rail 3rd Q PILOT Payment TOTAL $2,596.44 1 17 Onondaga County Industrial Development Agency Project Summary DRAFT 11/1/2022 1. Project Tocco Villaggio III, LLC 2. Project Number 3101-22-07A 3. Location Clay 4. School District North Syracuse School District 6. Project Type New Construction 5. Tax Parcel(s) 051.-01-02.1 Village Clay Onondaga County Industrial Development Agency Project Summary DRAFT 11/1/2022 1. Project Tocco Villaggio III, LLC 2. Project Number 3101-22-07A 3. Location Clay 4. School District North Syracuse School District 6. Project Type New Construction 5. Tax Parcel(s) 051.-01-02.1 Village Clay 7.Total Project Cost $ 57,000,000.00 8. Total Jobs 4 Land $ 4,200,000 8A. Job Retention 0 Site Work $ 6,900,000 8B: Job Creation 4 Building $ 38,000,000 (Next 5 Years) Furniture & Fixtures $ 4,100,000 Equipment $ - Equipment Subject to NYS Production Exemption $ - Engineering/Architecture Fees $ 1,100,000 Financial Charges $ 2,000,000 Legal Fees $ 100,000 Other $ 600,000 Investment: Abatement Ratio Tocco Villaggio III, LLC Project Description Fiscal Impact ($) Estimated Abatement Cost $3,058,500 Sales Tax Abatement $2,736,000 Mortgage Recording Tax Abatement $322,500 Real Property Tax Relief $0 7.Total Project Cost $ 57,000,000.00 8. Total Jobs 4 Land $ 4,200,000 8A. Job Retention 0 Site Work $ 6,900,000 8B: Job Creation 4 Building $ 38,000,000 (Next 5 Years) Furniture & Fixtures $ 4,100,000 Equipment $ - Equipment Subject to NYS Production Exemption $ - Engineering/Architecture Fees $ 1,100,000 Financial Charges $ 2,000,000 Legal Fees $ 100,000 Other $ 600,000 Investment: Abatement Ratio Tocco Villaggio III, LLC Project Description Fiscal Impact ($) Estimated Abatement Cost $3,058,500 Sales Tax Abatement $2,736,000 Mortgage Recording Tax Abatement $322,500 Real Property Tax Relief $0 New Investment $78,174,500 PILOT Payments $0 The project consists of eight (8) twenty-six unit (26) apartment buildings in The Town of Clay. Project Wages (10 years) $1,835,000 The project will create four (4) jobs. The apartment buildings consist of one and two bedroom Construction Wages $26,118,000 apartments. The apartment sizes range from 800 to 1,500 square feet. Amenities with the community include a fitness center, pool, community room and kitchen, walking trails and Employee Benefits (10 years) $550,500 sidewalks, and pet amenity areas. Project Capital Investment $49,100,000 Agency Fees $571,000 Benefit:Cost Ratio 25.56 :1 Copyright Onondaga County Industry Development Agency, All Rights Reserved 18 New Investment $78,174,500 PILOT Payments $0 The project consists of eight (8) twenty-six unit (26) apartment buildings in The Town of Clay. Project Wages (10 years) $1,835,000 The project will create four (4) jobs. The apartment buildings consist of one and two bedroom Construction Wages $26,118,000 apartments. The apartment sizes range from 800 to 1,500 square feet. Amenities with the community include a fitness center, pool, community room and kitchen, walking trails and Employee Benefits (10 years) $550,500 sidewalks, and pet amenity areas. Project Capital Investment $49,100,000 Agency Fees $571,000 Benefit:Cost Ratio 25.56 :1 Copyright Onondaga County Industry Development Agency, All Rights Reserved 18 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY APPLICATION FOR BENEFITS 1. In accordance with Section 224-a(8)(d) of Article 8 of the New York Labor Law, the Agency has identified that any “financial assistance” (within the meaning of Section 858 of the General Municipal Law) granted by the Agency to the Applicant consisting of sales and use tax exemption benefits, mortgage recording tax exemption benefits and real property tax exemption benefits, constitutes “public funds” within the meaning of Section 224-a(2)(b) of Article 8 of the New York Labor Law and such funds are not excluded under Section 224-a(3) of Article 8 of the New York Labor Law. The Agency hereby notifies the Applicant of the Applicant’s obligations under Section 224-a (8)(a) of Article 8 of the New York Labor Law. 2. Fill in all blanks using “none”, “not applicable” or “not available”. If you have any questions about the way to respond, please call the Onondaga County Industrial Development Agency (the “Agency” or “OCIDA”) at 315-435-3770. 3. If providing an estimate put “(est.)” after the figure or answer. If more space is needed to answer any specific question, attach a separate sheet. 4. If the OCIDA Board approves benefits, it is the company’s responsibility to obtain and submit all necessary forms and documents. ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY APPLICATION FOR BENEFITS 1. In accordance with Section 224-a(8)(d) of Article 8 of the New York Labor Law, the Agency has identified that any “financial assistance” (within the meaning of Section 858 of the General Municipal Law) granted by the Agency to the Applicant consisting of sales and use tax exemption benefits, mortgage recording tax exemption benefits and real property tax exemption benefits, constitutes “public funds” within the meaning of Section 224-a(2)(b) of Article 8 of the New York Labor Law and such funds are not excluded under Section 224-a(3) of Article 8 of the New York Labor Law. The Agency hereby notifies the Applicant of the Applicant’s obligations under Section 224-a (8)(a) of Article 8 of the New York Labor Law. 2. Fill in all blanks using “none”, “not applicable” or “not available”. If you have any questions about the way to respond, please call the Onondaga County Industrial Development Agency (the “Agency” or “OCIDA”) at 315-435-3770. 3. If providing an estimate put “(est.)” after the figure or answer. If more space is needed to answer any specific question, attach a separate sheet. 4. If the OCIDA Board approves benefits, it is the company’s responsibility to obtain and submit all necessary forms and documents. 5. All projects approved for benefits by the OCIDA Board will close with the Agency within 6-months of the inducement date. If this schedule cannot be met, the applicant will need to submit a closing schedule modification written request to the Executive Director that will be presented to OCIDA Board for consideration. 6. When completed, return this Application by mail or fax to the Agency at the address indicated below. A signed application may also be submitted electronically in PDF format to Nancy Lowery at nancylowery@ongov.net. An Application will not be considered by the Agency until the Application fee has been received. 7. The Agency will not give final approval for this Application until the Agency receives a completed NYS Full Environmental Assessment Form concerning the project which is the subject of this Application. The form is available at http://www.dec.ny.gov/permits/6191.html. 5. All projects approved for benefits by the OCIDA Board will close with the Agency within 6-months of the inducement date. If this schedule cannot be met, the applicant will need to submit a closing schedule modification written request to the Executive Director that will be presented to OCIDA Board for consideration. 6. When completed, return this Application by mail or fax to the Agency at the address indicated below. A signed application may also be submitted electronically in PDF format to Nancy Lowery at nancylowery@ongov.net. An Application will not be considered by the Agency until the Application fee has been received. 7. The Agency will not give final approval for this Application until the Agency receives a completed NYS Full Environmental Assessment Form concerning the project which is the subject of this Application. The form is available at http://www.dec.ny.gov/permits/6191.html. 8. Please note the Public Officers Law declares all records in the possession of the OCIDA (with certain limited exceptions) are open to public inspection and copying. If the Applicant is of the opinion that there are elements of the project which are in the nature of trade secrets which, if disclosed to the public or otherwise widely disseminated, would cause substantial injury to the Applicant’s competitive position, this Applicant must identify such elements in writing and request that such elements be kept confidential. In accordance with Article 6 of the Public Officer’s Law, the OCIDA may also redact personal, private, and/or proprietary information from publicly disseminated documents. 9. The Applicant will be required to pay the Agency Application fee and, if accepted as a project of the Agency, all administrative and legal fees as stated in Section VI of the Application. Onondaga County Industrial Development Agency Page 1 19 8. Please note the Public Officers Law declares all records in the possession of the OCIDA (with certain limited exceptions) are open to public inspection and copying. If the Applicant is of the opinion that there are elements of the project which are in the nature of trade secrets which, if disclosed to the public or otherwise widely disseminated, would cause substantial injury to the Applicant’s competitive position, this Applicant must identify such elements in writing and request that such elements be kept confidential. In accordance with Article 6 of the Public Officer’s Law, the OCIDA may also redact personal, private, and/or proprietary information from publicly disseminated documents. 9. The Applicant will be required to pay the Agency Application fee and, if accepted as a project of the Agency, all administrative and legal fees as stated in Section VI of the Application. Onondaga County Industrial Development Agency Page 1 19 10. A complete Application consists of the following 9 items:  This Application  Local Access Agreement  Employment Plan  Conflict of Interest  A feasibility statement indicating the need for the requested benefits  Description of Project, Site Plans/Sketches, and Maps  NYS Full Environmental Assessment Form  A check payable to the Agency in the amount of $1,000  A check payable to Barclay Damon LLP in the amount of $2,500 11. This Application was adopted by the OCIDA Board on January 18, 2022. Onondaga County Industrial Development Agency Page 2 20 It is the policy of the Agency that any project receiving benefits from the Onondaga County Industrial Development Agency will utilize 100% local contractors and local labor for the construction period of the project unless a waiver is granted in writing by the Agency. Return to: Onondaga County Industrial Development Agency Attn: Nancy Lowery 333 W. Washington Street, Suite 130 Syracuse, NY 13202 Phone: 315-435-3770 | Fax: 315-435-3669 nancylowery@ongov.net 10. A complete Application consists of the following 9 items:  This Application  Local Access Agreement  Employment Plan  Conflict of Interest  A feasibility statement indicating the need for the requested benefits  Description of Project, Site Plans/Sketches, and Maps  NYS Full Environmental Assessment Form  A check payable to the Agency in the amount of $1,000  A check payable to Barclay Damon LLP in the amount of $2,500 11. This Application was adopted by the OCIDA Board on January 18, 2022. Onondaga County Industrial Development Agency Page 2 20 It is the policy of the Agency that any project receiving benefits from the Onondaga County Industrial Development Agency will utilize 100% local contractors and local labor for the construction period of the project unless a waiver is granted in writing by the Agency. Return to: Onondaga County Industrial Development Agency Attn: Nancy Lowery 333 W. Washington Street, Suite 130 Syracuse, NY 13202 Phone: 315-435-3770 | Fax: 315-435-3669 nancylowery@ongov.net Section I: Applicant Information Please answer all questions. Use “None”, “Not Applicable” and “See Attached” where necessary. Submittal Date: _____________ 8/4/2022 A) Applicant/Project Operator information (company receiving benefits): Applicant/Project Operator: Click here to enter text. Tocco Villaggio III, LLC Applicant/ Project Operator Address: 8351 Pareti Place Phone: 315-652-4664 Fax: Website: E-mail: jalberic@verizon.ent Federal ID#: 88-3892315 NAICS: State and Year of Incorporation/Organization: __________________________________________ 2022, NY State Owner (if different from Applicant/Project Operator): ____________________________________ Owner Address: Federal ID#: State and Year of Incorporation/Organization: List of stockholders, members, or partners of Owner: ________________________________________________________________________________ B) Individual Completing Application: Name: James Trasher (CHA Consulting Inc.) Title: Vice President Address: 300 S. State Street, Suite 600 Syracuse, NY 13210 Phone: 315-471-3920 Fax: E-mail: jtrasher@chacompanies.com Onondaga County Industrial Development Agency Page 1 Section I: Applicant Information Please answer all questions. Use “None”, “Not Applicable” and “See Attached” where necessary. Submittal Date: _____________ 8/4/2022 A) Applicant/Project Operator information (company receiving benefits): Applicant/Project Operator: Click here to enter text. Tocco Villaggio III, LLC Applicant/ Project Operator Address: 8351 Pareti Place Phone: 315-652-4664 Fax: Website: E-mail: jalberic@verizon.ent Federal ID#: 88-3892315 NAICS: State and Year of Incorporation/Organization: __________________________________________ 2022, NY State Owner (if different from Applicant/Project Operator): ____________________________________ Owner Address: Federal ID#: State and Year of Incorporation/Organization: List of stockholders, members, or partners of Owner: ________________________________________________________________________________ B) Individual Completing Application: Name: James Trasher (CHA Consulting Inc.) Title: Vice President Address: 300 S. State Street, Suite 600 Syracuse, NY 13210 Phone: 315-471-3920 Fax: E-mail: jtrasher@chacompanies.com Onondaga County Industrial Development Agency Page 1 21 C) Company Contact (if different from individual completing application): Name: Title: Address: Phone: Cell Phone: E-mail: D) Company Counsel: Name of Attorney: Robert Smith Firm Name: Costello, Cooney & Fearon Address: 211 West Jefferson Street, Suite 1 Phone: 315-422-1152 Cell Phone: 315-952-1960 E-mail: rsmith@ccf-law.com E) Business Organization (check appropriate category): ☐ Corporation ☐Partnership ☐ Public Corporation ☐Joint Venture ☐ Sole Proprietorship ☐Limited Liability Company ☐ Other (please specify): Year Established: 2022 State in which Organization is established: NY F) List all stockholders, members, or partners with % of ownership greater than 5%: Name % of ownership Joseph E. Alberici 50% Joseph G. Alberici 50% Onondaga County Industrial Development Agency Page 2 22 G) Applicant Business Description: Estimated % of sales within Onondaga County: ________________________________________ 100 21 C) Company Contact (if different from individual completing application): Name: Title: Address: Phone: Cell Phone: E-mail: D) Company Counsel: Name of Attorney: Robert Smith Firm Name: Costello, Cooney & Fearon Address: 211 West Jefferson Street, Suite 1 Phone: 315-422-1152 Cell Phone: 315-952-1960 E-mail: rsmith@ccf-law.com E) Business Organization (check appropriate category): ☐ Corporation ☐Partnership ☐ Public Corporation ☐Joint Venture ☐ Sole Proprietorship ☐Limited Liability Company ☐ Other (please specify): Year Established: 2022 State in which Organization is established: NY F) List all stockholders, members, or partners with % of ownership greater than 5%: Name % of ownership Joseph E. Alberici 50% Joseph G. Alberici 50% Onondaga County Industrial Development Agency Page 2 22 G) Applicant Business Description: Estimated % of sales within Onondaga County: ________________________________________ 100 Estimated % of sales outside Onondaga County but within New York State: 0 Estimated % of sales outside New York State but within the U.S.: 0 Estimated % of sales outside the U.S.: 0 (*Percentage to equal 100%) H) Applicant History: If the answer to any of the following is “Yes”, please explain below. If necessary, attach additional information. 1. Is the company or management of the Company now a ☐Yes ☐No plaintiff or defendant in any civil or criminal litigation? 2. Has any person listed above ever been convicted of a criminal offense (other than a minor traffic violation)? ☐Yes ☐No 3. Has any person listed in Section I ever been in receivership or declared bankruptcy? Please attach any explanations. ☐Yes ☐No I) Has the Project Beneficiary received assistance from OCIDA, Syracuse Industrial Development Agency (SIDA), New York State or the Onondaga Civic Development Corporation (OCDC) in the past? If yes please attach an explanation and please give year, project name, and description of benefits and address of project. ☐Yes ☐No Onondaga County Industrial Development Agency Page 3 Section II: Project and Site Information Estimated % of sales outside Onondaga County but within New York State: 0 Estimated % of sales outside New York State but within the U.S.: 0 Estimated % of sales outside the U.S.: 0 (*Percentage to equal 100%) H) Applicant History: If the answer to any of the following is “Yes”, please explain below. If necessary, attach additional information. 1. Is the company or management of the Company now a ☐Yes ☐No plaintiff or defendant in any civil or criminal litigation? 2. Has any person listed above ever been convicted of a criminal offense (other than a minor traffic violation)? ☐Yes ☐No 3. Has any person listed in Section I ever been in receivership or declared bankruptcy? Please attach any explanations. ☐Yes ☐No I) Has the Project Beneficiary received assistance from OCIDA, Syracuse Industrial Development Agency (SIDA), New York State or the Onondaga Civic Development Corporation (OCDC) in the past? If yes please attach an explanation and please give year, project name, and description of benefits and address of project. ☐Yes ☐No Onondaga County Industrial Development Agency Page 3 Section II: Project and Site Information A) Project Location: Location where the investment will take place. If Company is moving, the new location should be entered here and the current location should be in Section I. Address: 8351 Pareti Place Legal Address (if different): City: Village/Town: Clay Zip Code: 13041 School District: North Syracuse Tax Map Parcel ID(s): 051.-01-02.1 Full Market Value: ________________ 1,347,305 Footage of Existing Building: _________________ NA Census Tract: ___________________________________________________________________ 113.00 B) Type (Check all that apply): ☐New construction ☐Purchase of machinery and/or equipment ☐Expansion/Addition to current facilities ☐Brownfield/Remediated Brownfield ☐Renovation of existing facility ☐LEED Certification ☐ Housing Project ☐Demolition and Construction ☐ Renewable Energy Project ☐Acquisition of existing facility/property ☐ Retail ☐Other: A) Project Location: Location where the investment will take place. If Company is moving, the new location should be entered here and the current location should be in Section I. Address: 8351 Pareti Place Legal Address (if different): City: Village/Town: Clay Zip Code: 13041 School District: North Syracuse Tax Map Parcel ID(s): 051.-01-02.1 Full Market Value: ________________ 1,347,305 Footage of Existing Building: _________________ NA Census Tract: ___________________________________________________________________ 113.00 B) Type (Check all that apply): ☐New construction ☐Purchase of machinery and/or equipment ☐Expansion/Addition to current facilities ☐Brownfield/Remediated Brownfield ☐Renovation of existing facility ☐LEED Certification ☐ Housing Project ☐Demolition and Construction ☐ Renewable Energy Project ☐Acquisition of existing facility/property ☐ Retail ☐Other: C) Project Narrative: A statement that there is a likelihood that the project would not be undertaken but for the financial assistance provided by the Agency or, if the project could be undertaken without financial assistance provided by the Agency, a statement indicating why the project should be undertaken by the agency. * For a Retail Project (also see page 14) * For a Renewable Energy Project (also see page 15) * For a Housing Project (also see page 17) D) Description of Project: Please provide a detailed narrative of the proposed Project. Please separately attach the description and any copies of site plans, sketches or maps. This narrative should include, but is not limited to: ☐ i) a description of your Company’s background, customers, goods and services and the principal products to be produced and/or the principal activities that will occur on the Project site; ☐ (ii) the size of the Project in square feet and a breakdown of square footage per each intended use; ☐ (iii) the size of the lot upon which the Project sits or is to be constructed; ☐ (iv) the current use of the site and the intended use of the site upon completion of the Project; ☐ (vi) describe your method for site control (Own, lease, other). Onondaga County Industrial Development Agency Page 4 C) Project Narrative: A statement that there is a likelihood that the project would not be undertaken but for the financial assistance provided by the Agency or, if the project could be undertaken without financial assistance provided by the Agency, a statement indicating why the project should be undertaken by the agency. * For a Retail Project (also see page 14) * For a Renewable Energy Project (also see page 15) * For a Housing Project (also see page 17) D) Description of Project: Please provide a detailed narrative of the proposed Project. Please separately attach the description and any copies of site plans, sketches or maps. This narrative should include, but is not limited to: ☐ i) a description of your Company’s background, customers, goods and services and the principal products to be produced and/or the principal activities that will occur on the Project site; ☐ (ii) the size of the Project in square feet and a breakdown of square footage per each intended use; ☐ (iii) the size of the lot upon which the Project sits or is to be constructed; ☐ (iv) the current use of the site and the intended use of the site upon completion of the Project; ☐ (vi) describe your method for site control (Own, lease, other). Onondaga County Industrial Development Agency Page 4 E) Select Project type for all end users at Project site (you may check more than one): **Please check any and all end users as identified below ☐ Industrial ☐Bank Office ☐ Acquisition of Existing Facility ☐Retail ( see page 14) ☐ Housing Project ( see page 17 ) ☐Mixed Use ☐ Equipment Purchase ☐Facility for Aging ☐ Multi-Use Tenant ☐Civic Facility (not for profit) ☐ Renewable Energy Project ( see page 15) ☐Other ______________________ ☐ Commercial F) If applicant will not occupy 100% of the building in a real estate transaction, provide information on tenant(s) that includes name, present address, and percentage of project to be leased, type of business organization, relationship to applicant, date and term of lease. G) For the Agency to consider this Project, please provide the following information: 1. Does the Project consist of new construction or expansion or substantial renovation of an existing facility? ☐Yes ☐No 2. Will the Project create new employment opportunities or retain existing jobs that may otherwise be lost? ☐Yes ☐No 3. Does the Project beneficiary serve a customer base primarily outside of Onondaga County? E) Select Project type for all end users at Project site (you may check more than one): **Please check any and all end users as identified below ☐ Industrial ☐Bank Office ☐ Acquisition of Existing Facility ☐Retail ( see page 14) ☐ Housing Project ( see page 17 ) ☐Mixed Use ☐ Equipment Purchase ☐Facility for Aging ☐ Multi-Use Tenant ☐Civic Facility (not for profit) ☐ Renewable Energy Project ( see page 15) ☐Other ______________________ ☐ Commercial F) If applicant will not occupy 100% of the building in a real estate transaction, provide information on tenant(s) that includes name, present address, and percentage of project to be leased, type of business organization, relationship to applicant, date and term of lease. G) For the Agency to consider this Project, please provide the following information: 1. Does the Project consist of new construction or expansion or substantial renovation of an existing facility? ☐Yes ☐No 2. Will the Project create new employment opportunities or retain existing jobs that may otherwise be lost? ☐Yes ☐No 3. Does the Project beneficiary serve a customer base primarily outside of Onondaga County? ☐Yes ☐No H) Will the completion of the Project result in the removal of an industrial or manufacturing plant of the company from one area of the state to another area of the state OR in the abandonment of one or more plants or facilities of the company located within the state? Please explain if you answer “Yes” by attaching a response. ☐Yes ☐No I) Please attach a description of any compelling circumstances the Agency should be aware of while reviewing this application. J) Local Approvals (Site Plan and Environmental Review) 1. Have site plans been submitted to the appropriate town or local planning department? ☐Yes. What is the status? ☐No. When will the plans be submitted? _______________________________________________________ Approved, ready for construction Onondaga County Industrial Development Agency Page 5 ☐Yes ☐No H) Will the completion of the Project result in the removal of an industrial or manufacturing plant of the company from one area of the state to another area of the state OR in the abandonment of one or more plants or facilities of the company located within the state? Please explain if you answer “Yes” by attaching a response. ☐Yes ☐No I) Please attach a description of any compelling circumstances the Agency should be aware of while reviewing this application. J) Local Approvals (Site Plan and Environmental Review) 1. Have site plans been submitted to the appropriate town or local planning department? ☐Yes. What is the status? ☐No. When will the plans be submitted? _______________________________________________________ Approved, ready for construction Onondaga County Industrial Development Agency Page 5 2. Has the project received site plan approval from the town or local planning board? ☐Yes ☐No 3. If no, what is the anticipated approval date? ________________________________ 4. If yes, provide the Agency with a copy of the Planning Board’s approval resolution along with the related SEQR determination. (NOTE: SEQR determination is required for final approval and sales tax agency appointment.) 5. Environmental Information a. Please attach the appropriate Environmental Impact Forms to your application. Here is a link to the SEQR forms: http://www.dec.ny.gov/permits/6191.html b. Have any environmental issues been identified on the property? ☐Yes ☐No If yes, please attach an explanation. Onondaga County Industrial Development Agency Page 6 Section III: Construction A) Project Costs and Finances 2. Has the project received site plan approval from the town or local planning board? ☐Yes ☐No 3. If no, what is the anticipated approval date? ________________________________ 4. If yes, provide the Agency with a copy of the Planning Board’s approval resolution along with the related SEQR determination. (NOTE: SEQR determination is required for final approval and sales tax agency appointment.) 5. Environmental Information a. Please attach the appropriate Environmental Impact Forms to your application. Here is a link to the SEQR forms: http://www.dec.ny.gov/permits/6191.html b. Have any environmental issues been identified on the property? ☐Yes ☐No If yes, please attach an explanation. Onondaga County Industrial Development Agency Page 6 Section III: Construction A) Project Costs and Finances Description of Costs Total % of Total Total Private Expenditure Budget Budget to be (should be less than or Amount Procured in equal to total budget Onondaga amount) County Land Acquisition 4,200,000 100 Site Work/Demo 6,900,000 100 Building Construction 38,000,000 100 & Renovation Furniture & Fixtures 4,100,000 Equipment* Engineering/Architect 1,100,000 100 sFinancial Charges 2,000,000 100 Legal 100,000 100 Other Management/Developer Fees 600,000 100 Total Project Cost 57,000,000 Note: Do not include OCIDA fees, OCIDA application fees or OCIDA legal fees as part of the Total Project Cost. You may attach a separate chart if needed. B) TOTAL Capital Costs $ 57,000,000 Project refinancing: estimated amount (For refinancing of existing debt only) $ Description of Costs Total % of Total Total Private Expenditure Budget Budget to be (should be less than or Amount Procured in equal to total budget Onondaga amount) County Land Acquisition 4,200,000 100 Site Work/Demo 6,900,000 100 Building Construction 38,000,000 100 & Renovation Furniture & Fixtures 4,100,000 Equipment* Engineering/Architect 1,100,000 100 sFinancial Charges 2,000,000 100 Legal 100,000 100 Other Management/Developer Fees 600,000 100 Total Project Cost 57,000,000 Note: Do not include OCIDA fees, OCIDA application fees or OCIDA legal fees as part of the Total Project Cost. You may attach a separate chart if needed. B) TOTAL Capital Costs $ 57,000,000 Project refinancing: estimated amount (For refinancing of existing debt only) $ Sources of Funds for Project Costs: 1. Bank Financing $ _______________ 43,000,000 2. Equity (excluding equity that is attributed to grants/tax credits) $ 14,000,000 3. Tax Exempt Bond Issuance (if applicable) $ _______________ 4. Taxable Bond Issuance (if applicable) $ Onondaga County Industrial Development Agency Page 7 5. Public Sources (Include sum total of all state and federal grants and tax credits) $ -Identify each state and federal grant/credit: $ $ $ 6. Total Sources of Funds for Project Costs $ _______________ 57,000,000 Sources of Funds for Project Costs: 1. Bank Financing $ _______________ 43,000,000 2. Equity (excluding equity that is attributed to grants/tax credits) $ 14,000,000 3. Tax Exempt Bond Issuance (if applicable) $ _______________ 4. Taxable Bond Issuance (if applicable) $ Onondaga County Industrial Development Agency Page 7 5. Public Sources (Include sum total of all state and federal grants and tax credits) $ -Identify each state and federal grant/credit: $ $ $ 6. Total Sources of Funds for Project Costs $ _______________ 57,000,000 C) Employment and Payroll Information *Full Time Equivalent (FTE) is defined as one employee working no less than 40 hours per week or two or more employees together working a total of 40 hours per week. 1. Are there people currently employed at the project site? ☐Yes ☐No If yes, provide number of FTE jobs at the facility: 2. Complete the following: C) Employment and Payroll Information *Full Time Equivalent (FTE) is defined as one employee working no less than 40 hours per week or two or more employees together working a total of 40 hours per week. 1. Are there people currently employed at the project site? ☐Yes ☐No If yes, provide number of FTE jobs at the facility: 2. Complete the following: Estimate the number of FTE jobs to be retained as a result of this Project: 0 Estimate the number of construction jobs to be created by this Project: 300 Estimate the average length of construction jobs to be created (months): 24 Current annual payroll at facility: NA Please list, if any, benefits that will be available to either full and/or part time Medical & Dental Insurance, 401K employees: Average annual benefit paid by the company ($ or % salary) per FTE job: 30%+/- Amount or percent of wage employees pay for benefits: 3-5% Provide an estimate of the number of residents in the Economic Development Region (Onondaga, Madison, Cayuga, Approx. 70% Oneida, Oswego, and Cortland Counties) to fill new FTE jobs: Onondaga County Industrial Development Agency Page 8 Estimate the number of FTE jobs to be retained as a result of this Project: 0 Estimate the number of construction jobs to be created by this Project: 300 Estimate the average length of construction jobs to be created (months): 24 Current annual payroll at facility: NA Please list, if any, benefits that will be available to either full and/or part time Medical & Dental Insurance, 401K employees: Average annual benefit paid by the company ($ or % salary) per FTE job: 30%+/- Amount or percent of wage employees pay for benefits: 3-5% Provide an estimate of the number of residents in the Economic Development Region (Onondaga, Madison, Cayuga, Approx. 70% Oneida, Oswego, and Cortland Counties) to fill new FTE jobs: Onondaga County Industrial Development Agency Page 8 D) New Employment Benefits i. Complete the following chart indicating the number of FTE jobs presently employed at the Project and the number of FTE jobs that will be created at the Project site at the end of the first, second, and third, years after the Project is completed. Jobs should be listed by title of category (see below), including FTE independent contractors or employees of independent contractors that work at the Project location. Do not include construction workers. ii. Feel free to include additional information or a substitute chart if you think additional material would add clarity. Please use this chart to illustrate the current employment: Job Title/Category Current Annual Pay Current Employment (FTE) Please use this chart to illustrate the projected employment growth: D) New Employment Benefits i. Complete the following chart indicating the number of FTE jobs presently employed at the Project and the number of FTE jobs that will be created at the Project site at the end of the first, second, and third, years after the Project is completed. Jobs should be listed by title of category (see below), including FTE independent contractors or employees of independent contractors that work at the Project location. Do not include construction workers. ii. Feel free to include additional information or a substitute chart if you think additional material would add clarity. Please use this chart to illustrate the current employment: Job Title/Category Current Annual Pay Current Employment (FTE) Please use this chart to illustrate the projected employment growth: Job Title/Category Current Annual Pay Jobs Created Jobs Created Jobs Created Year 1 Year 2 Year 3 Manager $60,000 1 0 0 Assistant Manager $42,000 1 0 0 Maintenance Manager $50,000 1 0 0 Assistant Maintenance $35,000 0 1 0 If you prefer, you may attach a job chart of your own that outlines the job growth projections regarding the Project. E) Financial Assistance sought (estimated values): ☐ Real Property Tax Abatement (PILOT): Standard 10-yr PILOT Agreement Consistent with UTEP ☐ Mortgage Recording Tax Exemption (.75% of amount mortgaged): $322,500 ☐ Sales and Use Tax Exemption (4% Local, 4% State): $2,736,000 ☐ Tax Exempt Bond Financing (Amount Requested): ☐ Taxable Bond Financing (Amount Requested): Onondaga County Industrial Development Agency Page 9 F) Mortgage Recording Tax Exemption Benefit Calculator: Amount of mortgage that would be subject to mortgage recording tax: Job Title/Category Current Annual Pay Jobs Created Jobs Created Jobs Created Year 1 Year 2 Year 3 Manager $60,000 1 0 0 Assistant Manager $42,000 1 0 0 Maintenance Manager $50,000 1 0 0 Assistant Maintenance $35,000 0 1 0 If you prefer, you may attach a job chart of your own that outlines the job growth projections regarding the Project. E) Financial Assistance sought (estimated values): ☐ Real Property Tax Abatement (PILOT): Standard 10-yr PILOT Agreement Consistent with UTEP ☐ Mortgage Recording Tax Exemption (.75% of amount mortgaged): $322,500 ☐ Sales and Use Tax Exemption (4% Local, 4% State): $2,736,000 ☐ Tax Exempt Bond Financing (Amount Requested): ☐ Taxable Bond Financing (Amount Requested): Onondaga County Industrial Development Agency Page 9 F) Mortgage Recording Tax Exemption Benefit Calculator: Amount of mortgage that would be subject to mortgage recording tax: Mortgage Amount (include sum total of construction/permanent/ bridge financing): $ 43,000,000 Estimated Mortgage Recording Tax Exemption Benefit (product of mortgage amount as indicated above, multiplied by .0075): $ 322,500 G) Sales and Use Tax Benefit Calculator: Gross amount of costs for goods and services that are subject to State and local Sales and Use Tax – said amount to benefit from the Agency’s Sales and Use Tax exemption benefit: $ 34,200,000 Estimated State and local Sales and Use Tax Benefit (product of 8% multiplied by the figure, above) (This should match the amount in section “E” on page 9, this calculation only exists to help you with your estimate): $ 2,736,000 Onondaga County Industrial Development Agency Page 10 Section IV: Estimate of Real Property Tax Abatement Benefits Section IV of this Application will be: (i) completed by IDA Staff based upon information contained within the Application, and (ii) provided to the Applicant for ultimate inclusion as part of this completed Application prior to the completed application being provided to the OCIDA Board. A) PILOTS Estimate Table Worksheet Mortgage Amount (include sum total of construction/permanent/ bridge financing): $ 43,000,000 Estimated Mortgage Recording Tax Exemption Benefit (product of mortgage amount as indicated above, multiplied by .0075): $ 322,500 G) Sales and Use Tax Benefit Calculator: Gross amount of costs for goods and services that are subject to State and local Sales and Use Tax – said amount to benefit from the Agency’s Sales and Use Tax exemption benefit: $ 34,200,000 Estimated State and local Sales and Use Tax Benefit (product of 8% multiplied by the figure, above) (This should match the amount in section “E” on page 9, this calculation only exists to help you with your estimate): $ 2,736,000 Onondaga County Industrial Development Agency Page 10 Section IV: Estimate of Real Property Tax Abatement Benefits Section IV of this Application will be: (i) completed by IDA Staff based upon information contained within the Application, and (ii) provided to the Applicant for ultimate inclusion as part of this completed Application prior to the completed application being provided to the OCIDA Board. A) PILOTS Estimate Table Worksheet OCIDA estimate of current value New construction and renovation costs OCIDA estimate of increase in value OCIDA estimated value of completed project OCIDA estimate of taxes that would have been collected if the project did not occur Scheduled PILOT payments PILOT Exemption County Local School Total Full Tax Net Exemption Year % PILOT PILOT PILOT PILOT Payment Amount Amount Amount w/o PILOT 1 100 2 90 3 80 4 70 5 60 6 50 7 40 8 30 9 20 10 10 TOTAL Estimates provided are based on current property tax rates and assessment value (current as of date of application submission) and have been calculated by IDA staff. Onondaga County Industrial Development Agency Page 11 OCIDA estimate of current value New construction and renovation costs OCIDA estimate of increase in value OCIDA estimated value of completed project OCIDA estimate of taxes that would have been collected if the project did not occur Scheduled PILOT payments PILOT Exemption County Local School Total Full Tax Net Exemption Year % PILOT PILOT PILOT PILOT Payment Amount Amount Amount w/o PILOT 1 100 2 90 3 80 4 70 5 60 6 50 7 40 8 30 9 20 10 10 TOTAL Estimates provided are based on current property tax rates and assessment value (current as of date of application submission) and have been calculated by IDA staff. Onondaga County Industrial Development Agency Page 11 SECTION: V ForProjects For Retail Retail Projects Only Only Tax 1. Will the cost of the retail portion of the Project exceed one-third of the total project cost? ☐Yes ☐No 2. Is the Project located in a distressed area? A distressed area is a census tract that has a) a poverty rate of a least 20% or at least 20% of households receiving public assistance, and (b) an unemployment rate of least 1.25 times the statewide unemployment rate for the year to which the date relates. ☐Yes ☐No 3. Is the Project likely to attract a significant number of visitors from outside of the economic development region? ☐Yes ☐No 4. Is the predominate purpose of the Project to make available goods or services which would not, but for the Project, be reasonably accessible to the residents of the Town, City, County or Village of where the Project will be located. ☐Yes ☐No Onondaga County Industrial Development Agency Page 12 SECTION: V ForProjects For Retail Retail Projects Only Only Tax 1. Will the cost of the retail portion of the Project exceed one-third of the total project cost? ☐Yes ☐No 2. Is the Project located in a distressed area? A distressed area is a census tract that has a) a poverty rate of a least 20% or at least 20% of households receiving public assistance, and (b) an unemployment rate of least 1.25 times the statewide unemployment rate for the year to which the date relates. ☐Yes ☐No 3. Is the Project likely to attract a significant number of visitors from outside of the economic development region? ☐Yes ☐No 4. Is the predominate purpose of the Project to make available goods or services which would not, but for the Project, be reasonably accessible to the residents of the Town, City, County or Village of where the Project will be located. ☐Yes ☐No Onondaga County Industrial Development Agency Page 12 SECTION VI: For Solar Projects Only Please complete the following as an addendum: P X, an 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the Project would be affected if these benefits were not provided. [see Section II (C)] 2. Is the applicant leasing the property? ☐ Yes, please provide a copy of the lease ☐ No, purchased the property. Please provide documentation. 3. Has the applicant provided written communication to the affected taxing jurisdictions notifying them of its intent to construct a renewable energy project? ☐ Yes ☐ No 4. Has the applicant received a letter of support for the megawatt cost to be used as a basis for the PILOT from the town, city or village where the Project is located? ☐ Yes. Please provide copy. ☐ No 5. Has the applicant received a letter of support for the megawatt cost to be used as a basis for PILOT from the school district? ☐ Yes. Please provide copy. ☐ No 6. Is the entire parcel being used for the solar project? ☐ Yes ☐ No, if not, have you reached out to the town assessor to discuss a subdivision or slash parcel? Explain: ___________________________________________ 7. Will the applicant enter into a decommissioning plan with the host community, including financial assurance the plan can be executed? ☐ Yes, explain. ☐ No SECTION VI: For Solar Projects Only Please complete the following as an addendum: P X, an 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the Project would be affected if these benefits were not provided. [see Section II (C)] 2. Is the applicant leasing the property? ☐ Yes, please provide a copy of the lease ☐ No, purchased the property. Please provide documentation. 3. Has the applicant provided written communication to the affected taxing jurisdictions notifying them of its intent to construct a renewable energy project? ☐ Yes ☐ No 4. Has the applicant received a letter of support for the megawatt cost to be used as a basis for the PILOT from the town, city or village where the Project is located? ☐ Yes. Please provide copy. ☐ No 5. Has the applicant received a letter of support for the megawatt cost to be used as a basis for PILOT from the school district? ☐ Yes. Please provide copy. ☐ No 6. Is the entire parcel being used for the solar project? ☐ Yes ☐ No, if not, have you reached out to the town assessor to discuss a subdivision or slash parcel? Explain: ___________________________________________ 7. Will the applicant enter into a decommissioning plan with the host community, including financial assurance the plan can be executed? ☐ Yes, explain. ☐ No *PLEASE SEE FOLLOWING PAGE FOR OCIDA SOLAR GUIDANCE & BEST PRACTICE Onondaga County Industrial Development Agency Page 13 OCIDA Solar PILOTs Guidance and Best Practice OCIDA SOLAR PILOTs GUIDANCE AND BEST PRACTICE To be placed on the OCIDA meeting agenda, proposed solar projects must provide OCIDA with the following in advance of the Project’s first OCIDA meeting: *PLEASE SEE FOLLOWING PAGE FOR OCIDA SOLAR GUIDANCE & BEST PRACTICE Onondaga County Industrial Development Agency Page 13 OCIDA Solar PILOTs Guidance and Best Practice OCIDA SOLAR PILOTs GUIDANCE AND BEST PRACTICE To be placed on the OCIDA meeting agenda, proposed solar projects must provide OCIDA with the following in advance of the Project’s first OCIDA meeting: 1. Fully completed OCIDA application. 2. Copy of Environmental Assessment Form. 3. A SEQR resolution approved by a local municipality indicating municipality will be lead agency, the type of action (I, II, or unlisted) and, if completed, the SEQR determination made by the municipality. 4. Copies of your zoning applications submitted to the local municipality. 5. Verification of parcel subdivision process with the town (if the entire parcel will not be used for the solar project). 6. A statement clarifying whether the applicant will lease or purchase the real property on which the Project is situated. If leased, provide a copy of the proposed or executed lease. If lease parcel is less then entire parcel then see 5 above. 7. A supporting document from the School District and the Town Board outlining the agreed upon cost per megawatt to be used as a basis for the PILOT. OCIDA cannot create the PILOT schedule without this information. 8. Absent a showing otherwise by the Company, deemed acceptable by the Agency in the sole and absolute discretion, the Company must close with the Agency on a project prior to consideration of any requested organizational structure or project entity ownership changes. 1. Fully completed OCIDA application. 2. Copy of Environmental Assessment Form. 3. A SEQR resolution approved by a local municipality indicating municipality will be lead agency, the type of action (I, II, or unlisted) and, if completed, the SEQR determination made by the municipality. 4. Copies of your zoning applications submitted to the local municipality. 5. Verification of parcel subdivision process with the town (if the entire parcel will not be used for the solar project). 6. A statement clarifying whether the applicant will lease or purchase the real property on which the Project is situated. If leased, provide a copy of the proposed or executed lease. If lease parcel is less then entire parcel then see 5 above. 7. A supporting document from the School District and the Town Board outlining the agreed upon cost per megawatt to be used as a basis for the PILOT. OCIDA cannot create the PILOT schedule without this information. 8. Absent a showing otherwise by the Company, deemed acceptable by the Agency in the sole and absolute discretion, the Company must close with the Agency on a project prior to consideration of any requested organizational structure or project entity ownership changes. You will receive a draft Cost Benefit Analysis and a Draft PILOT schedule from this office. You may use these documents as your Project progresses through the OCIDA approval process. OCIDA staff are available to update these two documents as needed. Onondaga County Industrial Development Agency Page 14 You will receive a draft Cost Benefit Analysis and a Draft PILOT schedule from this office. You may use these documents as your Project progresses through the OCIDA approval process. OCIDA staff are available to update these two documents as needed. Onondaga County Industrial Development Agency Page 14 SECTION VII: For Housing Projects Only Please complete the following as an addendum: 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the project would be impacted if these benefits were not provided. [see Section II (C)] 2. Is the Project being built in a blighted area? Please describe. 3. Is the Project fulfilling an unmet need in the area? Please explain. 4. Please provide a market study documenting a need for such housing. 5. Is there support from local government officials for the Project and for the financial assistance being requested from the Agency? Please provide written documentation. 6. Is the Project considered infill in a populated area? Please explain. 7. Does the Project provide walkability? 8. Is there additional county infrastructure necessary to service the Project? If, yes, please explain. 9. Is the Project part of a larger mixed-use development? Please describe. Onondaga County Industrial Development Agency Page 15 Section VIII: Local Access Policy Agreement SECTION VII: For Housing Projects Only Please complete the following as an addendum: 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the project would be impacted if these benefits were not provided. [see Section II (C)] 2. Is the Project being built in a blighted area? Please describe. 3. Is the Project fulfilling an unmet need in the area? Please explain. 4. Please provide a market study documenting a need for such housing. 5. Is there support from local government officials for the Project and for the financial assistance being requested from the Agency? Please provide written documentation. 6. Is the Project considered infill in a populated area? Please explain. 7. Does the Project provide walkability? 8. Is there additional county infrastructure necessary to service the Project? If, yes, please explain. 9. Is the Project part of a larger mixed-use development? Please describe. Onondaga County Industrial Development Agency Page 15 Section VIII: Local Access Policy Agreement In absence of a waiver permitting otherwise, every project seeking the assistance of the Onondaga County Industrial Development Agency (Agency) must use local general contractors, sub- contractors, and labor for one-hundred percent (100%) of the construction of new, expanded, or renovated facilities. The project’s construction or project manager need not be a local company. Noncompliance may result in the revocation and/or recapture of all benefits extended to the project by the Agency. Local Labor is defined as laborers permanently residing in the State of New York counties of Cayuga, Cortland, Herkimer, Jefferson, Madison, Oneida, Onondaga, Oswego, Tompkins, and Wayne. Local (General/Sub) Contractor is defined as a contractor operating a permanent office in the State of New York counties of Cayuga, Cortland, Herkimer, Jefferson, Madison, Oneida, Onondaga, Oswego, Tompkins and Wayne. The Agency may determine on a case-by-case basis to waive the Local Access Policy for a project or for a portion of a project where consideration of warranty issues, necessity of specialized skills, significant cost differentials between local and non-local services or other compelling circumstances exist. The procedure to address a local labor waiver can be found in the OCIDA handbook, which is available upon request. Prior to issuance of any NYS Tax & Finance ST-60 forms, the Applicant must submit a Contractor Status Report to the Agency. In absence of a waiver permitting otherwise, every project seeking the assistance of the Onondaga County Industrial Development Agency (Agency) must use local general contractors, sub- contractors, and labor for one-hundred percent (100%) of the construction of new, expanded, or renovated facilities. The project’s construction or project manager need not be a local company. Noncompliance may result in the revocation and/or recapture of all benefits extended to the project by the Agency. Local Labor is defined as laborers permanently residing in the State of New York counties of Cayuga, Cortland, Herkimer, Jefferson, Madison, Oneida, Onondaga, Oswego, Tompkins, and Wayne. Local (General/Sub) Contractor is defined as a contractor operating a permanent office in the State of New York counties of Cayuga, Cortland, Herkimer, Jefferson, Madison, Oneida, Onondaga, Oswego, Tompkins and Wayne. The Agency may determine on a case-by-case basis to waive the Local Access Policy for a project or for a portion of a project where consideration of warranty issues, necessity of specialized skills, significant cost differentials between local and non-local services or other compelling circumstances exist. The procedure to address a local labor waiver can be found in the OCIDA handbook, which is available upon request. Prior to issuance of any NYS Tax & Finance ST-60 forms, the Applicant must submit a Contractor Status Report to the Agency. In consideration of the extension of financial assistance by the Agency (the Company) understands the Local Access Policy and agrees to complete Appendix C of the Agency’s application at the time of the application to the Agency and as part of a request to extend the valid date of the Agency’s tax-exempt certificate for the Project. The Company understands that an Agency tax-exempt certificate is typically valid for 12 months from the effective date of the project inducement and extended thereafter upon request by the Company. The Company further understands that any request for a waiver to this policy must be submitted in writing and approved by the Agency. I agree to the conditions of this agreement and certify all information provided regarding the construction and employment activities for the project as of (date). Company: Tocco Villaggio III, LLC Representative for Contract: Joseph Alberici __ Address: 8351 Pareti Place City: Clay State: NY Zip: 13041 Phone: 315-652-4664 Email: jalberic@verizon.net Project Address: City: State: Zip: In consideration of the extension of financial assistance by the Agency (the Company) understands the Local Access Policy and agrees to complete Appendix C of the Agency’s application at the time of the application to the Agency and as part of a request to extend the valid date of the Agency’s tax-exempt certificate for the Project. The Company understands that an Agency tax-exempt certificate is typically valid for 12 months from the effective date of the project inducement and extended thereafter upon request by the Company. The Company further understands that any request for a waiver to this policy must be submitted in writing and approved by the Agency. I agree to the conditions of this agreement and certify all information provided regarding the construction and employment activities for the project as of (date). Company: Tocco Villaggio III, LLC Representative for Contract: Joseph Alberici __ Address: 8351 Pareti Place City: Clay State: NY Zip: 13041 Phone: 315-652-4664 Email: jalberic@verizon.net Project Address: City: State: Zip: General Contractor: J. Alberici & Sons, Inc Contact Person: Joseph Alberici Address: 3536 Timber Banks Parkway City: Baldwinsville State: NY Zip: 13027 Phone: 315-546-0027 Email: jalberic@verizon.net Authorized Representative: Joseph Alberici Title: Secretary Signature: Onondaga County Industrial Development Agency Page 16 Section IX: Agency Fee Schedule * Minimum Fee to be applied to all project receiving OCIDA benefits is 1% of the Total Project Cost (TPC) ACTIVITY FEES COMMENTS N Non- refundable Application Fee (All projects $1,000 Due at time of except Solar Projects) application Non-refundable Application Fee (Solar $10,000 Projects Only) L Legal Deposit (All projects except Solar $2,500 Due at time of Projects) application S Legal Deposit (Solar Projects Only) $5,000 Minimum Fee of 1% of TPC 1. Sales and Use Tax Exemption .01 X TPC Due at closing General Contractor: J. Alberici & Sons, Inc Contact Person: Joseph Alberici Address: 3536 Timber Banks Parkway City: Baldwinsville State: NY Zip: 13027 Phone: 315-546-0027 Email: jalberic@verizon.net Authorized Representative: Joseph Alberici Title: Secretary Signature: Onondaga County Industrial Development Agency Page 16 Section IX: Agency Fee Schedule * Minimum Fee to be applied to all project receiving OCIDA benefits is 1% of the Total Project Cost (TPC) ACTIVITY FEES COMMENTS N Non- refundable Application Fee (All projects $1,000 Due at time of except Solar Projects) application Non-refundable Application Fee (Solar $10,000 Projects Only) L Legal Deposit (All projects except Solar $2,500 Due at time of Projects) application S Legal Deposit (Solar Projects Only) $5,000 Minimum Fee of 1% of TPC 1. Sales and Use Tax Exemption .01 X TPC Due at closing 2. Mortgage Recording Tax 3. PILOT is an additional fee .0025 X TPC (total .0125) Bonds Due at closing B Bond refinancing and refunding .0025 of TPC A Agency Legal Fees .0. Fe Fee for first $20 million .0025 X of the project cost or bond Due at closing amount Fe Fee for expenses above $20 million .. .0 .00125 X of project cost or bond amount . Amendment or Modification of IDA U Up to but not to exceed 5% of Agency Due at time of documents, including but not limited to name Fee as noted on the Cost Benefit Request or organization change, refinancing, etc. Analysis at time of project approval. Consent to the amendment or modification ofLe Attorney fees determined by OCIDA IDA documents prior to closing on the project Legal Representative. shall be given at OCIDA’s sole and absolute discretion. OCIDA reserves the right to modify this schedule at any time and assess fees and charges in connection with other transactions such as grants of easement or lease or sale of OCIDA-owned property. 2. Mortgage Recording Tax 3. PILOT is an additional fee .0025 X TPC (total .0125) Bonds Due at closing B Bond refinancing and refunding .0025 of TPC A Agency Legal Fees .0. Fe Fee for first $20 million .0025 X of the project cost or bond Due at closing amount Fe Fee for expenses above $20 million .. .0 .00125 X of project cost or bond amount . Amendment or Modification of IDA U Up to but not to exceed 5% of Agency Due at time of documents, including but not limited to name Fee as noted on the Cost Benefit Request or organization change, refinancing, etc. Analysis at time of project approval. Consent to the amendment or modification ofLe Attorney fees determined by OCIDA IDA documents prior to closing on the project Legal Representative. shall be given at OCIDA’s sole and absolute discretion. OCIDA reserves the right to modify this schedule at any time and assess fees and charges in connection with other transactions such as grants of easement or lease or sale of OCIDA-owned property. Onondaga County Industrial Development Agency Page 17 Section X: Recapture of Tax Abatement/Exemptions Information to be Provided by Companies: Each Company agrees that to receive benefits from the Agency it must, whenever requested by the Agency or required under applicable statutes or project documents, provide and certify or cause to be provided and certified such information concerning the Company, its finances, its employees and other topics which shall, from time to time, be necessary or appropriate, including but not limited to, such information as to enable the Agency to make any reports required by law or governmental regulation. Please refer to the OCIDA Uniform Tax Exemption Policy. (add hyperlink) I have read the foregoing and agree to comply with all the terms and conditions contained therein as well as policies of the Onondaga County Industrial Agency. Name of Applicant Company _________________________________ Tocco Villaggio III, LLC Signature of Officer or Authorized Representative: _________________________________ Name & Title of Officer or Authorized Representative: _________________________________ Joseph Alberici, Member Date: ______________ Onondaga County Industrial Development Agency Page 17 Section X: Recapture of Tax Abatement/Exemptions Information to be Provided by Companies: Each Company agrees that to receive benefits from the Agency it must, whenever requested by the Agency or required under applicable statutes or project documents, provide and certify or cause to be provided and certified such information concerning the Company, its finances, its employees and other topics which shall, from time to time, be necessary or appropriate, including but not limited to, such information as to enable the Agency to make any reports required by law or governmental regulation. Please refer to the OCIDA Uniform Tax Exemption Policy. (add hyperlink) I have read the foregoing and agree to comply with all the terms and conditions contained therein as well as policies of the Onondaga County Industrial Agency. Name of Applicant Company _________________________________ Tocco Villaggio III, LLC Signature of Officer or Authorized Representative: _________________________________ Name & Title of Officer or Authorized Representative: _________________________________ Joseph Alberici, Member Date: ______________ Onondaga County Industrial Development Agency Page 18 Section XI: Conflict of Interest Agency Board Members 1. Patrick Hogan, Chairperson 2. Janice Herzog, Vice Chairperson 3. Steve Morgan, Director 4. Victor Ianno, Director 5. Sue Stanczyk, Director 6. Kevin Ryan, Director 7. Fanny Villarreal, Director Agency Officers/Staff 1. Robert M. Petrovich, Executive Director 2. Nathaniel Stevens, Treasurer 3. Nancy Lowery, Secretary 4. Karen Doster, Recording Secretary 5. Christopher Cox, Assistant Treasurer Agency Legal Counsel & Auditor 1. Jeffrey Davis, Esq., Barclay Damon LLP 2. Amanda Fitzgerald, Esq., Barclay Damon LLP 3. Michael G. Lisson, CPA, Grossman St. Amour Certified Public Accountants PLLC The Applicant has received from the Agency a list of members, officers and staff of the Agency. To the best of my knowledge, no member, officer or employee of the Agency has an interest, whether direct or indirect, in any transaction contemplated by this Application, except as hereinafter described: Name of Applicant Company _________________________________ Tocco Villaggio III, LLC Signature of Officer or Authorized Representative: _________________________________ Onondaga County Industrial Development Agency Page 18 Section XI: Conflict of Interest Agency Board Members 1. Patrick Hogan, Chairperson 2. Janice Herzog, Vice Chairperson 3. Steve Morgan, Director 4. Victor Ianno, Director 5. Sue Stanczyk, Director 6. Kevin Ryan, Director 7. Fanny Villarreal, Director Agency Officers/Staff 1. Robert M. Petrovich, Executive Director 2. Nathaniel Stevens, Treasurer 3. Nancy Lowery, Secretary 4. Karen Doster, Recording Secretary 5. Christopher Cox, Assistant Treasurer Agency Legal Counsel & Auditor 1. Jeffrey Davis, Esq., Barclay Damon LLP 2. Amanda Fitzgerald, Esq., Barclay Damon LLP 3. Michael G. Lisson, CPA, Grossman St. Amour Certified Public Accountants PLLC The Applicant has received from the Agency a list of members, officers and staff of the Agency. To the best of my knowledge, no member, officer or employee of the Agency has an interest, whether direct or indirect, in any transaction contemplated by this Application, except as hereinafter described: Name of Applicant Company _________________________________ Tocco Villaggio III, LLC Signature of Officer or Authorized Representative: _________________________________ Name & Title of Officer or Authorized Representative: _________________________________ Joseph Alberici, Member Date: ______________ Onondaga County Industrial Development Agency Page 19 Section XII: Representations, Certifications, and Indemnification Joseph Alberici (Name of CEO or other authorized representative of Applicant) confirms and says that he/she is the ____________________ Member (title) of ____________________ Tocco Villaggio III, LLC (name of corporation or other entity) named in the attached Application (the “Applicant”), that he/she has read the foregoing Application and knows the contents thereof, and hereby represents, understands, and otherwise agrees with the Agency and as follows: Name & Title of Officer or Authorized Representative: _________________________________ Joseph Alberici, Member Date: ______________ Onondaga County Industrial Development Agency Page 19 Section XII: Representations, Certifications, and Indemnification Joseph Alberici (Name of CEO or other authorized representative of Applicant) confirms and says that he/she is the ____________________ Member (title) of ____________________ Tocco Villaggio III, LLC (name of corporation or other entity) named in the attached Application (the “Applicant”), that he/she has read the foregoing Application and knows the contents thereof, and hereby represents, understands, and otherwise agrees with the Agency and as follows: A. First Consideration for Employment: In accordance with §858-b (2) of the New York General Municipal Law, the Applicant understands and agrees that if the Project receives any Financial Assistance from the Agency, except as otherwise provided by collective bargaining agreements, where practicable, the Applicant will first consider persons eligible to participate in WIA programs who shall be referred by the CNY Works for new employment opportunities created as a result of the Project. B. Other NYS Facilities: In accordance with §862 (1) of the New York General Municipal Law, the Applicant understands and agrees that projects which will result in the removal of an industrial or manufacturing plant of the project occupant from one area of the state to another area of the state or in the abandonment of one or more plants or facilities of the project occupant within the state is ineligible for Agency Financial Assistance, unless otherwise approved by the Agency as reasonably necessary to preserve the competitive position of the project in its respective industry or is reasonably necessary. A. First Consideration for Employment: In accordance with §858-b (2) of the New York General Municipal Law, the Applicant understands and agrees that if the Project receives any Financial Assistance from the Agency, except as otherwise provided by collective bargaining agreements, where practicable, the Applicant will first consider persons eligible to participate in WIA programs who shall be referred by the CNY Works for new employment opportunities created as a result of the Project. B. Other NYS Facilities: In accordance with §862 (1) of the New York General Municipal Law, the Applicant understands and agrees that projects which will result in the removal of an industrial or manufacturing plant of the project occupant from one area of the state to another area of the state or in the abandonment of one or more plants or facilities of the project occupant within the state is ineligible for Agency Financial Assistance, unless otherwise approved by the Agency as reasonably necessary to preserve the competitive position of the project in its respective industry or is reasonably necessary. C. Annual Sales Tax Filings: In accordance with §874(8) of the New York General Municipal Law, the Applicant understands and agrees that if the Project receives any sales tax exemptions as part of the Financial Assistance from the Agency, the Applicant agrees to file, or cause to be filed, with the New York State Department of Taxation and Finance, the annual form prescribed by the Department of Taxation and Finance, describing the value of all sales tax exemptions claimed by the Applicant and all consultants or subcontractors retained by the Applicant. D. Outstanding Bonds: The Applicant understands and agrees to provide on an annual basis any information regarding bonds, if any, issued by the Agency for the project that is requested by the Comptroller of the State of New York. C. Annual Sales Tax Filings: In accordance with §874(8) of the New York General Municipal Law, the Applicant understands and agrees that if the Project receives any sales tax exemptions as part of the Financial Assistance from the Agency, the Applicant agrees to file, or cause to be filed, with the New York State Department of Taxation and Finance, the annual form prescribed by the Department of Taxation and Finance, describing the value of all sales tax exemptions claimed by the Applicant and all consultants or subcontractors retained by the Applicant. D. Outstanding Bonds: The Applicant understands and agrees to provide on an annual basis any information regarding bonds, if any, issued by the Agency for the project that is requested by the Comptroller of the State of New York. E. Employment Reports: The Applicant understands and agrees that, if the Project receives any financial assistance from the Agency, the Applicant agrees to file with the Agency, at least annually or as otherwise required by the Agency, reports regarding the number of people employed at the project site, salary levels, contractor utilization and such other information (collectively, “Employment Reports”) that may be required from time to time on such appropriate forms as designated by the Agency. Failure to provide Employment Reports within 30 days of an Agency request shall be an Event of Default under the PILOT Agreement between the Agency and Applicant and, if applicable, an Event of Default under the Agent Agreement between the Agency and Applicant. In addition, a Notice of Failure to provide the Agency with an Employment Report may be reported to Agency board members, with said report being an agenda item subject to the open meetings law. Onondaga County Industrial Development Agency Page 20 E. Employment Reports: The Applicant understands and agrees that, if the Project receives any financial assistance from the Agency, the Applicant agrees to file with the Agency, at least annually or as otherwise required by the Agency, reports regarding the number of people employed at the project site, salary levels, contractor utilization and such other information (collectively, “Employment Reports”) that may be required from time to time on such appropriate forms as designated by the Agency. Failure to provide Employment Reports within 30 days of an Agency request shall be an Event of Default under the PILOT Agreement between the Agency and Applicant and, if applicable, an Event of Default under the Agent Agreement between the Agency and Applicant. In addition, a Notice of Failure to provide the Agency with an Employment Report may be reported to Agency board members, with said report being an agenda item subject to the open meetings law. Onondaga County Industrial Development Agency Page 20 F. Prevailing Wage: The Applicant understands and agrees that, if the Project receives any financial assistance from the Agency, the Applicant shall determine whether the Project is a “covered project” pursuant to Section 224-a of Article 8 of the New York Labor Law and, if applicable, the Applicant shall comply with Section 224-a of Article 8 of the New York Labor Law; and the Applicant further covenants that the Applicant shall provide such evidence of the foregoing as requested by the Agency. G. Absence of Conflicts of Interest: The Applicant has received from the Agency a list of the members, officers and employees of the Agency. No member, officer or employee of the Agency has an interest, whether direct or indirect in any transaction contemplated by this Application, except as hereinafter described in Section X. H. Compliance: The Applicant understands and agrees that it is in substantial compliance with applicable local, state, and federal tax, worker protection, and environmental laws, rules, and regulations. I. The Applicant understands and agrees that the provisions of Section 862(1) of the New York General Municipal Law, as provided below, will not be violated if financial assistance is provided for the proposed Project: F. Prevailing Wage: The Applicant understands and agrees that, if the Project receives any financial assistance from the Agency, the Applicant shall determine whether the Project is a “covered project” pursuant to Section 224-a of Article 8 of the New York Labor Law and, if applicable, the Applicant shall comply with Section 224-a of Article 8 of the New York Labor Law; and the Applicant further covenants that the Applicant shall provide such evidence of the foregoing as requested by the Agency. G. Absence of Conflicts of Interest: The Applicant has received from the Agency a list of the members, officers and employees of the Agency. No member, officer or employee of the Agency has an interest, whether direct or indirect in any transaction contemplated by this Application, except as hereinafter described in Section X. H. Compliance: The Applicant understands and agrees that it is in substantial compliance with applicable local, state, and federal tax, worker protection, and environmental laws, rules, and regulations. I. The Applicant understands and agrees that the provisions of Section 862(1) of the New York General Municipal Law, as provided below, will not be violated if financial assistance is provided for the proposed Project: § 862. Restrictions on funds of the Agency. (1) No funds of the Agency shall be used in respect of any project if the completion thereof would result in the removal of an industrial or manufacturing plant of the project occupant from one area of the state to another area of the state or in the abandonment of one or more plants or facilities of the project occupant located within the state, provided, however, that neither restriction shall apply if the agency shall determine on the basis of the application before it that the project is reasonably necessary to discourage the project occupant from removing such other plant or facility to a location outside the state or is reasonably necessary to preserve the competitive position of the project occupant in its respective industry. J. The Applicant confirms and acknowledges that the owner, occupant or operator receiving financial assistance for the proposed Project is in substantial compliance with applicable local, state, and federal tax, worker protection and environmental laws, rules and regulations. § 862. Restrictions on funds of the Agency. (1) No funds of the Agency shall be used in respect of any project if the completion thereof would result in the removal of an industrial or manufacturing plant of the project occupant from one area of the state to another area of the state or in the abandonment of one or more plants or facilities of the project occupant located within the state, provided, however, that neither restriction shall apply if the agency shall determine on the basis of the application before it that the project is reasonably necessary to discourage the project occupant from removing such other plant or facility to a location outside the state or is reasonably necessary to preserve the competitive position of the project occupant in its respective industry. J. The Applicant confirms and acknowledges that the owner, occupant or operator receiving financial assistance for the proposed Project is in substantial compliance with applicable local, state, and federal tax, worker protection and environmental laws, rules and regulations. K. The Applicant confirms and acknowledges that the submission of any knowingly false or knowingly misleading information may lead to the immediate termination of any financial assistance and the reimbursement of an amount equal to all or part of any tax exemption claimed by reason of the Agency’s involvement in the Project. L. The Applicant confirms and hereby acknowledges that as of the date of this Application, the Applicant is in substantial compliance with all provisions of Article 18-A of the New York General Municipal Law, including, but not limited to, the provision of Section 859- a and Section 862(1) of the New York General Municipal Law. Onondaga County Industrial Development Agency Page 21 M. The Applicant and the individual executing this Application on behalf of Applicant acknowledge that the Agency and its counsel will rely on the representations and covenants made in this Application when acting hereon and hereby represents that the statements made herein do not contain any untrue statement of a material fact and do not omit to state a material fact necessary to make the statement contained herein not misleading. N. The OCIDA has the right to request and inspect supporting documentation regarding attestations made on this application. K. The Applicant confirms and acknowledges that the submission of any knowingly false or knowingly misleading information may lead to the immediate termination of any financial assistance and the reimbursement of an amount equal to all or part of any tax exemption claimed by reason of the Agency’s involvement in the Project. L. The Applicant confirms and hereby acknowledges that as of the date of this Application, the Applicant is in substantial compliance with all provisions of Article 18-A of the New York General Municipal Law, including, but not limited to, the provision of Section 859- a and Section 862(1) of the New York General Municipal Law. Onondaga County Industrial Development Agency Page 21 M. The Applicant and the individual executing this Application on behalf of Applicant acknowledge that the Agency and its counsel will rely on the representations and covenants made in this Application when acting hereon and hereby represents that the statements made herein do not contain any untrue statement of a material fact and do not omit to state a material fact necessary to make the statement contained herein not misleading. N. The OCIDA has the right to request and inspect supporting documentation regarding attestations made on this application. O. Hold Harmless Agreement: Applicant hereby releases Onondaga County Industrial Development Agency and the members, officers, servants, agents and employees thereof (the "Agency") from, agrees that the Agency shall not be liable for, and agrees to indemnify, defend and hold the Agency harmless from and against any and all liability arising from or expense incurred by: (A) the Agency's examination and processing of, and action pursuant to or upon, the attached Application, regardless of whether or not the Application or the Project described therein or the tax-exemptions and other assistance requested therein are favorably acted upon by the Agency; (B) the Agency's acquisition, construction, and/or installation of the Project described therein and (C) any further action taken by the Agency with respect to the Project, including without limiting the generality of the foregoing, all cause of action and attorney's fees and any other expenses incurred in defending any suits or action which may arise as a result of any of the foregoing. If, for any reason, the Applicant fails to conclude or consummate necessary negotiations, or fails, within a reasonable or specified period of time, to take reasonable, proper or requested action, or withdraws, abandons, cancels or neglects the Application, or if the Agency or the Applicant are unable to reach final agreement with respect to the Project, then, and in the event, upon presentation of an invoice itemizing the same, the Applicant shall pay to the Agency, its agents or assigns, all costs incurred by the Agency in the process of the Application, including attorney's fees, if any. O. Hold Harmless Agreement: Applicant hereby releases Onondaga County Industrial Development Agency and the members, officers, servants, agents and employees thereof (the "Agency") from, agrees that the Agency shall not be liable for, and agrees to indemnify, defend and hold the Agency harmless from and against any and all liability arising from or expense incurred by: (A) the Agency's examination and processing of, and action pursuant to or upon, the attached Application, regardless of whether or not the Application or the Project described therein or the tax-exemptions and other assistance requested therein are favorably acted upon by the Agency; (B) the Agency's acquisition, construction, and/or installation of the Project described therein and (C) any further action taken by the Agency with respect to the Project, including without limiting the generality of the foregoing, all cause of action and attorney's fees and any other expenses incurred in defending any suits or action which may arise as a result of any of the foregoing. If, for any reason, the Applicant fails to conclude or consummate necessary negotiations, or fails, within a reasonable or specified period of time, to take reasonable, proper or requested action, or withdraws, abandons, cancels or neglects the Application, or if the Agency or the Applicant are unable to reach final agreement with respect to the Project, then, and in the event, upon presentation of an invoice itemizing the same, the Applicant shall pay to the Agency, its agents or assigns, all costs incurred by the Agency in the process of the Application, including attorney's fees, if any. Onondaga County Industrial Development Agency Page 22 Project Narrative and Description (Section II, D): The proposed 208 apartment development of Tocco Villaggio Apartments III, owned in fee by the applicant, in the Town of Clay would be constructed in a single phase, assuming financial assistance by OCIDA. Due to current economic conditions, absent OCIDA support, the project would be built over a longer period of time in phased construction. The project is currently a vacant farm field which was rezoned to PUD by the Clay Town Board approximately 8 years ago. Financial considerations have slowed the development of the parcel during this period. The apartments would consist of 8 separate apartment buildings. The apartment buildings consist of one- and two-bedroom apartments. The apartment sizes range from 800 to 1,500 square feet. The total square footage of the proposed buildings is approximately 295,000 sf on roughly 10 acres. The 10 acres will be subdivided from the +/- 35 acres, tax parcel # 051.-01-02.1. Amenities with the community include a fitness center, pool, community room and kitchen, walking trails and sidewalks, and pet amenity areas. Project Site Plans and Architectural sketches of the building and floor plans are included as attachments to the application. Onondaga County Industrial Development Agency Page 22 Project Narrative and Description (Section II, D): The proposed 208 apartment development of Tocco Villaggio Apartments III, owned in fee by the applicant, in the Town of Clay would be constructed in a single phase, assuming financial assistance by OCIDA. Due to current economic conditions, absent OCIDA support, the project would be built over a longer period of time in phased construction. The project is currently a vacant farm field which was rezoned to PUD by the Clay Town Board approximately 8 years ago. Financial considerations have slowed the development of the parcel during this period. The apartments would consist of 8 separate apartment buildings. The apartment buildings consist of one- and two-bedroom apartments. The apartment sizes range from 800 to 1,500 square feet. The total square footage of the proposed buildings is approximately 295,000 sf on roughly 10 acres. The 10 acres will be subdivided from the +/- 35 acres, tax parcel # 051.-01-02.1. Amenities with the community include a fitness center, pool, community room and kitchen, walking trails and sidewalks, and pet amenity areas. Project Site Plans and Architectural sketches of the building and floor plans are included as attachments to the application. SECTION VII 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the project would be impacted if these benefits were not provided. [see Section II (C)] The proposed development of the Tocco Villaggio Apartments in the Town of Clay would not be constructed in a single phase due to the construction costs, increase in interest rates and the costs of construction materials currently impacting the construction industry nationally. With the assistance afforded by OCIDA the project would be capable of being constructed immediately in a single phase and allow for tenancy in under 2 years. 2. Is the Project being built in a blighted area? Please describe. The proposed project is not being built in a blighted area per Census Data. However, it is being proposed on an underutilized property near the Town of Clay and Town of Cicero business districts, which if expanded, will require nearby housing for the convenience of permanent workers in close proximity to the Project. 3. Is the Project fulfilling an unmet need in the area? Please explain. SECTION VII 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the project would be impacted if these benefits were not provided. [see Section II (C)] The proposed development of the Tocco Villaggio Apartments in the Town of Clay would not be constructed in a single phase due to the construction costs, increase in interest rates and the costs of construction materials currently impacting the construction industry nationally. With the assistance afforded by OCIDA the project would be capable of being constructed immediately in a single phase and allow for tenancy in under 2 years. 2. Is the Project being built in a blighted area? Please describe. The proposed project is not being built in a blighted area per Census Data. However, it is being proposed on an underutilized property near the Town of Clay and Town of Cicero business districts, which if expanded, will require nearby housing for the convenience of permanent workers in close proximity to the Project. 3. Is the Project fulfilling an unmet need in the area? Please explain. The proposed project will provide apartment units for the proposed development within the White Pines Industrial Park. The proposed project is less than 0.5 miles from the White Pines site, that when developed, is proposed to have 5,000 to 10,000 new employees thereby increasing the need for quality apartments. Additionally, the current opening of the Amazon facility in the Town of Clay has increased the need and demand for new apartment units. The experienced development team has other apartment projects in the Town of Clay, Town of Cicero and Town of Lysander/Village of Baldwinsville and the vacancy rate at those complexes is less than 2.5%. 4. Please provide a market study documenting a need for such housing. The development team has completed a market study and has been submitted under separate cover to the IDA. 5. Is there support from local government officials for the Project and for the financial assistance being requested from the Agency? Please provide written documentation. The Town of Clay and Town of Cicero approved the Zoning and Site Plans for the proposed development. A letter of support for financial assistance from the local municipality will be submitted under a separate cover to the IDA. 6. Is the Project considered infill in a populated area? Please explain. The proposed project will provide apartment units for the proposed development within the White Pines Industrial Park. The proposed project is less than 0.5 miles from the White Pines site, that when developed, is proposed to have 5,000 to 10,000 new employees thereby increasing the need for quality apartments. Additionally, the current opening of the Amazon facility in the Town of Clay has increased the need and demand for new apartment units. The experienced development team has other apartment projects in the Town of Clay, Town of Cicero and Town of Lysander/Village of Baldwinsville and the vacancy rate at those complexes is less than 2.5%. 4. Please provide a market study documenting a need for such housing. The development team has completed a market study and has been submitted under separate cover to the IDA. 5. Is there support from local government officials for the Project and for the financial assistance being requested from the Agency? Please provide written documentation. The Town of Clay and Town of Cicero approved the Zoning and Site Plans for the proposed development. A letter of support for financial assistance from the local municipality will be submitted under a separate cover to the IDA. 6. Is the Project considered infill in a populated area? Please explain. The proposed project is the within a residentially developed area of the Town of Clay and Town of Cicero. Adjacent to the project to the west is existing apartment and senior living facilities. To the south of the proposed development is the Lawton Valley Hunt residential development. 7. Does the Project provide walkability? As part of the project, the Town of Clay required the extension of sidewalks and walking trails within already developed portions of the Tocco Villaggio Community. 8. Is there additional county infrastructure necessary to service the Project? If, yes, please explain. No additional infrastructure is needed. Previously as part of a separate phase of the development, a traffic signal was installed along NYS Route 31 and Legionnaire Drive to service this development. Additionally, this site is served by all necessary utilities (sanitary, stormwater, gas and electric) 9. Is the Project part of a larger mixed-use development? Please describe. The proposed project would the second phase of the Tocco Villaggio Planned Unit Development. As part of the project patio homes, office space and commercial out parcels that will be developed in the future. See attached Master Plan for the overall Tocco Villaggio development. The proposed project is the within a residentially developed area of the Town of Clay and Town of Cicero. Adjacent to the project to the west is existing apartment and senior living facilities. To the south of the proposed development is the Lawton Valley Hunt residential development. 7. Does the Project provide walkability? As part of the project, the Town of Clay required the extension of sidewalks and walking trails within already developed portions of the Tocco Villaggio Community. 8. Is there additional county infrastructure necessary to service the Project? If, yes, please explain. No additional infrastructure is needed. Previously as part of a separate phase of the development, a traffic signal was installed along NYS Route 31 and Legionnaire Drive to service this development. Additionally, this site is served by all necessary utilities (sanitary, stormwater, gas and electric) 9. Is the Project part of a larger mixed-use development? Please describe. The proposed project would the second phase of the Tocco Villaggio Planned Unit Development. As part of the project patio homes, office space and commercial out parcels that will be developed in the future. See attached Master Plan for the overall Tocco Villaggio development. Name of Applicant Company: _______________________________________ Tocco Villaggio III, LLC Signature of Officer or Authorized Representative: _________________________________ Name & Title of Officer or Authorized Representative: _________________________________ Joseph Alberici, Member Date: ______________ Name of Applicant Company: _______________________________________ Tocco Villaggio III, LLC Signature of Officer or Authorized Representative: _________________________________ Name & Title of Officer or Authorized Representative: _________________________________ Joseph Alberici, Member Date: ______________ STATE OF NEW YORK ) COUNTY OF ONONDAGA ) ss.; , being first duly sworn, deposes and says: 1. That I am the (Corporate Officer) of (Applicant) and that I am duly authorized on behalf of the Applicant to bind the Applicant. 2. That I have read and attached Application, I Know the contents thereof, and that to the best of my knowledge and belief, this Application and the contents of this Application are true, accurate and complete (Signature of Officer) Subscribed and affirmed to me under penalties of perjury this day of , 20 . (Notary Public) End of Application Rev 1.18.22 Onondaga County Industrial Development Agency Page 23 STATE OF NEW YORK ) COUNTY OF ONONDAGA ) ss.; , being first duly sworn, deposes and says: 1. That I am the (Corporate Officer) of (Applicant) and that I am duly authorized on behalf of the Applicant to bind the Applicant. 2. That I have read and attached Application, I Know the contents thereof, and that to the best of my knowledge and belief, this Application and the contents of this Application are true, accurate and complete (Signature of Officer) Subscribed and affirmed to me under penalties of perjury this day of , 20 . (Notary Public) End of Application Rev 1.18.22 Onondaga County Industrial Development Agency Page 23 E U N A VE PARETI PLACE VEDUTA DRIVE ICI AL BER THIS BLOCK IS IN THE PROPOSED GREEN SPACE TOWN OF CICERO AND CONSERVATION EASEMENT IS NOT PART OF THIS PROJECT. 26-U Apa nit rtmen (3-S torie t s) E U N A VE PARETI PLACE VEDUTA DRIVE ICI AL BER THIS BLOCK IS IN THE PROPOSED GREEN SPACE TOWN OF CICERO AND CONSERVATION EASEMENT IS NOT PART OF THIS PROJECT. 26-U Apa nit rtmen (3-S torie t s) CE P LA ETI PAR 26-U Apa nit rtmen (3-S torie t s) CE P LA ETI PAR 26-U Apa nit rtmen (3-S torie t s) 26-U Apa nit rtmen (3-S torie t s) 26-U Apa nit rtmen (3-S torie t s) APARTMENT BLOCK torie t rtmen Apa nit s) 26-U (3-S APARTMENT BLOCK torie t rtmen Apa nit s) 26-U (3-S PARETI (3-S Apa nit 26-U torie t rtmen s) torie t PARETI (3-S Apa nit 26-U torie t rtmen s) torie t PLACE rtmen Apa nit s) 26-U (3-S (3-S Apa nit 26-U torie t rtmen s) 26-U PLACE rtmen Apa nit s) 26-U (3-S (3-S Apa nit 26-U torie t rtmen s) 26-U BEL Apa nit (3-S rtmen torie t LINI s) BEL Apa nit (3-S rtmen torie t LINI s) LEGION NAIRE DRIVE BO ULEV AR D LEGION NAIRE DRIVE BO ULEV AR D R PA THIS BLOCK IS IN THE ET I TOWN OF CICERO AND IS NOT PART OF THIS PLA CE R PA THIS BLOCK IS IN THE ET I TOWN OF CICERO AND IS NOT PART OF THIS PLA CE PROJECT. Drawing Copyright © 2022 PROJECT. Drawing Copyright © 2022 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com FRONT ELEVATION - 25 & 26 UNIT Drawing Copyright © 2022 FRONT ELEVATION - 25 & 26 UNIT Drawing Copyright © 2022 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com RIGHT SIDE ELEVATION - 26 UNIT Drawing Copyright © 2022 RIGHT SIDE ELEVATION - 26 UNIT Drawing Copyright © 2022 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com Drawing Copyright © 2022 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com Drawing Copyright © 2022 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com No. Submittal / Revision By Apv'd Date 1 C&S Contract Drawing Comments PBY JFT 1.22.13 Tocco Villaggio 2 C&S Comments Dated 5/24/13 PBY JFT 6.28.13 TOWN OF CLAY COUNTY OF ONONDAGA STATE OF NEW YORK 3 OCDWEP Comments Dated 12/2/13 PBY JFT 1.2.14 APARTMENT BLOCK SITE LAYOUT 8233 Park Ridge Path, Suite 2 PLAN Liverpool, NY 13090 C-520 Issue Date: 10-26-11 Project No.: 21051 Scale: As Shown Designed: PBY Drawn: AMF Checked: JFT 300 South State Street Suite 600 Syracuse, NY 13202-4712 315.471.3920 www.chacompanies.com No. Submittal / Revision By Apv'd Date 1 C&S Contract Drawing Comments PBY JFT 1.22.13 Tocco Villaggio 2 C&S Comments Dated 5/24/13 PBY JFT 6.28.13 TOWN OF CLAY COUNTY OF ONONDAGA STATE OF NEW YORK 3 OCDWEP Comments Dated 12/2/13 PBY JFT 1.2.14 APARTMENT BLOCK SITE LAYOUT 8233 Park Ridge Path, Suite 2 PLAN Liverpool, NY 13090 C-520 Issue Date: 10-26-11 Project No.: 21051 Scale: As Shown Designed: PBY Drawn: AMF Checked: JFT Onondaga County Industrial Development Agency Project Summary DRAFT 11/4/2022 1. Project Peregrine Senior Living 2. Project Number 3101-22-09A 3. Location Fayetteville 4. School District Fayetteville-Manlius School District 6. Project Type New Construction 5. Tax Parcel(s) 086.-01-03.7 Village 0 Onondaga County Industrial Development Agency Project Summary DRAFT 11/4/2022 1. Project Peregrine Senior Living 2. Project Number 3101-22-09A 3. Location Fayetteville 4. School District Fayetteville-Manlius School District 6. Project Type New Construction 5. Tax Parcel(s) 086.-01-03.7 Village 0 7.Total Project Cost $ 18,938,641.00 8. Total Jobs 40 Land $ 1,300,000 8A. Job Retention 0 Site Work $ 1,297,000 8B: Job Creation 40 Building $ 8,774,364 (Next 5 Years) Furniture & Fixtures $ 1,151,000 Equipment $ 80,000 Management/Developer Fees $ 964,000 Engineering/Architecture Fees $ 285,000 Financial Charges $ 307,000 Legal Fees $ 105,000 Other $ 4,675,277 Investment/Abatement Summary Peregrine Senior Living Project Description Fiscal Impact ($) Estimated Abatement Cost $1,522,355 Sales Tax Abatement $350,000 Mortgage Recording Tax Abatement $92,326 Real Property Tax Relief $1,080,029 7.Total Project Cost $ 18,938,641.00 8. Total Jobs 40 Land $ 1,300,000 8A. Job Retention 0 Site Work $ 1,297,000 8B: Job Creation 40 Building $ 8,774,364 (Next 5 Years) Furniture & Fixtures $ 1,151,000 Equipment $ 80,000 Management/Developer Fees $ 964,000 Engineering/Architecture Fees $ 285,000 Financial Charges $ 307,000 Legal Fees $ 105,000 Other $ 4,675,277 Investment/Abatement Summary Peregrine Senior Living Project Description Fiscal Impact ($) Estimated Abatement Cost $1,522,355 Sales Tax Abatement $350,000 Mortgage Recording Tax Abatement $92,326 Real Property Tax Relief $1,080,029 New Investment $36,939,971 PILOT Payments $1,435,104 Project Wages (10 years) $16,512,360 Peregrine Senior Living proposes to develop and operate Peregrine Senior Living Memory Care Construction Wages $4,080,938 Residence on 3.85 acres in the Town of Manlius. This project will be a 64-unit, 68 bed facilty or 35,759 square feet. Employee Benefits (10 years) $3,302,472 Project Capital Investment $11,371,364 Agency Fees $237,733 Investment:Abatement Ratio 24.27 :1 Copyright Onondaga County Industry Development Agency, All Rights Reserved Peregrine Senior Living 11/4/2022 A) PILOTS Estimate Table Worksheet DRAFT for 10 years OCIDA estimate of current market value $ 1,300,000 New Investment $36,939,971 PILOT Payments $1,435,104 Project Wages (10 years) $16,512,360 Peregrine Senior Living proposes to develop and operate Peregrine Senior Living Memory Care Construction Wages $4,080,938 Residence on 3.85 acres in the Town of Manlius. This project will be a 64-unit, 68 bed facilty or 35,759 square feet. Employee Benefits (10 years) $3,302,472 Project Capital Investment $11,371,364 Agency Fees $237,733 Investment:Abatement Ratio 24.27 :1 Copyright Onondaga County Industry Development Agency, All Rights Reserved Peregrine Senior Living 11/4/2022 A) PILOTS Estimate Table Worksheet DRAFT for 10 years OCIDA estimate of current market value $ 1,300,000 Projected investment $ 8,774,364 OCIDA estimate of increase in value $ 5,354,195 OCIDA estimated value after project is completed $ 6,654,195 Taxes that would have been collected if the project did not occur $ 491,370 Scheduled PILOT payments $ 1,435,104 Projected investment $ 8,774,364 OCIDA estimate of increase in value $ 5,354,195 OCIDA estimated value after project is completed $ 6,654,195 Taxes that would have been collected if the project did not occur $ 491,370 Scheduled PILOT payments $ 1,435,104 Fayetteville- Full Tax Onondaga PILOT YEAR Exemption % Fayetteville Manlius 0 Total PILOT Payment w/o Net Exemption County School District PILOT 1 100% $ 6,534 $ 6,415 $ 31,926 $ - $ 44,875.14 $ 229,698 $ 184,823 2 90% $ 9,410 $ 9,239 $ 45,976 $ - $ 64,624.62 $ 234,292 $ 169,668 3 80% $ 12,398 $ 12,172 $ 60,576 $ - $ 85,146.12 $ 238,978 $ 153,832 4 70% $ 15,502 $ 15,220 $ 75,741 $ - $ 106,462.64 $ 243,758 $ 137,295 5 60% $ 18,725 $ 18,384 $ 91,489 $ - $ 128,597.75 $ 248,633 $ 120,035 6 50% $ 22,071 $ 21,669 $ 107,836 $ - $ 151,575.69 $ 253,606 $ 102,030 7 40% $ 25,543 $ 25,078 $ 124,801 $ - $ 175,421.31 $ 258,678 $ 83,256 8 30% $ 29,145 $ 28,614 $ 142,401 $ - $ 200,160.12 $ 263,851 $ 63,691 9 20% $ 32,881 $ 32,282 $ 160,655 $ - $ 225,818.31 $ 269,128 $ 43,310 10 10% $ 36,755 $ 36,085 $ 179,582 $ - $ 252,422.77 $ 274,511 $ 22,088 TOTAL $ 208,965 $ 205,157 $ 1,020,982 $ - $ 1,435,104 $ 2,515,133 $ 1,080,029 Fayetteville- Full Tax Onondaga PILOT YEAR Exemption % Fayetteville Manlius 0 Total PILOT Payment w/o Net Exemption County School District PILOT 1 100% $ 6,534 $ 6,415 $ 31,926 $ - $ 44,875.14 $ 229,698 $ 184,823 2 90% $ 9,410 $ 9,239 $ 45,976 $ - $ 64,624.62 $ 234,292 $ 169,668 3 80% $ 12,398 $ 12,172 $ 60,576 $ - $ 85,146.12 $ 238,978 $ 153,832 4 70% $ 15,502 $ 15,220 $ 75,741 $ - $ 106,462.64 $ 243,758 $ 137,295 5 60% $ 18,725 $ 18,384 $ 91,489 $ - $ 128,597.75 $ 248,633 $ 120,035 6 50% $ 22,071 $ 21,669 $ 107,836 $ - $ 151,575.69 $ 253,606 $ 102,030 7 40% $ 25,543 $ 25,078 $ 124,801 $ - $ 175,421.31 $ 258,678 $ 83,256 8 30% $ 29,145 $ 28,614 $ 142,401 $ - $ 200,160.12 $ 263,851 $ 63,691 9 20% $ 32,881 $ 32,282 $ 160,655 $ - $ 225,818.31 $ 269,128 $ 43,310 10 10% $ 36,755 $ 36,085 $ 179,582 $ - $ 252,422.77 $ 274,511 $ 22,088 TOTAL $ 208,965 $ 205,157 $ 1,020,982 $ - $ 1,435,104 $ 2,515,133 $ 1,080,029 Year 0 1 2 3 4 5 Jobs Current/Actuals 0 Creation Goals 40 30 10 Total Employment Goals 40 30 10 Copyright Onondaga County Industry Development Agency, All Rights Reserved and Owner Peregrine Senior Living OCIDA Application Fayetteville Staffing # Title FT/PT Year Hired* Salary/Hourly Wage/Benefits Year 0 1 2 3 4 5 Jobs Current/Actuals 0 Creation Goals 40 30 10 Total Employment Goals 40 30 10 Copyright Onondaga County Industry Development Agency, All Rights Reserved and Owner Peregrine Senior Living OCIDA Application Fayetteville Staffing # Title FT/PT Year Hired* Salary/Hourly Wage/Benefits 1 Executive Director FT 1 $120,000.00 1 Business Office Director FT 1 $61,000.00 2 Reception FT/PT 1 $19.00/Hour 1 Director of Nursing FT 1 $69,000.00 1 Memory Care Case Manager FT 1 $64,000.00 1 Community Relations Director FT 1 $62,000.00 2 LPN FT/PT 1 $25.00/Hour 3 Team Leaders FT/PT 1 year 1 $17.00/Hour 2 year 2 3 Med Aide Staffing FT/PT 2 year 1 $16.50/17.50Hour 1 year 2 15 Resident Care Aides FT/PT 10 year 1 $16.00-$17.50/Hour 5 year 2 1 Dining Services Director FT 1 $60,000.00 2 Cooks FT/PT 1 $16.00/Hour 2 Dietary Aides FT/PT 1 year 1 $14.25/Hour 1 year 2 1 Executive Director FT 1 $120,000.00 1 Business Office Director FT 1 $61,000.00 2 Reception FT/PT 1 $19.00/Hour 1 Director of Nursing FT 1 $69,000.00 1 Memory Care Case Manager FT 1 $64,000.00 1 Community Relations Director FT 1 $62,000.00 2 LPN FT/PT 1 $25.00/Hour 3 Team Leaders FT/PT 1 year 1 $17.00/Hour 2 year 2 3 Med Aide Staffing FT/PT 2 year 1 $16.50/17.50Hour 1 year 2 15 Resident Care Aides FT/PT 10 year 1 $16.00-$17.50/Hour 5 year 2 1 Dining Services Director FT 1 $60,000.00 2 Cooks FT/PT 1 $16.00/Hour 2 Dietary Aides FT/PT 1 year 1 $14.25/Hour 1 year 2 1 Activity Director FT 1 $54,000.00 1 Activity Director Assistant PT 2 $15.50/Hour 1 Maintenance Director FT 1 $54,000.00 2 Housekeepers FT/PT 1 $15.50/Hour 40 $2,214,000.00 Annually 1 Activity Director FT 1 $54,000.00 1 Activity Director Assistant PT 2 $15.50/Hour 1 Maintenance Director FT 1 $54,000.00 2 Housekeepers FT/PT 1 $15.50/Hour 40 $2,214,000.00 Annually FAYETTEVILLE, NEW YORK Phase I Market Analysis Report Prepared For: FAYETTEVILLE, NEW YORK Phase I Market Analysis Report Prepared For: PEREGRINE SENIOR LIVING August, 2022 MDS RESEARCH COMPANY, INC. P.O Box 100578 Fort Worth, TX 76185 817-731-4266 817-738-2031 fax www.m-d-s.com mdsresearch@m-d-s.com MDS RESEARCH COMPANY, INC. P.O Box 100578 Fort Worth, TX 76185 817-731-4266 817-738-2031 fax www.m-d-s.com mdsresearch@m-d-s.com TO: Stephen Bowman DATE: August 10, 2022 FROM: Lynne Moore SUBJECT: Phase I Market Feasibility Analysis For Fayetteville, New York Contained herein are the results of a Phase I market analysis evaluating the size and depth of the market and potential demand for the development of new memory care units being considered for a site location in Fayetteville, New York. The site location is 3965 Medical Center Drive, Fayetteville, New York, 13066. This work product does not represent the full market feasibility work scope and it may not contain the appropriate and comprehensive level of detail typically required by lenders, financial institutions, investors, joint venture partners, etc. for financial purposes. It does, however, provide sufficient cost-effective detail for initial internal review and due diligence decision- making purposes. The work scope implemented for this Phase I basically included the following tasks: 1. Review all information requested from and provided by the Client Team. PEREGRINE SENIOR LIVING August, 2022 MDS RESEARCH COMPANY, INC. P.O Box 100578 Fort Worth, TX 76185 817-731-4266 817-738-2031 fax www.m-d-s.com mdsresearch@m-d-s.com MDS RESEARCH COMPANY, INC. P.O Box 100578 Fort Worth, TX 76185 817-731-4266 817-738-2031 fax www.m-d-s.com mdsresearch@m-d-s.com TO: Stephen Bowman DATE: August 10, 2022 FROM: Lynne Moore SUBJECT: Phase I Market Feasibility Analysis For Fayetteville, New York Contained herein are the results of a Phase I market analysis evaluating the size and depth of the market and potential demand for the development of new memory care units being considered for a site location in Fayetteville, New York. The site location is 3965 Medical Center Drive, Fayetteville, New York, 13066. This work product does not represent the full market feasibility work scope and it may not contain the appropriate and comprehensive level of detail typically required by lenders, financial institutions, investors, joint venture partners, etc. for financial purposes. It does, however, provide sufficient cost-effective detail for initial internal review and due diligence decision- making purposes. The work scope implemented for this Phase I basically included the following tasks: 1. Review all information requested from and provided by the Client Team. 2. Define a preliminary Primary Market Area (PMA) for the subject site location. 3. Acquire demographics for age and income qualified Seniors and adult children in the defined PMA:  For the PMA, in aggregate  By individual zip code in the PMA 4. Identify and conduct quick-reaction survey of existing (and planned/announced) memory care communities in the defined PMA. Preliminary data to be collected will include:  Age of community and contact information  Number of units/beds  Current occupancy  Basic price ranges MDS would also review our in-house data base and access other resources in order to identify other potential new Senior housing communities being planned for the defined market area. 5. Implement capture rate analysis to quantify potential future demand for proposed new memory care units giving consideration to the following: Phase I Market Feasibility Analysis -2- August 10, 2022 For Fayetteville, New York  Levels of incidence for Alzheimer’s/dementia.  Level of affordability/minimum cash flow income criteria.  Potential monthly service fee pricing for the proposed memory care units. 6. Express overall professional opinion of market feasibility for potential new memory care units in the defined market area. 2. Define a preliminary Primary Market Area (PMA) for the subject site location. 3. Acquire demographics for age and income qualified Seniors and adult children in the defined PMA:  For the PMA, in aggregate  By individual zip code in the PMA 4. Identify and conduct quick-reaction survey of existing (and planned/announced) memory care communities in the defined PMA. Preliminary data to be collected will include:  Age of community and contact information  Number of units/beds  Current occupancy  Basic price ranges MDS would also review our in-house data base and access other resources in order to identify other potential new Senior housing communities being planned for the defined market area. 5. Implement capture rate analysis to quantify potential future demand for proposed new memory care units giving consideration to the following: Phase I Market Feasibility Analysis -2- August 10, 2022 For Fayetteville, New York  Levels of incidence for Alzheimer’s/dementia.  Level of affordability/minimum cash flow income criteria.  Potential monthly service fee pricing for the proposed memory care units. 6. Express overall professional opinion of market feasibility for potential new memory care units in the defined market area. The end results of this preliminary Phase I market analysis have been summarized in this Executive Summary report supported by generally self-explanatory technical data exhibits. Primary Market Area (PMA) Definition The Primary Market Area that has been preliminarily defined and evaluated for the proposed new memory care community is a mosaic of contiguous zip code areas/communities representing a 5- to 8-mile radius of the subject site location in the Fayetteville area. Exhibit 1 presents a list of the zip codes/communities that comprise this PMA. Figure 1 presents a zip code map depicting the approximate boundaries of this PMA. For this analysis, MDS has assumed that 65% to 75% of new memory care units will be absorbed (or occupied) by Senior households residing in this PMA. In the demand models, a factor of 70% was utilized for the PMA absorption assumption. The remaining 25% to 35% is expected to come from Secondary and Tertiary Market Areas - including other areas in Onondaga County, the remainder of the state of New York and in- migration from outside the state. This in-migration will be primarily driven by the actions of the adult children/decision influencers attempting to bring their aging parents closer to them in the later stages of their life. Professional Market Feasibility Opinion The end results of this preliminary Phase I market analysis have been summarized in this Executive Summary report supported by generally self-explanatory technical data exhibits. Primary Market Area (PMA) Definition The Primary Market Area that has been preliminarily defined and evaluated for the proposed new memory care community is a mosaic of contiguous zip code areas/communities representing a 5- to 8-mile radius of the subject site location in the Fayetteville area. Exhibit 1 presents a list of the zip codes/communities that comprise this PMA. Figure 1 presents a zip code map depicting the approximate boundaries of this PMA. For this analysis, MDS has assumed that 65% to 75% of new memory care units will be absorbed (or occupied) by Senior households residing in this PMA. In the demand models, a factor of 70% was utilized for the PMA absorption assumption. The remaining 25% to 35% is expected to come from Secondary and Tertiary Market Areas - including other areas in Onondaga County, the remainder of the state of New York and in- migration from outside the state. This in-migration will be primarily driven by the actions of the adult children/decision influencers attempting to bring their aging parents closer to them in the later stages of their life. Professional Market Feasibility Opinion Based upon the preliminary quantitative results of this Phase I market analysis and MDS’ significant national experience in evaluating successful Senior housing communities, it is our specific opinion that there appears to be sufficient size and depth of the age and income qualified market to support the prudent introduction of new memory care units into the Fayetteville market area – from a quantitative perspective and based on the affordability levels evaluated herein. This opinion considers both existing and planned/announced assisted living and memory care competition as well as unit turnover - the re-filling of existing occupied units due to natural resident attrition that will occur at mature competitive communities in the market area. Following is a discussion of the demand analysis for market rate memory care units and the conservative factors and assumptions utilized herein. Senior Housing Capture Rates - Trends and Benchmarks Project “capture rate” is defined as the percentage of the age and income qualified prospects an individual Senior housing community will have to attract or capture in order to achieve 93% occupancy. The required capture rate for a Senior housing community is Phase I Market Feasibility Analysis -3- August 10, 2022 For Fayetteville, New York Based upon the preliminary quantitative results of this Phase I market analysis and MDS’ significant national experience in evaluating successful Senior housing communities, it is our specific opinion that there appears to be sufficient size and depth of the age and income qualified market to support the prudent introduction of new memory care units into the Fayetteville market area – from a quantitative perspective and based on the affordability levels evaluated herein. This opinion considers both existing and planned/announced assisted living and memory care competition as well as unit turnover - the re-filling of existing occupied units due to natural resident attrition that will occur at mature competitive communities in the market area. Following is a discussion of the demand analysis for market rate memory care units and the conservative factors and assumptions utilized herein. Senior Housing Capture Rates - Trends and Benchmarks Project “capture rate” is defined as the percentage of the age and income qualified prospects an individual Senior housing community will have to attract or capture in order to achieve 93% occupancy. The required capture rate for a Senior housing community is Phase I Market Feasibility Analysis -3- August 10, 2022 For Fayetteville, New York calculated by dividing the number of units to be absorbed from within the PMA by the number of net potential age-, income- and health-qualified prospects residing in that market area. While there have been various industry standards for acceptable capture rates, the following represents the typical maximum acceptable capture rates for each of the residential Senior living arrangements in the continuum of care:  Independent Living 5% to 10%  Assisted Living 15% to 20%  Alzheimer’s/Memory Care 15% to 20% These capture rates are based on pragmatic age and income screening – age 75+ households that can afford to private pay the market rate rents in perpetuity out of their cash flow income. They also give consideration to existing and planned/announced new competition and unit turnover. Summary of Age 75+ Demand for New Memory Care Units in an Assisted Living Setting MDS has evaluated the potential for the development of memory care units in an assisted living/residential care setting. These units would offer similar services and amenities as would be provided for traditional assisted living residents; however, the personal care services would be more frequent and intensive and the physical space would be specially designed to be secure and to effectively care for the special needs and requirements of these residents. calculated by dividing the number of units to be absorbed from within the PMA by the number of net potential age-, income- and health-qualified prospects residing in that market area. While there have been various industry standards for acceptable capture rates, the following represents the typical maximum acceptable capture rates for each of the residential Senior living arrangements in the continuum of care:  Independent Living 5% to 10%  Assisted Living 15% to 20%  Alzheimer’s/Memory Care 15% to 20% These capture rates are based on pragmatic age and income screening – age 75+ households that can afford to private pay the market rate rents in perpetuity out of their cash flow income. They also give consideration to existing and planned/announced new competition and unit turnover. Summary of Age 75+ Demand for New Memory Care Units in an Assisted Living Setting MDS has evaluated the potential for the development of memory care units in an assisted living/residential care setting. These units would offer similar services and amenities as would be provided for traditional assisted living residents; however, the personal care services would be more frequent and intensive and the physical space would be specially designed to be secure and to effectively care for the special needs and requirements of these residents. MDS has conducted a significant amount of internal research and development and has developed a demand methodology for projecting the need for memory care units in a market area. The memory care demand model is conservative, realistic and gives consideration to all of the relevant key factors and assumptions with regard to this very specialized type of living arrangement. There are no firm industry standards for maximum acceptable capture rates for memory care assisted living units in a specific market area. However, in our evaluation of these project capture rates, MDS has made comparisons to other similar, but more traditional type, living arrangements - primarily assisted living/residential care. Based on our national experience, we are observing 20% as an assisted living ceiling capture rate benchmark based on age, income and need-driven qualifying criteria. It is the opinion of MDS that the memory care assisted living capture rates should be reasonably consistent with traditional assisted living capture rates; however, they could be higher - depending on market conditions. The needs of this particular target market are highly specialized and, as a result, they do not have as many options available to them as Seniors who are not afflicted with Alzheimer’s/other dementia. Therefore, we could expect a higher percent of capture of this particular target market. MDS has, however, utilized the 20% benchmark in the evaluation of these memory care units. MDS has conducted a significant amount of internal research and development and has developed a demand methodology for projecting the need for memory care units in a market area. The memory care demand model is conservative, realistic and gives consideration to all of the relevant key factors and assumptions with regard to this very specialized type of living arrangement. There are no firm industry standards for maximum acceptable capture rates for memory care assisted living units in a specific market area. However, in our evaluation of these project capture rates, MDS has made comparisons to other similar, but more traditional type, living arrangements - primarily assisted living/residential care. Based on our national experience, we are observing 20% as an assisted living ceiling capture rate benchmark based on age, income and need-driven qualifying criteria. It is the opinion of MDS that the memory care assisted living capture rates should be reasonably consistent with traditional assisted living capture rates; however, they could be higher - depending on market conditions. The needs of this particular target market are highly specialized and, as a result, they do not have as many options available to them as Seniors who are not afflicted with Alzheimer’s/other dementia. Therefore, we could expect a higher percent of capture of this particular target market. MDS has, however, utilized the 20% benchmark in the evaluation of these memory care units. Exhibits 2 through 4 present the detailed demand models that calculate the total number of memory care units that can be supported in this PMA – assuming a maximum capture rate of Phase I Market Feasibility Analysis -4- August 10, 2022 For Fayetteville, New York 20%. These models have considered three minimum qualifying cash flow income screens and also assume 70% of the unit absorption by qualified prospects residing in the PMA and a 93% project occupancy rate. The memory care demand is summarized as follows: Base 2024 2027 Minimum Monthly Qualifying Service Total Total Refer Cash Flow Fees Units Capture Units Capture to Income Screen Supported Supported Rate Supported Rate Exhibit @ $95,000 + $6,055 86 20.0% 103 20.0% 2 @ $105,000+ $6,695 69 20.0% 84 20.0% 3 @ $115,000 + $7,330 57 20.0% 71 20.0% 4 The memory care monthly service fees supported by the various qualifying income criteria assume that 85% of the Senior’s disposable cash flow income can be allocated for the memory care pricing. They also assume an average 10% income tax factor. Exhibits 2 through 4 present the detailed demand models that calculate the total number of memory care units that can be supported in this PMA – assuming a maximum capture rate of Phase I Market Feasibility Analysis -4- August 10, 2022 For Fayetteville, New York 20%. These models have considered three minimum qualifying cash flow income screens and also assume 70% of the unit absorption by qualified prospects residing in the PMA and a 93% project occupancy rate. The memory care demand is summarized as follows: Base 2024 2027 Minimum Monthly Qualifying Service Total Total Refer Cash Flow Fees Units Capture Units Capture to Income Screen Supported Supported Rate Supported Rate Exhibit @ $95,000 + $6,055 86 20.0% 103 20.0% 2 @ $105,000+ $6,695 69 20.0% 84 20.0% 3 @ $115,000 + $7,330 57 20.0% 71 20.0% 4 The memory care monthly service fees supported by the various qualifying income criteria assume that 85% of the Senior’s disposable cash flow income can be allocated for the memory care pricing. They also assume an average 10% income tax factor. Exhibit 5 shows the calculation for computing the weighted average level of incidence for age 75+ households in the PMA in 2024 and 2027. MDS has conservatively assumed that all of the potential residents will be age 75+ and has given the appropriate (heavier) weighting to the age 85+ cohort using the levels of incidence. It is MDS opinion that these levels of incidence include Seniors with mild levels of Alzheimer’s/dementia that could be accommodated in assisted living and could be included in the levels of incidence for the need for ADLs. It has been reported that approximately 20% of residents in assisted living have mild levels of Alzheimer’s and do not require the secured environment of a special care unit; therefore, MDS has reduced the number of prospects for Alzheimer’s/memory care (demand) by 20% to eliminate this potential overlap with assisted living prospects. Impact of Home Equity Exhibit 5 shows the calculation for computing the weighted average level of incidence for age 75+ households in the PMA in 2024 and 2027. MDS has conservatively assumed that all of the potential residents will be age 75+ and has given the appropriate (heavier) weighting to the age 85+ cohort using the levels of incidence. It is MDS opinion that these levels of incidence include Seniors with mild levels of Alzheimer’s/dementia that could be accommodated in assisted living and could be included in the levels of incidence for the need for ADLs. It has been reported that approximately 20% of residents in assisted living have mild levels of Alzheimer’s and do not require the secured environment of a special care unit; therefore, MDS has reduced the number of prospects for Alzheimer’s/memory care (demand) by 20% to eliminate this potential overlap with assisted living prospects. Impact of Home Equity Exhibits 6a through 7 outline a home equity analysis in which the minimum qualifying income criteria could be reduced (for those Seniors selling their homes) due to annual cash flow that would result from the sale of a home in the Primary Market Area and the prudent reinvestment of the net, after-tax sales proceeds. This analysis estimates the number of additional households (whose actual incomes are below $95,000) who would be qualified at this level, assuming they could sell their home and conservatively invest the net equity proceeds at 4%. This would allow these Seniors to supplement their income with the interest earnings, while leaving the principal from the sale of their home intact and in their portfolio of assets for their estate. It should be noted that MDS recognizes that Senior investments may not be realizing 4% interest rates at this time, which is the assumption for the analysis in Exhibits 6a and 6b. If one was to alternatively consider this as a modest spend down strategy, this would allow for a 25 year spend down – assuming no interest earning at all on the investment of this home equity. It is MDS’ opinion that it is not prudent to rely heavily on spend down in evaluating affordability for Senior housing, however, this analysis illustrates that spend down of the home equity can be a prudent financial strategy under the right conditions. Spend down of other assets/investments and Exhibits 6a through 7 outline a home equity analysis in which the minimum qualifying income criteria could be reduced (for those Seniors selling their homes) due to annual cash flow that would result from the sale of a home in the Primary Market Area and the prudent reinvestment of the net, after-tax sales proceeds. This analysis estimates the number of additional households (whose actual incomes are below $95,000) who would be qualified at this level, assuming they could sell their home and conservatively invest the net equity proceeds at 4%. This would allow these Seniors to supplement their income with the interest earnings, while leaving the principal from the sale of their home intact and in their portfolio of assets for their estate. It should be noted that MDS recognizes that Senior investments may not be realizing 4% interest rates at this time, which is the assumption for the analysis in Exhibits 6a and 6b. If one was to alternatively consider this as a modest spend down strategy, this would allow for a 25 year spend down – assuming no interest earning at all on the investment of this home equity. It is MDS’ opinion that it is not prudent to rely heavily on spend down in evaluating affordability for Senior housing, however, this analysis illustrates that spend down of the home equity can be a prudent financial strategy under the right conditions. Spend down of other assets/investments and Phase I Market Feasibility Analysis -5- August 10, 2022 For Fayetteville, New York financial assistance from family are more difficult to quantify and, therefore, are primarily considered forecasting safety margin when evaluating the demand for new Senior living. Other Financial Resources – It should be noted that there are other resources for Seniors that are difficult to quantify, but can aid in the reduction of actual cash flow income. For example:  Many Seniors have a long-term care insurance policy that may have an assisted living benefit. Each policy may be different in terms of coverage, but many do have assisted living coverage.  Another example is the Aid-In-Attendance benefit available to U.S. veterans. Nationally, it is estimated that approximately one-third of all Seniors can qualify for additional income through the pension – under the right financial conditions. This benefit could allow additional Seniors, who have not been considered in the demand model, to afford the living arrangement to be offered at the subject new community. Phase I Market Feasibility Analysis -5- August 10, 2022 For Fayetteville, New York financial assistance from family are more difficult to quantify and, therefore, are primarily considered forecasting safety margin when evaluating the demand for new Senior living. Other Financial Resources – It should be noted that there are other resources for Seniors that are difficult to quantify, but can aid in the reduction of actual cash flow income. For example:  Many Seniors have a long-term care insurance policy that may have an assisted living benefit. Each policy may be different in terms of coverage, but many do have assisted living coverage.  Another example is the Aid-In-Attendance benefit available to U.S. veterans. Nationally, it is estimated that approximately one-third of all Seniors can qualify for additional income through the pension – under the right financial conditions. This benefit could allow additional Seniors, who have not been considered in the demand model, to afford the living arrangement to be offered at the subject new community.  There is also a growing body of empirical evidence that some Senior’s incomes are being supplemented by adult children or other family members. Most operators are not able to quantify this support and there is no direct correlation between the number of adult children in a market area and whether their parents live in or outside of a PMA. There is also no direct correlation between the affordability of the adult child versus their parent. Because the potential impacts of these various other financial resources are difficult to accurately predict and quantify, they are typically considered as forecasting safety margin in evaluating the demand for new Senior housing products in a market area. Primary Market Area Demographics Appendix A to this report summarizes the projected growth of Senior households in the age 65 to 74 and age 75+ cohorts in the zip codes located within the Fayetteville PMA. Appendix A also considers the growth in income qualified age 75+ households (specifically the $95,000+ through the $120,000+ cohorts). There were an estimated 7,656 age 75+ households in the PMA in 2022. These households are projected to increase by approximately 8% from 2022 through 2027 - there are projected to be 610 new age 75+ households over the five-year time frame from 2022 through 2027. In 2027, there are projected to be 8,266 age 75+ households in this PMA.  There is also a growing body of empirical evidence that some Senior’s incomes are being supplemented by adult children or other family members. Most operators are not able to quantify this support and there is no direct correlation between the number of adult children in a market area and whether their parents live in or outside of a PMA. There is also no direct correlation between the affordability of the adult child versus their parent. Because the potential impacts of these various other financial resources are difficult to accurately predict and quantify, they are typically considered as forecasting safety margin in evaluating the demand for new Senior housing products in a market area. Primary Market Area Demographics Appendix A to this report summarizes the projected growth of Senior households in the age 65 to 74 and age 75+ cohorts in the zip codes located within the Fayetteville PMA. Appendix A also considers the growth in income qualified age 75+ households (specifically the $95,000+ through the $120,000+ cohorts). There were an estimated 7,656 age 75+ households in the PMA in 2022. These households are projected to increase by approximately 8% from 2022 through 2027 - there are projected to be 610 new age 75+ households over the five-year time frame from 2022 through 2027. In 2027, there are projected to be 8,266 age 75+ households in this PMA. Appendix A presents similar statistics for the 65 to 74 age cohort. As can be seen by Exhibit A-1, the 65 to 74 age cohort is approximately 31% larger than the age 75+ cohort in 2022 and it will be experiencing more significant growth. The age 65 to 74 households are projected to grow by 23% over the five-year time frame - from an estimated 10,014 households in 2022 to a projected 12,275 households in 2027. When considering income qualified age 75+ Senior households, approximately 18% of the estimated age 75+ households in the PMA (or 1,368 households) are projected to have annual cash flow incomes of $95,000 or more in 2022. These income qualified households are projected Phase I Market Feasibility Analysis -6- August 10, 2022 For Fayetteville, New York to increase by 26% from 2022 to approximately 1,727 income-qualified households in 2027. Appendix A provides similar information for the $100,000+ through $120,000+ cohorts – there is projected to be a 28% to 30% growth in income-qualified senior households over the next five years – depending on the affordability level. Appendix A presents similar statistics for the 65 to 74 age cohort. As can be seen by Exhibit A-1, the 65 to 74 age cohort is approximately 31% larger than the age 75+ cohort in 2022 and it will be experiencing more significant growth. The age 65 to 74 households are projected to grow by 23% over the five-year time frame - from an estimated 10,014 households in 2022 to a projected 12,275 households in 2027. When considering income qualified age 75+ Senior households, approximately 18% of the estimated age 75+ households in the PMA (or 1,368 households) are projected to have annual cash flow incomes of $95,000 or more in 2022. These income qualified households are projected Phase I Market Feasibility Analysis -6- August 10, 2022 For Fayetteville, New York to increase by 26% from 2022 to approximately 1,727 income-qualified households in 2027. Appendix A provides similar information for the $100,000+ through $120,000+ cohorts – there is projected to be a 28% to 30% growth in income-qualified senior households over the next five years – depending on the affordability level. Exhibits 8 through 10 summarize the demographics for age 75+ senior households and adult children households (age 55 to 64) by zip code area in the Primary Market Area for the 2022, 2024 and 2027 time frames. Approximately 13% of the total households in 2022 are age 75+ senior households and 20% are adult children/decision influencer households. This is compared to 12% and 19%, respectively, for the United States overall. As can be seen by Exhibits 9 and 10, approximately 70% of the age and income qualified Senior households and 62% of the adult children/decision influencer households will reside in five of the twelve total zip code areas that contain the PMA demographics in the 2024 time frame: Age and Income Qualified Adult Children/Decision Senior Households Influencer Households  13066 Fayetteville  13208 Syracuse  13104 Manlius  13104 Manlius  13078 Jamesville  13206 Syracuse  13057 East Syracuse  13057 East Syracuse  13214 Syracuse  13066 Fayetteville Three of the zip codes falls on both top five lists:  13066 Fayetteville  13104 Manlius  13057 East Syracuse Exhibits 8 through 10 summarize the demographics for age 75+ senior households and adult children households (age 55 to 64) by zip code area in the Primary Market Area for the 2022, 2024 and 2027 time frames. Approximately 13% of the total households in 2022 are age 75+ senior households and 20% are adult children/decision influencer households. This is compared to 12% and 19%, respectively, for the United States overall. As can be seen by Exhibits 9 and 10, approximately 70% of the age and income qualified Senior households and 62% of the adult children/decision influencer households will reside in five of the twelve total zip code areas that contain the PMA demographics in the 2024 time frame: Age and Income Qualified Adult Children/Decision Senior Households Influencer Households  13066 Fayetteville  13208 Syracuse  13104 Manlius  13104 Manlius  13078 Jamesville  13206 Syracuse  13057 East Syracuse  13057 East Syracuse  13214 Syracuse  13066 Fayetteville Three of the zip codes falls on both top five lists:  13066 Fayetteville  13104 Manlius  13057 East Syracuse The subject site location is in Fayetteville zip code area 13066 and it is highlighted on each of the zip code exhibits. Summary senior demographics by each of the income cohorts are included as Appendix A to this report. The detailed demographic reports acquired from Environics Analytics - by individual zip code area as well as the aggregated PMA - are included as Appendix C. Competitive Memory Care Units in an Assisted Living Setting MDS identified and surveyed two existing memory care communities in an assisted living setting in this Primary Market Area. These two communities, combined, operate a total of 74 memory care units. Exhibits 11 and 12 summarize the occupancy and pricing characteristics of each of these communities. These two communities, combined, operate 74 living units that were reported to be 91.9% occupied at the time of the field survey. All of the vacant beds are located at Brookdale Fayetteville and are shared occupancy beds. They indicate that there is a waiting list for private occupancy units. Phase I Market Feasibility Analysis -7- August 10, 2022 For Fayetteville, New York The subject site location is in Fayetteville zip code area 13066 and it is highlighted on each of the zip code exhibits. Summary senior demographics by each of the income cohorts are included as Appendix A to this report. The detailed demographic reports acquired from Environics Analytics - by individual zip code area as well as the aggregated PMA - are included as Appendix C. Competitive Memory Care Units in an Assisted Living Setting MDS identified and surveyed two existing memory care communities in an assisted living setting in this Primary Market Area. These two communities, combined, operate a total of 74 memory care units. Exhibits 11 and 12 summarize the occupancy and pricing characteristics of each of these communities. These two communities, combined, operate 74 living units that were reported to be 91.9% occupied at the time of the field survey. All of the vacant beds are located at Brookdale Fayetteville and are shared occupancy beds. They indicate that there is a waiting list for private occupancy units. Phase I Market Feasibility Analysis -7- August 10, 2022 For Fayetteville, New York MDS also surveyed three additional memory care communities in the surrounding Secondary Market Area. These three communities, combined, operate 94 living units that were reported to be 83.0% occupied at the time of the field survey. All of these vacant beds are located within Sage Court at McHarrie Place. The vacant beds are due to the fact that they are only accepting ten residents (out of a capacity of 26 residents) at this time due to a staffing shortage. They indicated that they will be re-evaluating this situation in the next few weeks. If I can answer any questions or provide additional information regarding this Phase I market analysis, please do not hesitate to call me. We stand ready to support you in any way that we can with your project. Lynne Moore Lynne Moore President MDS RESEARCH COMPANY, INC. MDS also surveyed three additional memory care communities in the surrounding Secondary Market Area. These three communities, combined, operate 94 living units that were reported to be 83.0% occupied at the time of the field survey. All of these vacant beds are located within Sage Court at McHarrie Place. The vacant beds are due to the fact that they are only accepting ten residents (out of a capacity of 26 residents) at this time due to a staffing shortage. They indicated that they will be re-evaluating this situation in the next few weeks. If I can answer any questions or provide additional information regarding this Phase I market analysis, please do not hesitate to call me. We stand ready to support you in any way that we can with your project. Lynne Moore Lynne Moore President MDS RESEARCH COMPANY, INC. PRELIMINARY PRIMARY MARKET AREA PRELIMINARY PRIMARY MARKET AREA DEFINITION FOR A NEW MEMORY CARE DEFINITION FOR A NEW MEMORY CARE COMMUNITY IN FAYETTEVILLE, NEW YORK ● 13057 East Syracuse ● 13206 Syracuse ● 13066 Fayetteville * ● 13208 Syracuse ● 13078 Jamesville ● 13210 Syracuse ● 13082 Kirkville ● 13211 Syracuse ● 13104 Manlius ● 13214 Syracuse ● 13116 Minoa ● 13224 Syracuse * Zip Code for subject site location Figure 1 presents a map depicting the approximate boundaries of this PMA. MDS has assumed that 65% to 75% of the new unit absorption will come from age and income qualified households residing in this PMA. Fayetteville NY - Demographic Summary 2022-2024-2027\Market Area Def 8/10/2022 8 DeLorme Street Atlas USA® 2015 COMMUNITY IN FAYETTEVILLE, NEW YORK ● 13057 East Syracuse ● 13206 Syracuse ● 13066 Fayetteville * ● 13208 Syracuse ● 13078 Jamesville ● 13210 Syracuse ● 13082 Kirkville ● 13211 Syracuse ● 13104 Manlius ● 13214 Syracuse ● 13116 Minoa ● 13224 Syracuse * Zip Code for subject site location Figure 1 presents a map depicting the approximate boundaries of this PMA. MDS has assumed that 65% to 75% of the new unit absorption will come from age and income qualified households residing in this PMA. Fayetteville NY - Demographic Summary 2022-2024-2027\Market Area Def 8/10/2022 8 DeLorme Street Atlas USA® 2015 FIGURE 1 PRELIMINARY PRIMARY MARKET AREA DEFINITION FOR FAYETTEVILLE, NEW YORK Data use subject to license. TN Scale 1 : 200,000 0 1 2 3 4 5 mi © DeLorme. DeLorme Street Atlas USA® 2015. MN (12.4°W) 0 1 2 3 4 5 km www.delorme.com 1" = 3.16 mi Data Zoom 10-0 9 FIGURE 1 PRELIMINARY PRIMARY MARKET AREA DEFINITION FOR FAYETTEVILLE, NEW YORK Data use subject to license. TN Scale 1 : 200,000 0 1 2 3 4 5 mi © DeLorme. DeLorme Street Atlas USA® 2015. MN (12.4°W) 0 1 2 3 4 5 km www.delorme.com 1" = 3.16 mi Data Zoom 10-0 9 EXHIBIT 2 SUMMARY OF RESULTING AGE 75+ CAPTURE RATES FOR NEW ALZHEIMER'S/MEMORY CARE EXHIBIT 2 SUMMARY OF RESULTING AGE 75+ CAPTURE RATES FOR NEW ALZHEIMER'S/MEMORY CARE UNITS IN AN ASSISTED LIVING SETTING Fayetteville, NY $95,000 + Income 70% PMA Pragmatic Sequential Screening Process Absorption Impact Year: 2024 2027 Total (Gross) Estimated Non-Institutionalized Age 75+ Households 1 7,894 8,266 Less Existing and Planned/Announced Assisted Living Units: (298) (298) Subtotal 7,596 7,968 Estimated level of Incidence of Dementia 2 0.227 0.226 Subtotal - Dementia Level of Incidence 1,723 1,803 UNITS IN AN ASSISTED LIVING SETTING Fayetteville, NY $95,000 + Income 70% PMA Pragmatic Sequential Screening Process Absorption Impact Year: 2024 2027 Total (Gross) Estimated Non-Institutionalized Age 75+ Households 1 7,894 8,266 Less Existing and Planned/Announced Assisted Living Units: (298) (298) Subtotal 7,596 7,968 Estimated level of Incidence of Dementia 2 0.227 0.226 Subtotal - Dementia Level of Incidence 1,723 1,803 Apply Minimum Qualifying (Private Pay) Income Screen @: $95,000 +3 0.190 0.209 Subtotal Age/Income Qualified Households 328 377 Who Are Estimated to Have Dementia Additional Qualified Households Available Due to Impact of Home Sale/Equity 4 20 24 Subtotal Equity Adjusted Households 348 401 Less Competitive Memory Care Units 5 - Existing Occupied Memory Care Units (46) (46) - Vacant and Planned Memory Care Units @ 93% Occupancy 0 0 - Unit Turnover @ 45% of Occupied Units (21) (21) Net Age / Income Qualified Available Prospects 281 334 Number of Subject Memory Care Units to be Absorbed in the PMA 6 56 67 Net Age/Income Qualified Prospects in the PMA 281 334 Apply Minimum Qualifying (Private Pay) Income Screen @: $95,000 +3 0.190 0.209 Subtotal Age/Income Qualified Households 328 377 Who Are Estimated to Have Dementia Additional Qualified Households Available Due to Impact of Home Sale/Equity 4 20 24 Subtotal Equity Adjusted Households 348 401 Less Competitive Memory Care Units 5 - Existing Occupied Memory Care Units (46) (46) - Vacant and Planned Memory Care Units @ 93% Occupancy 0 0 - Unit Turnover @ 45% of Occupied Units (21) (21) Net Age / Income Qualified Available Prospects 281 334 Number of Subject Memory Care Units to be Absorbed in the PMA 6 56 67 Net Age/Income Qualified Prospects in the PMA 281 334 Resulting Age 75+ Capture Rates 20.0% 20.0% 1 These are non-institutionalized households - does not include persons in nursing homes or institutionalized group quarters. (Refer to Exhibit A-1 in Appendix A.) 2 Information provided by The Alzheimer's Disease and Related Disorders Association, Inc. Assumed 80% have moderate to severe dementia and would be prospects for a dedicated memory care community. 3 Refer to Exhibit A-2 for the calculation of age 75+ households who meet the minimum qualifying income criteria of $95,000 or more. 4 Refer to Exhibits 6a and 6b - applied level of incidence and assumed that only 50% of these residents would be coming directly from their own home - see calculation below: 140 x 28.4% x 50.0% = 20 for year 2024; 172 x 28.3% x 50.0% = 24 for year 2027. 5 Refer to Exhibit B-1 in Appendix B for a list of competitive units factored into the demand analysis. 6 86 units x 93% occupancy x 70% absorption from PMA = 56 103 units x 93% occupancy x 70% absorption from PMA = 67 units to be filled from the PMA. 10 Resulting Age 75+ Capture Rates 20.0% 20.0% 1 These are non-institutionalized households - does not include persons in nursing homes or institutionalized group quarters. (Refer to Exhibit A-1 in Appendix A.) 2 Information provided by The Alzheimer's Disease and Related Disorders Association, Inc. Assumed 80% have moderate to severe dementia and would be prospects for a dedicated memory care community. 3 Refer to Exhibit A-2 for the calculation of age 75+ households who meet the minimum qualifying income criteria of $95,000 or more. 4 Refer to Exhibits 6a and 6b - applied level of incidence and assumed that only 50% of these residents would be coming directly from their own home - see calculation below: 140 x 28.4% x 50.0% = 20 for year 2024; 172 x 28.3% x 50.0% = 24 for year 2027. 5 Refer to Exhibit B-1 in Appendix B for a list of competitive units factored into the demand analysis. 6 86 units x 93% occupancy x 70% absorption from PMA = 56 103 units x 93% occupancy x 70% absorption from PMA = 67 units to be filled from the PMA. 10 EXHIBIT 3 SUMMARY OF RESULTING AGE 75+ CAPTURE RATES FOR NEW ALZHEIMER'S/MEMORY CARE EXHIBIT 3 SUMMARY OF RESULTING AGE 75+ CAPTURE RATES FOR NEW ALZHEIMER'S/MEMORY CARE UNITS IN AN ASSISTED LIVING SETTING Fayetteville, NY $105,000 + Income 70% PMA Pragmatic Sequential Screening Process Absorption Impact Year: 2024 2027 Total (Gross) Estimated Non-Institutionalized Age 75+ Households 1 7,894 8,266 Less Existing and Planned/Announced Assisted Living Units: (298) (298) Subtotal 7,596 7,968 2 Estimated level of Incidence of Dementia 0.227 0.226 Subtotal - Dementia Level of Incidence 1,723 1,803 UNITS IN AN ASSISTED LIVING SETTING Fayetteville, NY $105,000 + Income 70% PMA Pragmatic Sequential Screening Process Absorption Impact Year: 2024 2027 Total (Gross) Estimated Non-Institutionalized Age 75+ Households 1 7,894 8,266 Less Existing and Planned/Announced Assisted Living Units: (298) (298) Subtotal 7,596 7,968 2 Estimated level of Incidence of Dementia 0.227 0.226 Subtotal - Dementia Level of Incidence 1,723 1,803 Apply Minimum Qualifying (Private Pay) 3 Income Screen @: $105,000 + 0.161 0.179 Subtotal Age/Income Qualified Households 278 323 Who Are Estimated to Have Dementia Additional Qualified Households Available Due to Impact of Home Sale/Equity 4 12 17 Subtotal Equity Adjusted Households 290 340 5 Less Competitive Memory Care Units - Existing Occupied Memory Care Units (46) (46) - Vacant and Planned Memory Care Units @ 93% Occupancy 0 0 - Unit Turnover @ 45% of Occupied Units (21) (21) Net Age / Income Qualified Available Prospects 223 273 Apply Minimum Qualifying (Private Pay) 3 Income Screen @: $105,000 + 0.161 0.179 Subtotal Age/Income Qualified Households 278 323 Who Are Estimated to Have Dementia Additional Qualified Households Available Due to Impact of Home Sale/Equity 4 12 17 Subtotal Equity Adjusted Households 290 340 5 Less Competitive Memory Care Units - Existing Occupied Memory Care Units (46) (46) - Vacant and Planned Memory Care Units @ 93% Occupancy 0 0 - Unit Turnover @ 45% of Occupied Units (21) (21) Net Age / Income Qualified Available Prospects 223 273 Number of Subject Memory Care Units to be Absorbed in the PMA 6 45 55 Net Age/Income Qualified Prospects in the PMA 223 273 Resulting Age 75+ Capture Rates 20.0% 20.0% Number of Subject Memory Care Units to be Absorbed in the PMA 6 45 55 Net Age/Income Qualified Prospects in the PMA 223 273 Resulting Age 75+ Capture Rates 20.0% 20.0% 1 These are non-institutionalized households - does not include persons in nursing homes or institutionalized group quarters. (Refer to Exhibit A-1 in Appendix A.) 2 Information provided by The Alzheimer's Disease and Related Disorders Association, Inc. Assumed 80% have moderate to severe dementia and would be prospects for a dedicated memory care community. 3 Refer to Exhibit A-4 for the calculation of age 75+ households who meet the minimum qualifying income criteria of $105,000 or more. 4 Refer to Exhibits 6a and 6b - applied level of incidence and assumed that only 50% of these residents would be coming directly from their own home - see calculation below: 88 x 28.4% x 50.0% = 12 for year 2024; 119 x 28.3% x 50.0% = 17 for year 2027. 5 Refer to Exhibit B-1 in Appendix B for a list of competitive units factored into the demand analysis. 6 69 units x 93% occupancy x 70% absorption from PMA = 45 84 units x 93% occupancy x 70% absorption from PMA = 55 units to be filled from the PMA. 1 These are non-institutionalized households - does not include persons in nursing homes or institutionalized group quarters. (Refer to Exhibit A-1 in Appendix A.) 2 Information provided by The Alzheimer's Disease and Related Disorders Association, Inc. Assumed 80% have moderate to severe dementia and would be prospects for a dedicated memory care community. 3 Refer to Exhibit A-4 for the calculation of age 75+ households who meet the minimum qualifying income criteria of $105,000 or more. 4 Refer to Exhibits 6a and 6b - applied level of incidence and assumed that only 50% of these residents would be coming directly from their own home - see calculation below: 88 x 28.4% x 50.0% = 12 for year 2024; 119 x 28.3% x 50.0% = 17 for year 2027. 5 Refer to Exhibit B-1 in Appendix B for a list of competitive units factored into the demand analysis. 6 69 units x 93% occupancy x 70% absorption from PMA = 45 84 units x 93% occupancy x 70% absorption from PMA = 55 units to be filled from the PMA. High 11 High 11 EXHIBIT 4 SUMMARY OF RESULTING AGE 75+ CAPTURE RATES FOR NEW ALZHEIMER'S/MEMORY CARE EXHIBIT 4 SUMMARY OF RESULTING AGE 75+ CAPTURE RATES FOR NEW ALZHEIMER'S/MEMORY CARE UNITS IN AN ASSISTED LIVING SETTING Fayetteville, NY $115,000 + Income 70% PMA Pragmatic Sequential Screening Process Absorption Impact Year: 2024 2027 Total (Gross) Estimated Non-Institutionalized Age 75+ Households 1 7,894 8,266 Less Existing and Planned/Announced Assisted Living Units: (298) (298) Subtotal 7,596 7,968 2 Estimated level of Incidence of Dementia 0.227 0.226 Subtotal - Dementia Level of Incidence 1,723 1,803 UNITS IN AN ASSISTED LIVING SETTING Fayetteville, NY $115,000 + Income 70% PMA Pragmatic Sequential Screening Process Absorption Impact Year: 2024 2027 Total (Gross) Estimated Non-Institutionalized Age 75+ Households 1 7,894 8,266 Less Existing and Planned/Announced Assisted Living Units: (298) (298) Subtotal 7,596 7,968 2 Estimated level of Incidence of Dementia 0.227 0.226 Subtotal - Dementia Level of Incidence 1,723 1,803 Apply Minimum Qualifying (Private Pay) 3 Income Screen @: $115,000 + 0.141 0.158 Subtotal Age/Income Qualified Households 244 284 Who Are Estimated to Have Dementia Additional Qualified Households Available Due to Impact of Home Sale/Equity 4 10 14 Subtotal Equity Adjusted Households 254 298 5 Less Competitive Memory Care Units - Existing Occupied Memory Care Units (46) (46) - Vacant and Planned Memory Care Units @ 93% Occupancy 0 0 - Unit Turnover @ 45% of Occupied Units (21) (21) Net Age / Income Qualified Available Prospects 187 231 Apply Minimum Qualifying (Private Pay) 3 Income Screen @: $115,000 + 0.141 0.158 Subtotal Age/Income Qualified Households 244 284 Who Are Estimated to Have Dementia Additional Qualified Households Available Due to Impact of Home Sale/Equity 4 10 14 Subtotal Equity Adjusted Households 254 298 5 Less Competitive Memory Care Units - Existing Occupied Memory Care Units (46) (46) - Vacant and Planned Memory Care Units @ 93% Occupancy 0 0 - Unit Turnover @ 45% of Occupied Units (21) (21) Net Age / Income Qualified Available Prospects 187 231 Number of Subject Memory Care Units to be Absorbed in the PMA 6 37 46 Net Age/Income Qualified Prospects in the PMA 187 231 Resulting Age 75+ Capture Rates 20.0% 20.0% Number of Subject Memory Care Units to be Absorbed in the PMA 6 37 46 Net Age/Income Qualified Prospects in the PMA 187 231 Resulting Age 75+ Capture Rates 20.0% 20.0% 1 These are non-institutionalized households - does not include persons in nursing homes or institutionalized group quarters. (Refer to Exhibit A-1 in Appendix A.) 2 Information provided by The Alzheimer's Disease and Related Disorders Association, Inc. Assumed 80% have moderate to severe dementia and would be prospects for a dedicated memory care community. 3 Refer to Exhibit A-6 for the calculation of age 75+ households who meet the minimum qualifying income criteria of $115,000 or more. 4 Refer to Exhibits 6a and 6b - applied level of incidence and assumed that only 50% of these residents would be coming directly from their own home - see calculation below: 72 x 28.4% x 50.0% = 10 for year 2024; 96 x 28.3% x 50.0% = 14 for year 2027. 5 Refer to Exhibit B-1 in Appendix B for a list of competitive units factored into the demand analysis. 6 57 units x 93% occupancy x 70% absorption from PMA = 37 71 units x 93% occupancy x 70% absorption from PMA = 46 units to be filled from the PMA. 1 These are non-institutionalized households - does not include persons in nursing homes or institutionalized group quarters. (Refer to Exhibit A-1 in Appendix A.) 2 Information provided by The Alzheimer's Disease and Related Disorders Association, Inc. Assumed 80% have moderate to severe dementia and would be prospects for a dedicated memory care community. 3 Refer to Exhibit A-6 for the calculation of age 75+ households who meet the minimum qualifying income criteria of $115,000 or more. 4 Refer to Exhibits 6a and 6b - applied level of incidence and assumed that only 50% of these residents would be coming directly from their own home - see calculation below: 72 x 28.4% x 50.0% = 10 for year 2024; 96 x 28.3% x 50.0% = 14 for year 2027. 5 Refer to Exhibit B-1 in Appendix B for a list of competitive units factored into the demand analysis. 6 57 units x 93% occupancy x 70% absorption from PMA = 37 71 units x 93% occupancy x 70% absorption from PMA = 46 units to be filled from the PMA. High 12 High 12 EXHIBIT 5 EXHIBIT 5 CALCULATION OF WEIGHTED AVERAGE LEVEL OF INCIDENCE FOR ALZHEIMER'S DISEASE/RELATED DEMENTIA CALCULATION OF WEIGHTED AVERAGE LEVEL OF INCIDENCE FOR ALZHEIMER'S DISEASE/RELATED DEMENTIA IN THE PRIMARY MARKET AREA Fayetteville, NY Estimated Level of Incidence 2022 for Alzheimer's 2022 Age 75+ Seniors Age 75+ Disease/Related Estimated With Age Cohort Population Dementia Alzheimer's/Dementia 75 to 84 7,570 18.7% 1,416 85+ 3,912 47.2% 1,846 Total 11,482 3,262 Weighted Average 28.4% IN THE PRIMARY MARKET AREA Fayetteville, NY Estimated Level of Incidence 2022 for Alzheimer's 2022 Age 75+ Seniors Age 75+ Disease/Related Estimated With Age Cohort Population Dementia Alzheimer's/Dementia 75 to 84 7,570 18.7% 1,416 85+ 3,912 47.2% 1,846 Total 11,482 3,262 Weighted Average 28.4% Estimated Level of Incidence 2024 for Alzheimer's 2024 Age 75+ Seniors Age 75+ Disease/Related Estimated With Age Cohort Population Dementia Alzheimer's/Dementia 75 to 84 7,837 18.7% 1,465 85+ 4,016 47.2% 1,895 Total 11,852 3,361 Weighted Average 28.4% Estimated Level of Incidence 2027 for Alzheimer's 2027 Age 75+ Seniors Age 75+ Disease/Related Estimated With Age Cohort Population Dementia Alzheimer's/Dementia 75 to 84 8,237 18.7% 1,540 85+ 4,171 47.2% 1,969 Total 12,408 3,509 Weighted Average 28.3% Estimated Level of Incidence 2024 for Alzheimer's 2024 Age 75+ Seniors Age 75+ Disease/Related Estimated With Age Cohort Population Dementia Alzheimer's/Dementia 75 to 84 7,837 18.7% 1,465 85+ 4,016 47.2% 1,895 Total 11,852 3,361 Weighted Average 28.4% Estimated Level of Incidence 2027 for Alzheimer's 2027 Age 75+ Seniors Age 75+ Disease/Related Estimated With Age Cohort Population Dementia Alzheimer's/Dementia 75 to 84 8,237 18.7% 1,540 85+ 4,171 47.2% 1,969 Total 12,408 3,509 Weighted Average 28.3% This exhibit summarizes the calculation of the weighted average incidence level for Alzheimer's Disease or other related dementia in this PMA. This weighted average level of incidence is utilized in the Alzheimer's capture rate models outlined in Exhibits 2 through 4. Sources: Alzheimer's Association Environics Analytics MDS Analysis High 13 This exhibit summarizes the calculation of the weighted average incidence level for Alzheimer's Disease or other related dementia in this PMA. This weighted average level of incidence is utilized in the Alzheimer's capture rate models outlined in Exhibits 2 through 4. Sources: Alzheimer's Association Environics Analytics MDS Analysis High 13 EXHIBIT 6a EXHIBIT 6a HOME EQUITY ANALYSIS - 2024 TIME FRAME How the Sale of a Senior's Home in the Primary Market Area Increases the Number of Age and Income Qualified Households Fayetteville, NY 1 I. 2024 Estimated Median Home Value $ 181,325 II. Assume Net Home Equity Proceeds Upon Sale @ 90% $ 163,193 2 III. Assume Equity Proceeds Can Be Invested @ 4% $6,528 /Year - Pre-Tax Increase in Investment Income IV. Required Qualifying CASH FLOW Income Criteria $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 (Before Home Equity Conversion) - Less Increase in Equity Investment Income $6,528 $6,528 $6,528 $6,528 $6,528 $6,528 V. Home Equity Cash Flow Lowers Qualifying Income Criteria to: $88,472 $93,472 $98,472 $103,472 $108,472 $113,472 HOME EQUITY ANALYSIS - 2024 TIME FRAME How the Sale of a Senior's Home in the Primary Market Area Increases the Number of Age and Income Qualified Households Fayetteville, NY 1 I. 2024 Estimated Median Home Value $ 181,325 II. Assume Net Home Equity Proceeds Upon Sale @ 90% $ 163,193 2 III. Assume Equity Proceeds Can Be Invested @ 4% $6,528 /Year - Pre-Tax Increase in Investment Income IV. Required Qualifying CASH FLOW Income Criteria $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 (Before Home Equity Conversion) - Less Increase in Equity Investment Income $6,528 $6,528 $6,528 $6,528 $6,528 $6,528 V. Home Equity Cash Flow Lowers Qualifying Income Criteria to: $88,472 $93,472 $98,472 $103,472 $108,472 $113,472 Age 75+ / Income Screens $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 3 VI. NET Age 75+ Qualified Households 1,501 1,352 1,274 1,195 1,116 1,037 VII. ADDITIONAL Age Qualified Households that Become Income Qualified 186 186 116 95 95 95 VIII. Percent of Age 75+ HOMEOWNERS in the PMA @ 75.4% Net Increase in AGE/INCOME QUALIFIED Homeowners 140 140 88 72 72 72 Due to Home Equity Conversion Impact 4 Additional Households Converting (Selling) home equity results in increased savings, portfolio value and investment income. This increases the number of age/income qualified households Refer to Exhibit 7 for a more detailed explanation of this analysis. Source: Moore Diversified Services, Inc. Analysis Age 75+ / Income Screens $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 3 VI. NET Age 75+ Qualified Households 1,501 1,352 1,274 1,195 1,116 1,037 VII. ADDITIONAL Age Qualified Households that Become Income Qualified 186 186 116 95 95 95 VIII. Percent of Age 75+ HOMEOWNERS in the PMA @ 75.4% Net Increase in AGE/INCOME QUALIFIED Homeowners 140 140 88 72 72 72 Due to Home Equity Conversion Impact 4 Additional Households Converting (Selling) home equity results in increased savings, portfolio value and investment income. This increases the number of age/income qualified households Refer to Exhibit 7 for a more detailed explanation of this analysis. Source: Moore Diversified Services, Inc. Analysis 1 Based on Census Data for Seniors and an analysis of residential home sales statistics. 2 Average over a three (3) to four (4) year period. 3 See Exhibit A-1 for Net Age Qualified Households 4 Refer to Appendix C to this report. This factor represents the percent of age 75+ households who live in owner occupied units in the PMA - based on available census data. High 14 1 Based on Census Data for Seniors and an analysis of residential home sales statistics. 2 Average over a three (3) to four (4) year period. 3 See Exhibit A-1 for Net Age Qualified Households 4 Refer to Appendix C to this report. This factor represents the percent of age 75+ households who live in owner occupied units in the PMA - based on available census data. High 14 EXHIBIT 6b EXHIBIT 6b HOME EQUITY ANALYSIS - 2027 TIME FRAME How the Sale of a Senior's Home in the Primary Market Area Increases the Number of Age and Income Qualified Households Fayetteville, NY 1 I. 2027 Estimated Median Home Value $ 199,808 II. Assume Net Home Equity Proceeds Upon Sale @ 90% $ 179,827 2 III. Assume Equity Proceeds Can Be Invested @ 4% $7,193 /Year - Pre-Tax Increase in Investment Income IV. Required Qualifying CASH FLOW Income Criteria $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 (Before Home Equity Conversion) - Less Increase in Equity Investment Income $7,193 $7,193 $7,193 $7,193 $7,193 $7,193 V. Home Equity Cash Flow Lowers Qualifying Income Criteria to: $87,807 $92,807 $97,807 $102,807 $107,807 $112,807 HOME EQUITY ANALYSIS - 2027 TIME FRAME How the Sale of a Senior's Home in the Primary Market Area Increases the Number of Age and Income Qualified Households Fayetteville, NY 1 I. 2027 Estimated Median Home Value $ 199,808 II. Assume Net Home Equity Proceeds Upon Sale @ 90% $ 179,827 2 III. Assume Equity Proceeds Can Be Invested @ 4% $7,193 /Year - Pre-Tax Increase in Investment Income IV. Required Qualifying CASH FLOW Income Criteria $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 (Before Home Equity Conversion) - Less Increase in Equity Investment Income $7,193 $7,193 $7,193 $7,193 $7,193 $7,193 V. Home Equity Cash Flow Lowers Qualifying Income Criteria to: $87,807 $92,807 $97,807 $102,807 $107,807 $112,807 Age 75+ / Income Screens $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 3 VI. NET Age 75+ Qualified Households 1,727 1,569 1,481 1,393 1,304 1,216 VII. ADDITIONAL Age Qualified Households that Become Income Qualified 228 228 158 127 127 127 VIII. Percent of Age 75+ HOMEOWNERS in the PMA @ 75.4% Net Increase in AGE/INCOME QUALIFIED Homeowners 172 172 119 96 96 96 Due to Home Equity Conversion Impact 4 Additional Households Converting (Selling) home equity results in increased savings, portfolio value and investment income. This increases the number of age/income qualified households Source: Moore Diversified Services, Inc. Analysis Age 75+ / Income Screens $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 3 VI. NET Age 75+ Qualified Households 1,727 1,569 1,481 1,393 1,304 1,216 VII. ADDITIONAL Age Qualified Households that Become Income Qualified 228 228 158 127 127 127 VIII. Percent of Age 75+ HOMEOWNERS in the PMA @ 75.4% Net Increase in AGE/INCOME QUALIFIED Homeowners 172 172 119 96 96 96 Due to Home Equity Conversion Impact 4 Additional Households Converting (Selling) home equity results in increased savings, portfolio value and investment income. This increases the number of age/income qualified households Source: Moore Diversified Services, Inc. Analysis 1 Based on Census Data for Seniors and an analysis of residential home sales statistics. 2 Average over a three (3) to four (4) year period. 3 See Exhibit A-1 for Net Age Qualified Households 4 Refer to Appendix C to this report. This factor represents the percent of age 75+ households who live in owner occupied units in the PMA - based on available census data. High 15 1 Based on Census Data for Seniors and an analysis of residential home sales statistics. 2 Average over a three (3) to four (4) year period. 3 See Exhibit A-1 for Net Age Qualified Households 4 Refer to Appendix C to this report. This factor represents the percent of age 75+ households who live in owner occupied units in the PMA - based on available census data. High 15 EXHIBIT 7 EXHIBIT 7 EXPLANATION OF CALCULATION/QUANTIFICATION EXPLANATION OF CALCULATION/QUANTIFICATION OF POTENTIAL IMPACT OF HOME EQUITY MDS has conducted an analysis giving consideration to the impact of home equity potential on Senior household incomes in the Primary Market Area (refer to Exhibits 6a and 6b). This analysis assumes that the minimum cash flow income threshold could be reduced (for those Seniors selling their homes) due to the additional annual cash flow that would result from the sale of a home and the reinvestment of the net after-tax sales proceeds. This analysis was accomplished as follows: 1. MDS assumed that the net equity (after closing costs) earned from the sale of these Seniors' homes would be equal to 90% of the sales value and that this equity could be invested at 4% (average over a three to four year period), which would generate an additional annual cash flow of $6,528 in 2024 and $7,193 in 2027. 2. MDS then reduced the minimum income criteria of $95,000 by the amount of the additional cash flow that would be generated from the sale of the home and calculated the percentage of new additional age qualified households that would now qualify at the new reduced income level. 3. MDS again reduced the new age and income qualified households to reflect only that percentage that are estimated to be homeowners (versus renters) in the Primary Market Area. Based on census data, it is estimated that approximately 75% of Seniors live in owner-occupied units. OF POTENTIAL IMPACT OF HOME EQUITY MDS has conducted an analysis giving consideration to the impact of home equity potential on Senior household incomes in the Primary Market Area (refer to Exhibits 6a and 6b). This analysis assumes that the minimum cash flow income threshold could be reduced (for those Seniors selling their homes) due to the additional annual cash flow that would result from the sale of a home and the reinvestment of the net after-tax sales proceeds. This analysis was accomplished as follows: 1. MDS assumed that the net equity (after closing costs) earned from the sale of these Seniors' homes would be equal to 90% of the sales value and that this equity could be invested at 4% (average over a three to four year period), which would generate an additional annual cash flow of $6,528 in 2024 and $7,193 in 2027. 2. MDS then reduced the minimum income criteria of $95,000 by the amount of the additional cash flow that would be generated from the sale of the home and calculated the percentage of new additional age qualified households that would now qualify at the new reduced income level. 3. MDS again reduced the new age and income qualified households to reflect only that percentage that are estimated to be homeowners (versus renters) in the Primary Market Area. Based on census data, it is estimated that approximately 75% of Seniors live in owner-occupied units. As can be seen from Exhibit 6a, approximately 140 additional age 75+ households (whose income is below $95,000) would be qualified at this level, providing they could sell their home and invest the net equity at 4%, thereby supplementing their existing annual cash flow income. 16 As can be seen from Exhibit 6a, approximately 140 additional age 75+ households (whose income is below $95,000) would be qualified at this level, providing they could sell their home and invest the net equity at 4%, thereby supplementing their existing annual cash flow income. 16 EXHIBIT 8 EXHIBIT 8 ANALYSIS OF AGE QUALIFIED SENIOR ANALYSIS OF AGE QUALIFIED SENIOR HOUSEHOLDS BY ZIP CODE IN THE PRIMARY MARKET AREA Before Income Screen Age 75+ Senior Households Total Absolute Average 2022 Increase Annual Zip Code / Community Households 2022 2024 2027 2022-2027 % Change 13208 Syracuse 8,989 847 876 921 74 1.7% 13210 Syracuse 8,594 549 592 662 113 3.8% 13206 Syracuse 7,862 777 808 856 79 2.0% 13057 East Syracuse 6,631 1,062 1,084 1,117 55 1.0% 13104 Manlius 6,510 836 868 919 83 1.9% 13066 Fayetteville * 5,660 1,008 1,030 1,064 56 1.1% 13078 Jamesville 3,903 672 692 722 50 1.4% 13224 Syracuse 3,787 499 512 533 34 1.3% 13214 Syracuse 3,154 593 598 606 13 0.4% 13211 Syracuse 2,740 305 315 331 26 1.6% 13082 Kirkville 2,046 303 309 317 14 0.9% 13116 Minoa 1,467 205 210 218 13 1.2% Total 61,343 7,656 7,894 8,266 610 1.5% HOUSEHOLDS BY ZIP CODE IN THE PRIMARY MARKET AREA Before Income Screen Age 75+ Senior Households Total Absolute Average 2022 Increase Annual Zip Code / Community Households 2022 2024 2027 2022-2027 % Change 13208 Syracuse 8,989 847 876 921 74 1.7% 13210 Syracuse 8,594 549 592 662 113 3.8% 13206 Syracuse 7,862 777 808 856 79 2.0% 13057 East Syracuse 6,631 1,062 1,084 1,117 55 1.0% 13104 Manlius 6,510 836 868 919 83 1.9% 13066 Fayetteville * 5,660 1,008 1,030 1,064 56 1.1% 13078 Jamesville 3,903 672 692 722 50 1.4% 13224 Syracuse 3,787 499 512 533 34 1.3% 13214 Syracuse 3,154 593 598 606 13 0.4% 13211 Syracuse 2,740 305 315 331 26 1.6% 13082 Kirkville 2,046 303 309 317 14 0.9% 13116 Minoa 1,467 205 210 218 13 1.2% Total 61,343 7,656 7,894 8,266 610 1.5% * Zip Code for subject site location Source: Environics Analytics MDS Analysis Fayetteville NY - Demographic Summary 2022-2024-2027\Analysis Summary 75+ 17 8/10/2022 * Zip Code for subject site location Source: Environics Analytics MDS Analysis Fayetteville NY - Demographic Summary 2022-2024-2027\Analysis Summary 75+ 17 8/10/2022 EXHIBIT 9 SUMMARY OF INCOME QUALIFIED AGE 75+ EXHIBIT 9 SUMMARY OF INCOME QUALIFIED AGE 75+ HOUSEHOLDS BY ZIP CODE IN THE PRIMARY MARKET AREA After Income Screen Total 2022 $95,000 + Average Age 75+ Qualifying Income Screen Absolute Annual Zip Code / Community Households 2022 2024 2027 2022-2027 % Change * 13057 East Syracuse 1,062 147 164 193 46 5.6% * 13066 Fayetteville ** 1,008 272 292 325 53 3.6% 13208 Syracuse 847 52 60 75 23 7.6% * 13104 Manlius 836 213 233 268 55 4.7% 13206 Syracuse 777 50 54 61 11 4.1% * 13078 Jamesville 672 186 205 238 52 5.1% * 13214 Syracuse 593 151 164 187 36 4.4% 13210 Syracuse 549 69 79 96 27 6.8% 13224 Syracuse 499 116 124 136 20 3.2% 13211 Syracuse 305 28 32 40 12 7.4% 13082 Kirkville 303 53 59 69 16 5.4% 13116 Minoa 205 30 33 39 9 5.4% HOUSEHOLDS BY ZIP CODE IN THE PRIMARY MARKET AREA After Income Screen Total 2022 $95,000 + Average Age 75+ Qualifying Income Screen Absolute Annual Zip Code / Community Households 2022 2024 2027 2022-2027 % Change * 13057 East Syracuse 1,062 147 164 193 46 5.6% * 13066 Fayetteville ** 1,008 272 292 325 53 3.6% 13208 Syracuse 847 52 60 75 23 7.6% * 13104 Manlius 836 213 233 268 55 4.7% 13206 Syracuse 777 50 54 61 11 4.1% * 13078 Jamesville 672 186 205 238 52 5.1% * 13214 Syracuse 593 151 164 187 36 4.4% 13210 Syracuse 549 69 79 96 27 6.8% 13224 Syracuse 499 116 124 136 20 3.2% 13211 Syracuse 305 28 32 40 12 7.4% 13082 Kirkville 303 53 59 69 16 5.4% 13116 Minoa 205 30 33 39 9 5.4% Total 7,656 1,367 1,501 1,727 360 4.8% * The highlighted zip codes contain approximately 70% of the age and income qualified Senior households (age 75+, $95,000+) in the PMA in 2024. ** Zip Code for subject site location Source: Environics Analytics MDS Analysis Fayetteville NY - Demographic Summary 2022-2024-2027\Age 75+ 8/10/2022 18 Total 7,656 1,367 1,501 1,727 360 4.8% * The highlighted zip codes contain approximately 70% of the age and income qualified Senior households (age 75+, $95,000+) in the PMA in 2024. ** Zip Code for subject site location Source: Environics Analytics MDS Analysis Fayetteville NY - Demographic Summary 2022-2024-2027\Age 75+ 8/10/2022 18 EXHIBIT 10 EXHIBIT 10 ANALYSIS OF AGE QUALIFIED DECISION INFLUENCER ANALYSIS OF AGE QUALIFIED DECISION INFLUENCER HOUSEHOLDS BY ZIP CODE IN THE PRIMARY MARKET AREA Before Income Screen Age 55 to 64 Adult Children Households Total Average 2022 Absolute Annual Zip Code / Community Households 2022 2024 2027 2022-2027 % Change * 13208 Syracuse 8,989 1,658 1,637 1,607 (51) -0.6% 13210 Syracuse 8,594 1,048 1,017 972 (76) -1.5% * 13206 Syracuse 7,862 1,464 1,440 1,404 (60) -0.8% * 13057 East Syracuse 6,631 1,423 1,390 1,343 (80) -1.2% * 13104 Manlius 6,510 1,627 1,604 1,570 (57) -0.7% * 13066 Fayetteville ** 5,660 1,297 1,291 1,281 (16) -0.2% 13078 Jamesville 3,903 901 901 900 (1) 0.0% 13224 Syracuse 3,787 726 711 690 (36) -1.0% 13214 Syracuse 3,154 649 634 612 (37) -1.2% 13211 Syracuse 2,740 565 554 537 (28) -1.0% 13082 Kirkville 2,046 503 502 501 (2) -0.1% 13116 Minoa 1,467 275 266 252 (23) -1.7% Total 61,343 12,136 11,947 11,669 (467) -0.8% HOUSEHOLDS BY ZIP CODE IN THE PRIMARY MARKET AREA Before Income Screen Age 55 to 64 Adult Children Households Total Average 2022 Absolute Annual Zip Code / Community Households 2022 2024 2027 2022-2027 % Change * 13208 Syracuse 8,989 1,658 1,637 1,607 (51) -0.6% 13210 Syracuse 8,594 1,048 1,017 972 (76) -1.5% * 13206 Syracuse 7,862 1,464 1,440 1,404 (60) -0.8% * 13057 East Syracuse 6,631 1,423 1,390 1,343 (80) -1.2% * 13104 Manlius 6,510 1,627 1,604 1,570 (57) -0.7% * 13066 Fayetteville ** 5,660 1,297 1,291 1,281 (16) -0.2% 13078 Jamesville 3,903 901 901 900 (1) 0.0% 13224 Syracuse 3,787 726 711 690 (36) -1.0% 13214 Syracuse 3,154 649 634 612 (37) -1.2% 13211 Syracuse 2,740 565 554 537 (28) -1.0% 13082 Kirkville 2,046 503 502 501 (2) -0.1% 13116 Minoa 1,467 275 266 252 (23) -1.7% Total 61,343 12,136 11,947 11,669 (467) -0.8% * The highlighted zip codes contain approximately 62% of the adult children/ decision influencer households (age 55 to 64) in the PMA in 2024. ** Zip Code for subject site location Source: Environics Analytics MDS Analysis Fayetteville NY - Demographic Summary 2022-2024-2027\Age 55-64 19 8/10/2022 * The highlighted zip codes contain approximately 62% of the adult children/ decision influencer households (age 55 to 64) in the PMA in 2024. ** Zip Code for subject site location Source: Environics Analytics MDS Analysis Fayetteville NY - Demographic Summary 2022-2024-2027\Age 55-64 19 8/10/2022 EXHIBIT 11 EXHIBIT 11 MAJOR COMPETING ALZHEIMER'S/MEMORY CARE COMMUNITIES MAJOR COMPETING ALZHEIMER'S/MEMORY CARE COMMUNITIES IN THE MARKET AREA Current # of # of # of # of # of Ref. Date Occupancy Licensed Existing Planned Occupied Vacant No. Name of Community Opened % Beds/Units Beds/Units Beds/Units Beds/Units Beds/Units Primary Market Area 1 Brookdale Fayetteville 1999 88.5% 52 52 0 46 6 2 The Nottingham Memory Care - Borer 1992 100.0% 24 22 0 22 0 PMA TOTAL 91.9% 76 74 0 68 6 Secondary Market Area 3 Keepsake Village at Greenpoint 1994 100.0% 57 55 0 55 0 IN THE MARKET AREA Current # of # of # of # of # of Ref. Date Occupancy Licensed Existing Planned Occupied Vacant No. Name of Community Opened % Beds/Units Beds/Units Beds/Units Beds/Units Beds/Units Primary Market Area 1 Brookdale Fayetteville 1999 88.5% 52 52 0 46 6 2 The Nottingham Memory Care - Borer 1992 100.0% 24 22 0 22 0 PMA TOTAL 91.9% 76 74 0 68 6 Secondary Market Area 3 Keepsake Village at Greenpoint 1994 100.0% 57 55 0 55 0 4 McHarrie Point - Sage Court 1978 38.5% 27 26 0 10 16 * They are only accepting 10 memory care residents now due to staffing shortage. Will re-evaluate in a few weeks. 5 Park Terrace at Radisson 2006 100.0% 13 13 0 13 0 SMA TOTAL 83.0% 97 94 0 78 16 PMA & SMA TOTAL 86.9% 173 168 0 146 22 20 Fayetteville NY - Assisted Living\ALZ Comp Summary - Ph I Source: MDS Field Survey - April, 2022 8/10/2022 4 McHarrie Point - Sage Court 1978 38.5% 27 26 0 10 16 * They are only accepting 10 memory care residents now due to staffing shortage. Will re-evaluate in a few weeks. 5 Park Terrace at Radisson 2006 100.0% 13 13 0 13 0 SMA TOTAL 83.0% 97 94 0 78 16 PMA & SMA TOTAL 86.9% 173 168 0 146 22 20 Fayetteville NY - Assisted Living\ALZ Comp Summary - Ph I Source: MDS Field Survey - April, 2022 8/10/2022 EXHIBIT 12 EXHIBIT 12 DETAILED CHARACTERISTICS OF ALZHEIMER'S/MEMORY CARE COMMUNITIES DETAILED CHARACTERISTICS OF ALZHEIMER'S/MEMORY CARE COMMUNITIES PRIMARY MARKET AREA The Nottingham Memory COMMUNITIES Brookdale Fayetteville Care Residence - Borer Address & Phone: 5125 Highbridge Street 1307 Nottingham Road Fayetteville NY 13066 Jamesville NY 13078 315-637-2000 315-445-9242 Reference No. 1 2 Opening Date 1999 1992 Owner/Management: Brookdale Senior Living Loretto Number of Units/Beds: Alzheimer's/Memory Care 52 22 Assisted Living 0 48 Independent Living 0 186 Nursing Beds 0 0 Planned Units 0 0 PRIMARY MARKET AREA The Nottingham Memory COMMUNITIES Brookdale Fayetteville Care Residence - Borer Address & Phone: 5125 Highbridge Street 1307 Nottingham Road Fayetteville NY 13066 Jamesville NY 13078 315-637-2000 315-445-9242 Reference No. 1 2 Opening Date 1999 1992 Owner/Management: Brookdale Senior Living Loretto Number of Units/Beds: Alzheimer's/Memory Care 52 22 Assisted Living 0 48 Independent Living 0 186 Nursing Beds 0 0 Planned Units 0 0 Occupancy Rates: Alzheimer's/Memory Care 88.5% 100.0% Assisted Living - - Independent Living - - Nursing Beds - - Community Fee/Security $4,500 $3,900 Deposit Base Monthly Service Fees: Studios/Alcove $7,395 $8,300 - $8,500 One Bedroom - - Companion Suite $5,825 - Second Person Fee - - Unit Size in S. F.: Studios/Alcove Bedroom 350 503 One Bedroom - - Companion Suite Bedroom - Occupancy Rates: Alzheimer's/Memory Care 88.5% 100.0% Assisted Living - - Independent Living - - Nursing Beds - - Community Fee/Security $4,500 $3,900 Deposit Base Monthly Service Fees: Studios/Alcove $7,395 $8,300 - $8,500 One Bedroom - - Companion Suite $5,825 - Second Person Fee - - Unit Size in S. F.: Studios/Alcove Bedroom 350 503 One Bedroom - - Companion Suite Bedroom - All Inclusive Pricing: Yes Yes Levels of Care: Level I - - Level II - - Level III - - Level IV - - Extra Charge For: Medication Management - - Incontinence Care - - - = Not offered at community; N/A = Information not available during survey. Source: MDS Field Survey - April, 2022 Fayetteville NY - Assisted Living\ALZ Comp - Ph I 8/10/2022 21 Exhibit 12 Detailed Characteristics of Alzheimer's/Memory Care Communities All Inclusive Pricing: Yes Yes Levels of Care: Level I - - Level II - - Level III - - Level IV - - Extra Charge For: Medication Management - - Incontinence Care - - - = Not offered at community; N/A = Information not available during survey. Source: MDS Field Survey - April, 2022 Fayetteville NY - Assisted Living\ALZ Comp - Ph I 8/10/2022 21 Exhibit 12 Detailed Characteristics of Alzheimer's/Memory Care Communities SECONDARY MARKET AREA Keepsake Village McHarrie Point Park Terrace COMMUNITIES at Greenpoint Sage Court at Radisson Address & Phone: 138 Old Liverpool 7740 Meigs Road 2981 Town Center Rd Liverpool NY 13088 Baldwinsville NY 13027 Baldwinsville NY 13027 315-565-2706 315-638-2521 315-638-9207 Reference No. 3 4 5 Opening Date 1994 1978 2006 Owner/Management: Hearth Management, LLC Syracruse Home Association Premiere Senior Living, LLC SECONDARY MARKET AREA Keepsake Village McHarrie Point Park Terrace COMMUNITIES at Greenpoint Sage Court at Radisson Address & Phone: 138 Old Liverpool 7740 Meigs Road 2981 Town Center Rd Liverpool NY 13088 Baldwinsville NY 13027 Baldwinsville NY 13027 315-565-2706 315-638-2521 315-638-9207 Reference No. 3 4 5 Opening Date 1994 1978 2006 Owner/Management: Hearth Management, LLC Syracruse Home Association Premiere Senior Living, LLC Number of Units/Beds: Alzheimer's/Memory Care 55 26 13 Assisted Living 0 19 51 Independent Living 0 111 0 Nursing Beds 0 0 0 Planned Units 0 0 0 Occupancy Rates: Alzheimer's/Memory Care 100.0% 38.5% 100.0% Assisted Living - - - Independent Living - - - Nursing Beds - - - Community Fee/Security 1 Month's Rent 1 Month's Rent $3,000 Deposit Plus $500 processing fee Number of Units/Beds: Alzheimer's/Memory Care 55 26 13 Assisted Living 0 19 51 Independent Living 0 111 0 Nursing Beds 0 0 0 Planned Units 0 0 0 Occupancy Rates: Alzheimer's/Memory Care 100.0% 38.5% 100.0% Assisted Living - - - Independent Living - - - Nursing Beds - - - Community Fee/Security 1 Month's Rent 1 Month's Rent $3,000 Deposit Plus $500 processing fee Base Monthly Service Fees: Studios/Alcove $7,392 $4,955 - $5,260 $5,910 One Bedroom - - - Companion Suite $5,910 - - Second Person Fee - - - Unit Size in S. F.: Studios/Alcove Bedroom 200 - 331 N/A One Bedroom - - - Companion Suite Bedroom - - All Inclusive Pricing: Yes Yes Yes Base Monthly Service Fees: Studios/Alcove $7,392 $4,955 - $5,260 $5,910 One Bedroom - - - Companion Suite $5,910 - - Second Person Fee - - - Unit Size in S. F.: Studios/Alcove Bedroom 200 - 331 N/A One Bedroom - - - Companion Suite Bedroom - - All Inclusive Pricing: Yes Yes Yes Levels of Care: Level I - - - Level II - - - Level III - - - Level IV - - - Extra Charge For: Medication Management - - - Incontinence Care - - - - = Not offered at community; N/A = Information not available during survey. Source: MDS Field Survey - April, 2022 Fayetteville NY - Assisted Living\ALZ Comp - Ph I 8/10/2022 22 Levels of Care: Level I - - - Level II - - - Level III - - - Level IV - - - Extra Charge For: Medication Management - - - Incontinence Care - - - - = Not offered at community; N/A = Information not available during survey. Source: MDS Field Survey - April, 2022 Fayetteville NY - Assisted Living\ALZ Comp - Ph I 8/10/2022 22 FOR THE PRIMARY MARKET AREA MDS RESEARCH COMPANY, INC. P O Box 100578 ! Fort Worth, TX 76185 ! 817-731-4266 ! 817-738-2031 Fax www.m-d-s.com ! mdsresearch@m-d-s.com FOR THE PRIMARY MARKET AREA MDS RESEARCH COMPANY, INC. P O Box 100578 ! Fort Worth, TX 76185 ! 817-731-4266 ! 817-738-2031 Fax www.m-d-s.com ! mdsresearch@m-d-s.com EXHIBIT A-1 AGE 65+ AND AGE 75+ HOUSEHOLD GROWTH IN THE PRIMARY MARKET AREA Fayetteville, NY Number of Households Year 65-74 75 + 2000 6,721 7,143 2022 10,014 7,656 2024 10,864 7,894 2027 12,275 8,266 Change in Households 2022 - 2027 - Absolute 2,261 610 - Percentage 22.58% 7.97% Average Annual % Change 2022 - 2027 4.16% 1.55% See Figure 1 of this report for details on specific market area definitions. Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. Sources: Environics Analytics Moore Diversified Services, Inc. EXHIBIT A-1 AGE 65+ AND AGE 75+ HOUSEHOLD GROWTH IN THE PRIMARY MARKET AREA Fayetteville, NY Number of Households Year 65-74 75 + 2000 6,721 7,143 2022 10,014 7,656 2024 10,864 7,894 2027 12,275 8,266 Change in Households 2022 - 2027 - Absolute 2,261 610 - Percentage 22.58% 7.97% Average Annual % Change 2022 - 2027 4.16% 1.55% See Figure 1 of this report for details on specific market area definitions. Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. Sources: Environics Analytics Moore Diversified Services, Inc. High A-1 High A-1 EXHIBIT A-2 EXHIBIT A-2 CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $95,000 Number of Households Year 65-74 75 + 2000 1 755 452 2022 1 3,278 1,368 2024 3,723 1,501 2027 1 4,505 1,727 Change in Income Qualified Households 2022 - 2027 - Absolute 1,227 360 - Percentage 37.42% 26.29% Average Annual % Change 6.56% 4.78% CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $95,000 Number of Households Year 65-74 75 + 2000 1 755 452 2022 1 3,278 1,368 2024 3,723 1,501 2027 1 4,505 1,727 Change in Income Qualified Households 2022 - 2027 - Absolute 1,227 360 - Percentage 37.42% 26.29% Average Annual % Change 6.56% 4.78% Qualified Households - 2022 3,278 1,368 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $95,000 + in 2022 32.7% 17.9% Qualified Households - 2024 3,723 1,501 2 Total Households - 2024 10,864 7,894 % Income Qualified @ $95,000 + in 2024 34.3% 19.0% Qualified Households - 2027 4,505 1,727 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $95,000 + in 2027 36.7% 20.9% Sources: Environics Analytics MDS Analysis Qualified Households - 2022 3,278 1,368 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $95,000 + in 2022 32.7% 17.9% Qualified Households - 2024 3,723 1,501 2 Total Households - 2024 10,864 7,894 % Income Qualified @ $95,000 + in 2024 34.3% 19.0% Qualified Households - 2027 4,505 1,727 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $95,000 + in 2027 36.7% 20.9% Sources: Environics Analytics MDS Analysis 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. A-2 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. A-2 EXHIBIT A-3 EXHIBIT A-3 CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $100,000 Number of Households Year 65-74 75 + 1 2000 676 398 2022 1 3,021 1,225 2024 3,445 1,352 2027 1 4,195 1,569 Change in Income Qualified Households 2022 - 2027 - Absolute 1,174 344 - Percentage 38.86% 28.08% CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $100,000 Number of Households Year 65-74 75 + 1 2000 676 398 2022 1 3,021 1,225 2024 3,445 1,352 2027 1 4,195 1,569 Change in Income Qualified Households 2022 - 2027 - Absolute 1,174 344 - Percentage 38.86% 28.08% Average Annual % Change 6.79% 5.07% Qualified Households - 2022 3,021 1,225 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $100,000 + in 2022 30.2% 16.0% Qualified Households - 2024 3,445 1,352 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $100,000 + in 2024 31.7% 17.1% Qualified Households - 2027 4,195 1,569 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $100,000 + in 2027 34.2% 19.0% Sources: Environics Analytics MDS Analysis Average Annual % Change 6.79% 5.07% Qualified Households - 2022 3,021 1,225 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $100,000 + in 2022 30.2% 16.0% Qualified Households - 2024 3,445 1,352 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $100,000 + in 2024 31.7% 17.1% Qualified Households - 2027 4,195 1,569 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $100,000 + in 2027 34.2% 19.0% Sources: Environics Analytics MDS Analysis 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-3 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-3 EXHIBIT A-4 EXHIBIT A-4 CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $105,000 Number of Households Year 65-74 75 + 1 2000 625 370 2022 1 2,865 1,152 2024 3,273 1,274 2027 1 3,995 1,481 Change in Income Qualified Households 2022 - 2027 - Absolute 1,130 329 - Percentage 39.44% 28.54% CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $105,000 Number of Households Year 65-74 75 + 1 2000 625 370 2022 1 2,865 1,152 2024 3,273 1,274 2027 1 3,995 1,481 Change in Income Qualified Households 2022 - 2027 - Absolute 1,130 329 - Percentage 39.44% 28.54% Average Annual % Change 6.87% 5.15% Qualified Households - 2022 2,865 1,152 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $105,000 + in 2022 28.6% 15.0% Qualified Households - 2024 3,273 1,274 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $105,000 + in 2024 30.1% 16.1% Qualified Households - 2027 3,995 1,481 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $105,000 + in 2027 32.5% 17.9% Sources: Environics Analytics MDS Analysis Average Annual % Change 6.87% 5.15% Qualified Households - 2022 2,865 1,152 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $105,000 + in 2022 28.6% 15.0% Qualified Households - 2024 3,273 1,274 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $105,000 + in 2024 30.1% 16.1% Qualified Households - 2027 3,995 1,481 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $105,000 + in 2027 32.5% 17.9% Sources: Environics Analytics MDS Analysis 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-4 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-4 EXHIBIT A-5 EXHIBIT A-5 CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $110,000 Number of Households Year 65-74 75 + 2000 1 574 341 1 2022 2,710 1,079 2024 3,101 1,195 2027 1 3,796 1,393 Change in Income Qualified Households 2022 - 2027 - Absolute 1,086 314 - Percentage 40.08% 29.06% CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $110,000 Number of Households Year 65-74 75 + 2000 1 574 341 1 2022 2,710 1,079 2024 3,101 1,195 2027 1 3,796 1,393 Change in Income Qualified Households 2022 - 2027 - Absolute 1,086 314 - Percentage 40.08% 29.06% Average Annual % Change 6.97% 5.24% Qualified Households - 2022 2,710 1,079 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $110,000 + in 2022 27.1% 14.1% Qualified Households - 2024 3,101 1,195 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $110,000 + in 2024 28.5% 15.1% Qualified Households - 2027 3,796 1,393 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $110,000 + in 2027 30.9% 16.8% Sources: Environics Analytics MDS Analysis Average Annual % Change 6.97% 5.24% Qualified Households - 2022 2,710 1,079 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $110,000 + in 2022 27.1% 14.1% Qualified Households - 2024 3,101 1,195 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $110,000 + in 2024 28.5% 15.1% Qualified Households - 2027 3,796 1,393 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $110,000 + in 2027 30.9% 16.8% Sources: Environics Analytics MDS Analysis 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-5 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-5 EXHIBIT A-6 EXHIBIT A-6 CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $115,000 Number of Households Year 65-74 75 + 2000 1 523 313 1 2022 2,554 1,006 2024 2,929 1,116 2027 1 3,596 1,304 Change in Income Qualified Households 2022 - 2027 - Absolute 1,042 298 - Percentage 40.80% 29.66% CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $115,000 Number of Households Year 65-74 75 + 2000 1 523 313 1 2022 2,554 1,006 2024 2,929 1,116 2027 1 3,596 1,304 Change in Income Qualified Households 2022 - 2027 - Absolute 1,042 298 - Percentage 40.80% 29.66% Average Annual % Change 7.08% 5.33% Qualified Households - 2022 2,554 1,006 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $115,000 + in 2022 25.5% 13.1% Qualified Households - 2024 2,929 1,116 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $115,000 + in 2024 27.0% 14.1% Qualified Households - 2027 3,596 1,304 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $115,000 + in 2027 29.3% 15.8% Sources: Environics Analytics MDS Analysis Average Annual % Change 7.08% 5.33% Qualified Households - 2022 2,554 1,006 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $115,000 + in 2022 25.5% 13.1% Qualified Households - 2024 2,929 1,116 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $115,000 + in 2024 27.0% 14.1% Qualified Households - 2027 3,596 1,304 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $115,000 + in 2027 29.3% 15.8% Sources: Environics Analytics MDS Analysis 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-6 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-6 EXHIBIT A-7 EXHIBIT A-7 CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $120,000 Number of Households Year 65-74 75 + 2000 1 472 284 1 2022 2,399 933 2024 2,757 1,037 2027 1 3,397 1,216 Change in Income Qualified Households 2022 - 2027 - Absolute 998 283 - Percentage 41.61% 30.35% CALCULATION FOR INCOME QUALIFYING CRITERIA IN THE PRIMARY MARKET AREA Fayetteville, NY Income Qualification Level: $120,000 Number of Households Year 65-74 75 + 2000 1 472 284 1 2022 2,399 933 2024 2,757 1,037 2027 1 3,397 1,216 Change in Income Qualified Households 2022 - 2027 - Absolute 998 283 - Percentage 41.61% 30.35% Average Annual % Change 7.21% 5.44% Qualified Households - 2022 2,399 933 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $120,000 + in 2000 24.0% 12.2% Qualified Households - 2024 2,757 1,037 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $120,000 + in 2024 25.4% 13.1% Qualified Households - 2027 3,397 1,216 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $120,000 + in 2027 27.7% 14.7% Sources: Environics Analytics MDS Analysis Average Annual % Change 7.21% 5.44% Qualified Households - 2022 2,399 933 2 Total Households - 2022 10,014 7,656 % Income Qualified @ $120,000 + in 2000 24.0% 12.2% Qualified Households - 2024 2,757 1,037 Total Households - 2024 2 10,864 7,894 % Income Qualified @ $120,000 + in 2024 25.4% 13.1% Qualified Households - 2027 3,397 1,216 2 Total Households - 2027 12,275 8,266 % Income Qualified @ $120,000 + in 2027 27.7% 14.7% Sources: Environics Analytics MDS Analysis 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-7 1 Figures pulled from detailed demographic runs acquired from Environics Analytics and included in Appendix C. 2 The denominator in this calculation (total 2022 households) is provided on Exhibit A-1. High A-7 SUMMARY OF COMPETITIVE ALZHEIMER’S/MEMORY CARE UNITS SUMMARY OF COMPETITIVE ALZHEIMER’S/MEMORY CARE UNITS CAPTURE RATE/DEMAND MODELS MDS RESEARCH COMPANY, INC. P O Box 100578 ! Fort Worth, TX 76185 ! 817-731-4266 ! 817-738-2031 Fax www.m-d-s.com ! mdsresearch@m-d-s.com CAPTURE RATE/DEMAND MODELS MDS RESEARCH COMPANY, INC. P O Box 100578 ! Fort Worth, TX 76185 ! 817-731-4266 ! 817-738-2031 Fax www.m-d-s.com ! mdsresearch@m-d-s.com EXHIBIT B-1 EXHIBIT B-1 SUMMARY OF COMPETITIVE ALZHEIMER'S UNITS SUMMARY OF COMPETITIVE ALZHEIMER'S UNITS FACTORED INTO THE CAPTURE RATE / DEMAND MODELS Fayetteville, NY Primary Market Area Total Percent Planned/ 1 Project Name Units Weight Occupied Vacant Announced Units With Pricing That Is 2 Lower Than Subject Community None 0 70 % 0 0 0 Total Units Requiring Qualifying Incomes Lower 0 0 0 0 Than the Minimum 2 Threshold Assumed Herein Units With Pricing That Is Comparable To Or Higher Than Number of Units Factored Into the 3 The Subject Community Capture Rate/Demand Model Brookdale Fayetteville 46 70 % 32 0 0 The Nottingham - Borer 20 70 14 0 0 FACTORED INTO THE CAPTURE RATE / DEMAND MODELS Fayetteville, NY Primary Market Area Total Percent Planned/ 1 Project Name Units Weight Occupied Vacant Announced Units With Pricing That Is 2 Lower Than Subject Community None 0 70 % 0 0 0 Total Units Requiring Qualifying Incomes Lower 0 0 0 0 Than the Minimum 2 Threshold Assumed Herein Units With Pricing That Is Comparable To Or Higher Than Number of Units Factored Into the 3 The Subject Community Capture Rate/Demand Model Brookdale Fayetteville 46 70 % 32 0 0 The Nottingham - Borer 20 70 14 0 0 Total Units Backed Out (Subtracted) After the 66 46 0 0 3 Income Screen Total Units Backed Out (Subtracted) After the 66 46 0 0 3 Income Screen 0 Vacant/Planned Units @ 93% Occupancy = 0 Units X 70% absorption from the PMA = 0 Units 1 Percent of units estimated to be filled with households residing in the Primary Market Area. 2 It is assumed that these households have already been excluded from the pool of prospects through the income screenin 3 The minimum cash flow income required to pay the monthly service fees is $95,000 or more. High B-1 0 Vacant/Planned Units @ 93% Occupancy = 0 Units X 70% absorption from the PMA = 0 Units 1 Percent of units estimated to be filled with households residing in the Primary Market Area. 2 It is assumed that these households have already been excluded from the pool of prospects through the income screenin 3 The minimum cash flow income required to pay the monthly service fees is $95,000 or more. High B-1 EXHIBIT B-2 EXHIBIT B-2 SUMMARY OF COMPETITIVE ASSISTED LIVING UNITS SUMMARY OF COMPETITIVE ASSISTED LIVING UNITS FACTORED INTO THE CAPTURE RATE / DEMAND MODELS Fayetteville, NY Primary Market Area Total Percent Planned/ Project Name Units Weight 1 Occupied Vacant Announced Units With Pricing That Is Lower Than Subject Community 2 None 0 70 % 0 0 0 Total Units Requiring Qualifying Incomes Lower 0 0 0 0 Than the Minimum Threshold Assumed Herein 2 FACTORED INTO THE CAPTURE RATE / DEMAND MODELS Fayetteville, NY Primary Market Area Total Percent Planned/ Project Name Units Weight 1 Occupied Vacant Announced Units With Pricing That Is Lower Than Subject Community 2 None 0 70 % 0 0 0 Total Units Requiring Qualifying Incomes Lower 0 0 0 0 Than the Minimum Threshold Assumed Herein 2 Units With Pricing That Is Comparable To Or Higher Than Number of Units Factored Into the The Subject Community 3 Capture Rate/Demand Model Brookdale East Side 79 70 % 55 0 0 Brookdale Manlius 79 70 55 0 0 Manlius Home for Adults 40 70 28 0 0 The Inn at Menorah Park 52 70 36 0 0 The Nottingham 48 70 34 0 0 Total Units Backed Out (Subtracted) After the 298 209 0 0 Income Screen 3 Units With Pricing That Is Comparable To Or Higher Than Number of Units Factored Into the The Subject Community 3 Capture Rate/Demand Model Brookdale East Side 79 70 % 55 0 0 Brookdale Manlius 79 70 55 0 0 Manlius Home for Adults 40 70 28 0 0 The Inn at Menorah Park 52 70 36 0 0 The Nottingham 48 70 34 0 0 Total Units Backed Out (Subtracted) After the 298 209 0 0 Income Screen 3 0 Vacant/Planned Units @ 93% Occupancy = 0 Units X 70% absorption from the PMA = 0 Units 1 Percent of units estimated to be filled with households residing in the Primary Market Area. 2 It is assumed that these households have already been excluded from the pool of prospects through the income screening. 3 The minimum cash flow income required to pay the monthly service fees is $95,000 or more. High B-2 0 Vacant/Planned Units @ 93% Occupancy = 0 Units X 70% absorption from the PMA = 0 Units 1 Percent of units estimated to be filled with households residing in the Primary Market Area. 2 It is assumed that these households have already been excluded from the pool of prospects through the income screening. 3 The minimum cash flow income required to pay the monthly service fees is $95,000 or more. High B-2 ACQUIRED FROM CLARITAS MDS RESEARCH COMPANY, INC. P O Box 100578 ! Fort Worth, TX 76185 ! 817-731-4266 ! 817-738-2031 Fax www.m-d-s.com ! mdsresearch@m-d-s.com Pop-Facts: Household Income by Study Area: Fayetteville NY - PMA Age of Householder Age Age Age Age Age Age Age Age Total 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ 2000 Census Age/Income 4,037 9,106 12,377 11,327 7,388 6,721 5,451 1,692 58,099 Household Totals % Of Total Households 6.95% 15.67% 21.30% 19.50% 12.72% 11.57% 9.38% 2.91% 100.00% Income Less than $15,000 1,843 1,709 1,390 1,299 1,105 1,348 1,579 585 10,858 % Across Age Ranges 16.97% 15.74% 12.80% 11.96% 10.18% 12.41% 14.54% 5.39% 100.00% % Within Age Ranges 45.65% 18.77% 11.23% 11.47% 14.96% 20.06% 28.97% 34.57% 18.69% Income $15,000 to $24,999 1,033 1,481 1,365 860 839 1,391 1,249 359 8,577 % Across Age Ranges 12.04% 17.27% 15.91% 10.03% 9.78% 16.22% 14.56% 4.19% 100.00% % Within Age Ranges 25.59% 16.26% 11.03% 7.59% 11.36% 20.70% 22.91% 21.22% 14.76% Income $25,000 to $34,999 456 1,413 1,460 994 706 992 882 221 7,124 % Across Age Ranges 6.40% 19.83% 20.49% 13.95% 9.91% 13.92% 12.38% 3.10% 100.00% % Within Age Ranges 11.30% 15.52% 11.80% 8.78% 9.56% 14.76% 16.18% 13.06% 12.26% Income $35,000 to $49,999 301 1,687 2,248 1,526 1,063 1,079 764 174 8,842 % Across Age Ranges 3.40% 19.08% 25.42% 17.26% 12.02% 12.20% 8.64% 1.97% 100.00% % Within Age Ranges 7.46% 18.53% 18.16% 13.47% 14.39% 16.05% 14.02% 10.28% 15.22% Income $50,000 to $74,999 181 1,576 2,895 2,232 1,308 1,095 527 109 9,923 % Across Age Ranges 1.82% 15.88% 29.17% 22.49% 13.18% 11.03% 5.31% 1.10% 100.00% % Within Age Ranges 4.48% 17.31% 23.39% 19.71% 17.70% 16.29% 9.67% 6.44% 17.08% Income $75,000 to $99,999 24 709 1,470 1,531 776 394 226 43 5,173 Income $75,000 to $99,999 0.46% 13.71% 28.42% 29.60% 15.00% 7.62% 4.37% 0.83% 100.00% % Within Age Ranges 0.59% 7.79% 11.88% 13.52% 10.50% 5.86% 4.15% 2.54% 8.90% Income $100,000 to $124,999 4 335 734 1,067 500 255 121 21 3,037 % Across Age Ranges 0.13% 11.03% 24.17% 35.13% 16.46% 8.40% 3.98% 0.69% 100.00% % Within Age Ranges 0.10% 3.68% 5.93% 9.42% 6.77% 3.79% 2.22% 1.24% 5.23% Income $125,000 to $149,999 12 104 323 548 269 174 76 24 1,530 % Across Age Ranges 0.78% 6.80% 21.11% 35.82% 17.58% 11.37% 4.97% 1.57% 100.00% % Within Age Ranges 0.30% 1.14% 2.61% 4.84% 3.64% 2.59% 1.39% 1.42% 2.63% Income $150,000 to $199,999 - 78 379 484 285 150 36 8 1,420 % Across Age Ranges 0.00% 5.49% 26.69% 34.08% 20.07% 10.56% 2.54% 0.56% 100.00% % Within Age Ranges 0.00% 0.86% 3.06% 4.27% 3.86% 2.23% 0.66% 0.47% 2.44% Income $200,000 or more - 53 287 539 371 97 98 14 1,459 % Across Age Ranges 0.00% 3.63% 19.67% 36.94% 25.43% 6.65% 6.72% 0.96% 100.00% % Within Age Ranges 0.00% 0.58% 2.32% 4.76% 5.02% 1.44% 1.80% 0.83% 2.51% Median Household Income* $ 15,721 $ 34,769 $ 48,678 $ 58,974 $ 48,461 $ 32,271 $ 24,567 $ 20,105 $ 38,744 Copyright © Claritas, LLC 2021. All rights reserved. ACQUIRED FROM CLARITAS MDS RESEARCH COMPANY, INC. P O Box 100578 ! Fort Worth, TX 76185 ! 817-731-4266 ! 817-738-2031 Fax www.m-d-s.com ! mdsresearch@m-d-s.com Pop-Facts: Household Income by Study Area: Fayetteville NY - PMA Age of Householder Age Age Age Age Age Age Age Age Total 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ 2000 Census Age/Income 4,037 9,106 12,377 11,327 7,388 6,721 5,451 1,692 58,099 Household Totals % Of Total Households 6.95% 15.67% 21.30% 19.50% 12.72% 11.57% 9.38% 2.91% 100.00% Income Less than $15,000 1,843 1,709 1,390 1,299 1,105 1,348 1,579 585 10,858 % Across Age Ranges 16.97% 15.74% 12.80% 11.96% 10.18% 12.41% 14.54% 5.39% 100.00% % Within Age Ranges 45.65% 18.77% 11.23% 11.47% 14.96% 20.06% 28.97% 34.57% 18.69% Income $15,000 to $24,999 1,033 1,481 1,365 860 839 1,391 1,249 359 8,577 % Across Age Ranges 12.04% 17.27% 15.91% 10.03% 9.78% 16.22% 14.56% 4.19% 100.00% % Within Age Ranges 25.59% 16.26% 11.03% 7.59% 11.36% 20.70% 22.91% 21.22% 14.76% Income $25,000 to $34,999 456 1,413 1,460 994 706 992 882 221 7,124 % Across Age Ranges 6.40% 19.83% 20.49% 13.95% 9.91% 13.92% 12.38% 3.10% 100.00% % Within Age Ranges 11.30% 15.52% 11.80% 8.78% 9.56% 14.76% 16.18% 13.06% 12.26% Income $35,000 to $49,999 301 1,687 2,248 1,526 1,063 1,079 764 174 8,842 % Across Age Ranges 3.40% 19.08% 25.42% 17.26% 12.02% 12.20% 8.64% 1.97% 100.00% % Within Age Ranges 7.46% 18.53% 18.16% 13.47% 14.39% 16.05% 14.02% 10.28% 15.22% Income $50,000 to $74,999 181 1,576 2,895 2,232 1,308 1,095 527 109 9,923 % Across Age Ranges 1.82% 15.88% 29.17% 22.49% 13.18% 11.03% 5.31% 1.10% 100.00% % Within Age Ranges 4.48% 17.31% 23.39% 19.71% 17.70% 16.29% 9.67% 6.44% 17.08% Income $75,000 to $99,999 24 709 1,470 1,531 776 394 226 43 5,173 Income $75,000 to $99,999 0.46% 13.71% 28.42% 29.60% 15.00% 7.62% 4.37% 0.83% 100.00% % Within Age Ranges 0.59% 7.79% 11.88% 13.52% 10.50% 5.86% 4.15% 2.54% 8.90% Income $100,000 to $124,999 4 335 734 1,067 500 255 121 21 3,037 % Across Age Ranges 0.13% 11.03% 24.17% 35.13% 16.46% 8.40% 3.98% 0.69% 100.00% % Within Age Ranges 0.10% 3.68% 5.93% 9.42% 6.77% 3.79% 2.22% 1.24% 5.23% Income $125,000 to $149,999 12 104 323 548 269 174 76 24 1,530 % Across Age Ranges 0.78% 6.80% 21.11% 35.82% 17.58% 11.37% 4.97% 1.57% 100.00% % Within Age Ranges 0.30% 1.14% 2.61% 4.84% 3.64% 2.59% 1.39% 1.42% 2.63% Income $150,000 to $199,999 - 78 379 484 285 150 36 8 1,420 % Across Age Ranges 0.00% 5.49% 26.69% 34.08% 20.07% 10.56% 2.54% 0.56% 100.00% % Within Age Ranges 0.00% 0.86% 3.06% 4.27% 3.86% 2.23% 0.66% 0.47% 2.44% Income $200,000 or more - 53 287 539 371 97 98 14 1,459 % Across Age Ranges 0.00% 3.63% 19.67% 36.94% 25.43% 6.65% 6.72% 0.96% 100.00% % Within Age Ranges 0.00% 0.58% 2.32% 4.76% 5.02% 1.44% 1.80% 0.83% 2.51% Median Household Income* $ 15,721 $ 34,769 $ 48,678 $ 58,974 $ 48,461 $ 32,271 $ 24,567 $ 20,105 $ 38,744 Copyright © Claritas, LLC 2021. All rights reserved. Pop-Facts: Household Income Study Area: Fayetteville NY - PMA by Age of Householder Age Age Age Age Age Age Age Age Total 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ 2022 Estimate Age/Income 3,397 8,578 10,046 9,516 12,136 10,014 5,031 2,625 61,343 Household Totals % Of Total Households 5.54% 13.98% 16.38% 15.51% 19.78% 16.32% 8.20% 4.28% 100.00% Income Less than $15,000 1,200 965 975 643 1,247 999 678 502 7,209 % Across Age Ranges 16.65% 13.39% 13.52% 8.92% 17.30% 13.86% 9.40% 6.96% 100.00% % Within Age Ranges 35.33% 11.25% 9.71% 6.76% 10.28% 9.98% 13.48% 19.12% 11.75% Income $15,000 to $24,999 657 708 772 485 810 896 725 519 5,572 % Across Age Ranges 11.79% 12.71% 13.85% 8.70% 14.54% 16.08% 13.01% 9.31% 100.00% % Within Age Ranges 19.34% 8.25% 7.68% 5.10% 6.67% 8.95% 14.41% 19.77% 9.08% Income $25,000 to $34,999 425 633 564 455 613 864 628 353 4,535 % Across Age Ranges 9.37% 13.96% 12.44% 10.03% 13.52% 19.05% 13.85% 7.78% 100.00% % Within Age Ranges 12.51% 7.38% 5.61% 4.78% 5.05% 8.63% 12.48% 13.45% 7.39% Income $35,000 to $49,999 404 1,129 1,142 1,057 1,466 1,235 735 358 7,526 % Across Age Ranges 5.37% 15.00% 15.17% 14.04% 19.48% 16.41% 9.77% 4.76% 100.00% % Within Age Ranges 11.89% 13.16% 11.37% 11.11% 12.08% 12.33% 14.61% 13.64% 12.27% Income $50,000 to $74,999 530 1,841 1,758 1,465 1,808 1,713 853 367 10,335 % Across Age Ranges 5.13% 17.81% 17.01% 14.18% 17.49% 16.57% 8.25% 3.55% 100.00% % Within Age Ranges 15.60% 21.46% 17.50% 15.40% 14.90% 17.11% 16.95% 13.98% 16.85% Income $75,000 to $99,999 114 1,251 1,486 1,161 1,367 1,286 476 237 7,378 % Across Age Ranges 1.55% 16.96% 20.14% 15.74% 18.53% 17.43% 6.45% 3.21% 100.00% % Within Age Ranges 3.36% 14.58% 14.79% 12.20% 11.26% 12.84% 9.46% 9.03% 12.03% Income $100,000 to $124,999 34 731 1,075 1,125 1,157 778 280 85 5,265 % Across Age Ranges 0.65% 13.88% 20.42% 21.37% 21.98% 14.78% 5.32% 1.61% 100.00% % Within Age Ranges 1.00% 8.52% 10.70% 11.82% 9.53% 7.77% 5.57% 3.24% 8.58% Income $125,000 to $149,999 19 526 790 799 931 385 145 45 3,640 % Across Age Ranges 0.52% 14.45% 21.70% 21.95% 25.58% 10.58% 3.98% 1.24% 100.00% % Within Age Ranges 0.56% 6.13% 7.86% 8.40% 7.67% 3.84% 2.88% 1.71% 5.93% Income $150,000 to $199,999 4 332 547 896 1,001 917 264 79 4,040 % Across Age Ranges 0.10% 8.22% 13.54% 22.18% 24.78% 22.70% 6.53% 1.96% 100.00% % Within Age Ranges 0.12% 3.87% 5.44% 9.42% 8.25% 9.16% 5.25% 3.01% 6.59% Income $200,000 or more 10 462 937 1,430 1,736 941 247 80 5,843 % Across Age Ranges 0.17% 7.91% 16.04% 24.47% 29.71% 16.10% 4.23% 1.37% 100.00% % Within Age Ranges 0.29% 5.39% 9.33% 15.03% 14.30% 9.40% 4.91% 3.05% 9.53% Median Household Income* 22,293 61,087 72,148 88,649 77,017 64,013 44,418 33,005 63,236 Copyright © Claritas, LLC 2021. All rights reserved. Pop-Facts: Household Income Study Area: Fayetteville NY - PMA by Age of Householder Age Age Age Age Age Age Age Age Total 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ 2022 Estimate Age/Income 3,397 8,578 10,046 9,516 12,136 10,014 5,031 2,625 61,343 Household Totals % Of Total Households 5.54% 13.98% 16.38% 15.51% 19.78% 16.32% 8.20% 4.28% 100.00% Income Less than $15,000 1,200 965 975 643 1,247 999 678 502 7,209 % Across Age Ranges 16.65% 13.39% 13.52% 8.92% 17.30% 13.86% 9.40% 6.96% 100.00% % Within Age Ranges 35.33% 11.25% 9.71% 6.76% 10.28% 9.98% 13.48% 19.12% 11.75% Income $15,000 to $24,999 657 708 772 485 810 896 725 519 5,572 % Across Age Ranges 11.79% 12.71% 13.85% 8.70% 14.54% 16.08% 13.01% 9.31% 100.00% % Within Age Ranges 19.34% 8.25% 7.68% 5.10% 6.67% 8.95% 14.41% 19.77% 9.08% Income $25,000 to $34,999 425 633 564 455 613 864 628 353 4,535 % Across Age Ranges 9.37% 13.96% 12.44% 10.03% 13.52% 19.05% 13.85% 7.78% 100.00% % Within Age Ranges 12.51% 7.38% 5.61% 4.78% 5.05% 8.63% 12.48% 13.45% 7.39% Income $35,000 to $49,999 404 1,129 1,142 1,057 1,466 1,235 735 358 7,526 % Across Age Ranges 5.37% 15.00% 15.17% 14.04% 19.48% 16.41% 9.77% 4.76% 100.00% % Within Age Ranges 11.89% 13.16% 11.37% 11.11% 12.08% 12.33% 14.61% 13.64% 12.27% Income $50,000 to $74,999 530 1,841 1,758 1,465 1,808 1,713 853 367 10,335 % Across Age Ranges 5.13% 17.81% 17.01% 14.18% 17.49% 16.57% 8.25% 3.55% 100.00% % Within Age Ranges 15.60% 21.46% 17.50% 15.40% 14.90% 17.11% 16.95% 13.98% 16.85% Income $75,000 to $99,999 114 1,251 1,486 1,161 1,367 1,286 476 237 7,378 % Across Age Ranges 1.55% 16.96% 20.14% 15.74% 18.53% 17.43% 6.45% 3.21% 100.00% % Within Age Ranges 3.36% 14.58% 14.79% 12.20% 11.26% 12.84% 9.46% 9.03% 12.03% Income $100,000 to $124,999 34 731 1,075 1,125 1,157 778 280 85 5,265 % Across Age Ranges 0.65% 13.88% 20.42% 21.37% 21.98% 14.78% 5.32% 1.61% 100.00% % Within Age Ranges 1.00% 8.52% 10.70% 11.82% 9.53% 7.77% 5.57% 3.24% 8.58% Income $125,000 to $149,999 19 526 790 799 931 385 145 45 3,640 % Across Age Ranges 0.52% 14.45% 21.70% 21.95% 25.58% 10.58% 3.98% 1.24% 100.00% % Within Age Ranges 0.56% 6.13% 7.86% 8.40% 7.67% 3.84% 2.88% 1.71% 5.93% Income $150,000 to $199,999 4 332 547 896 1,001 917 264 79 4,040 % Across Age Ranges 0.10% 8.22% 13.54% 22.18% 24.78% 22.70% 6.53% 1.96% 100.00% % Within Age Ranges 0.12% 3.87% 5.44% 9.42% 8.25% 9.16% 5.25% 3.01% 6.59% Income $200,000 or more 10 462 937 1,430 1,736 941 247 80 5,843 % Across Age Ranges 0.17% 7.91% 16.04% 24.47% 29.71% 16.10% 4.23% 1.37% 100.00% % Within Age Ranges 0.29% 5.39% 9.33% 15.03% 14.30% 9.40% 4.91% 3.05% 9.53% Median Household Income* 22,293 61,087 72,148 88,649 77,017 64,013 44,418 33,005 63,236 Copyright © Claritas, LLC 2021. All rights reserved. Pop-Facts: Household Income by Study Area: Fayetteville NY - PMA Age of Householder Age Age Age Age Age Age Age Age Total 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ 2027 Projection Age/Income 3,334 8,288 11,006 9,681 11,669 12,275 5,476 2,790 64,519 Household Totals % Of Total Households 5.17% 12.85% 17.06% 15.00% 18.09% 19.03% 8.49% 4.32% 100.00% Income Less than $15,000 1,165 878 941 569 999 1,113 700 506 6,871 % Across Age Ranges 16.96% 12.78% 13.70% 8.28% 14.54% 16.20% 10.19% 7.36% 100.00% % Within Age Ranges 34.94% 10.59% 8.55% 5.88% 8.56% 9.07% 12.78% 18.14% 10.65% Income $15,000 to $24,999 610 623 750 442 683 994 740 535 5,377 % Across Age Ranges 11.34% 11.59% 13.95% 8.22% 12.70% 18.49% 13.76% 9.95% 100.00% % Within Age Ranges 18.30% 7.52% 6.81% 4.57% 5.85% 8.10% 13.51% 19.18% 8.33% Income $25,000 to $34,999 420 575 555 432 512 1,002 662 363 4,521 % Across Age Ranges 9.29% 12.72% 12.28% 9.56% 11.32% 22.16% 14.64% 8.03% 100.00% % Within Age Ranges 12.60% 6.94% 5.04% 4.46% 4.39% 8.16% 12.09% 13.01% 7.01% Income $35,000 to $49,999 405 987 1,109 931 1,279 1,444 760 367 7,282 % Across Age Ranges 5.56% 13.55% 15.23% 12.78% 17.56% 19.83% 10.44% 5.04% 100.00% % Within Age Ranges 12.15% 11.91% 10.08% 9.62% 10.96% 11.76% 13.88% 13.15% 11.29% Income $50,000 to $74,999 530 1,750 1,840 1,386 1,649 1,978 907 366 10,406 % Across Age Ranges 5.09% 16.82% 17.68% 13.32% 15.85% 19.01% 8.72% 3.52% 100.00% % Within Age Ranges 15.90% 21.11% 16.72% 14.32% 14.13% 16.11% 16.56% 13.12% 16.13% Income $75,000 to $99,999 121 1,180 1,589 1,169 1,298 1,549 528 263 7,697 % Across Age Ranges 1.57% 15.33% 20.64% 15.19% 16.86% 20.12% 6.86% 3.42% 100.00% % Within Age Ranges 3.63% 14.24% 14.44% 12.08% 11.12% 12.62% 9.64% 9.43% 11.93% Income $100,000 to $124,999 38 761 1,221 1,204 1,156 998 332 109 5,819 % Across Age Ranges 0.65% 13.08% 20.98% 20.69% 19.87% 17.15% 5.71% 1.87% 100.00% % Within Age Ranges 1.14% 9.18% 11.09% 12.44% 9.91% 8.13% 6.06% 3.91% 9.02% Income $125,000 to $149,999 23 579 964 918 991 503 175 64 4,217 % Across Age Ranges 0.55% 13.73% 22.86% 21.77% 23.50% 11.93% 4.15% 1.52% 100.00% % Within Age Ranges 0.69% 6.99% 8.76% 9.48% 8.49% 4.10% 3.20% 2.29% 6.54% Income $150,000 to $199,999 12 373 32,624 990 1,036 1,223 315 97 36,670 % Across Age Ranges 0.03% 1.02% 88.97% 2.70% 2.83% 3.34% 0.86% 0.26% 100.00% % Within Age Ranges 0.36% 4.50% 296.42% 10.23% 8.88% 9.96% 5.75% 3.48% 56.84% Income $200,000 or more 10 582 1,329 1,640 2,066 1,471 357 120 7,575 % Across Age Ranges 0.13% 7.68% 17.54% 21.65% 27.27% 19.42% 4.71% 1.58% 100.00% % Within Age Ranges 0.30% 7.02% 12.08% 16.94% 17.71% 11.98% 6.52% 4.30% 11.74% Median Household Income* $ 23,001 $ 64,943 $ 79,509 $ 98,083 $ 88,155 $ 69,530 $ 47,267 $ 34,709 $ 69,174 Copyright © Claritas, LLC 2021. All rights reserved. Pop-Facts: Household Income by Study Area: Fayetteville NY - PMA Age of Householder Age Age Age Age Age Age Age Age Total 15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ 2027 Projection Age/Income 3,334 8,288 11,006 9,681 11,669 12,275 5,476 2,790 64,519 Household Totals % Of Total Households 5.17% 12.85% 17.06% 15.00% 18.09% 19.03% 8.49% 4.32% 100.00% Income Less than $15,000 1,165 878 941 569 999 1,113 700 506 6,871 % Across Age Ranges 16.96% 12.78% 13.70% 8.28% 14.54% 16.20% 10.19% 7.36% 100.00% % Within Age Ranges 34.94% 10.59% 8.55% 5.88% 8.56% 9.07% 12.78% 18.14% 10.65% Income $15,000 to $24,999 610 623 750 442 683 994 740 535 5,377 % Across Age Ranges 11.34% 11.59% 13.95% 8.22% 12.70% 18.49% 13.76% 9.95% 100.00% % Within Age Ranges 18.30% 7.52% 6.81% 4.57% 5.85% 8.10% 13.51% 19.18% 8.33% Income $25,000 to $34,999 420 575 555 432 512 1,002 662 363 4,521 % Across Age Ranges 9.29% 12.72% 12.28% 9.56% 11.32% 22.16% 14.64% 8.03% 100.00% % Within Age Ranges 12.60% 6.94% 5.04% 4.46% 4.39% 8.16% 12.09% 13.01% 7.01% Income $35,000 to $49,999 405 987 1,109 931 1,279 1,444 760 367 7,282 % Across Age Ranges 5.56% 13.55% 15.23% 12.78% 17.56% 19.83% 10.44% 5.04% 100.00% % Within Age Ranges 12.15% 11.91% 10.08% 9.62% 10.96% 11.76% 13.88% 13.15% 11.29% Income $50,000 to $74,999 530 1,750 1,840 1,386 1,649 1,978 907 366 10,406 % Across Age Ranges 5.09% 16.82% 17.68% 13.32% 15.85% 19.01% 8.72% 3.52% 100.00% % Within Age Ranges 15.90% 21.11% 16.72% 14.32% 14.13% 16.11% 16.56% 13.12% 16.13% Income $75,000 to $99,999 121 1,180 1,589 1,169 1,298 1,549 528 263 7,697 % Across Age Ranges 1.57% 15.33% 20.64% 15.19% 16.86% 20.12% 6.86% 3.42% 100.00% % Within Age Ranges 3.63% 14.24% 14.44% 12.08% 11.12% 12.62% 9.64% 9.43% 11.93% Income $100,000 to $124,999 38 761 1,221 1,204 1,156 998 332 109 5,819 % Across Age Ranges 0.65% 13.08% 20.98% 20.69% 19.87% 17.15% 5.71% 1.87% 100.00% % Within Age Ranges 1.14% 9.18% 11.09% 12.44% 9.91% 8.13% 6.06% 3.91% 9.02% Income $125,000 to $149,999 23 579 964 918 991 503 175 64 4,217 % Across Age Ranges 0.55% 13.73% 22.86% 21.77% 23.50% 11.93% 4.15% 1.52% 100.00% % Within Age Ranges 0.69% 6.99% 8.76% 9.48% 8.49% 4.10% 3.20% 2.29% 6.54% Income $150,000 to $199,999 12 373 32,624 990 1,036 1,223 315 97 36,670 % Across Age Ranges 0.03% 1.02% 88.97% 2.70% 2.83% 3.34% 0.86% 0.26% 100.00% % Within Age Ranges 0.36% 4.50% 296.42% 10.23% 8.88% 9.96% 5.75% 3.48% 56.84% Income $200,000 or more 10 582 1,329 1,640 2,066 1,471 357 120 7,575 % Across Age Ranges 0.13% 7.68% 17.54% 21.65% 27.27% 19.42% 4.71% 1.58% 100.00% % Within Age Ranges 0.30% 7.02% 12.08% 16.94% 17.71% 11.98% 6.52% 4.30% 11.74% Median Household Income* $ 23,001 $ 64,943 $ 79,509 $ 98,083 $ 88,155 $ 69,530 $ 47,267 $ 34,709 $ 69,174 Copyright © Claritas, LLC 2021. All rights reserved. Pop-Facts® Senior Life Demographics | Summary Study Area: Fayetteville NY - PMA Population 2000 Census 144,676 2010 Census 147,532 2022 Estimate 149,666 2027 Projection 156,366 Population Change (%) Growth 2000 - 2010 1.97 Growth 2010 - 2022 1.45 Growth 2022 - 2027 4.48 Pop-Facts® Senior Life Demographics | Summary Study Area: Fayetteville NY - PMA Population 2000 Census 144,676 2010 Census 147,532 2022 Estimate 149,666 2027 Projection 156,366 Population Change (%) Growth 2000 - 2010 1.97 Growth 2010 - 2022 1.45 Growth 2022 - 2027 4.48 Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. (https://en.environicsanalytics.ca/Envision/About/3/2022) Pop-Facts® Senior Life Demographics | Population & Race Study Area: Fayetteville NY - PMA 2000*/2010** 2022 2027 Census % Estimate % Projection % Total Population** Total Population 147,532 100.00 149,666 100.00 156,366 100.00 Age 45 - 54 21,579 14.63 16,254 10.86 16,407 10.49 Age 55 - 64 17,276 11.71 19,929 13.32 19,262 12.32 Age 65 - 74 9,727 6.59 15,739 10.52 19,360 12.38 Age 75 - 84 7,187 4.87 7,570 5.06 8,237 5.27 Age 85 and over 3,558 2.41 3,912 2.61 4,171 2.67 Age 65 and over 20,472 13.88 27,221 18.19 31,768 20.32 Age 80 and over 6,955 4.71 7,020 4.69 7,394 4.73 Population by Single - Classification Race** White Alone 115,304 78.16 109,867 73.41 111,731 71.45 White Alone: Age 65 and over 18,642 16.17 23,997 21.84 27,563 24.67 Black/African American Alone 17,034 11.55 19,633 13.12 21,468 13.73 Black/African American Alone: Age 65 and over 1,137 6.67 1,807 9.20 2,247 10.47 American Indian/Alaskan Native Alone 991 0.67 1,066 0.71 1,137 0.73 American Indian/Alaskan Native Alone: Age 65 and over 86 8.68 116 10.88 141 12.40 Asian Alone 7,876 5.34 10,358 6.92 11,871 7.59 Asian Alone: Age 65 and over 432 5.49 922 8.90 1,273 10.72 Native Hawaiian/Pacific Islander Alone 45 0.03 61 0.04 74 0.05 Native Hawaiian/Pacific Islander Alone: Age 65 and over 5 11.11 11 18.03 10 13.51 Some Other Race Alone 1,633 1.11 2,341 1.56 2,757 1.76 Some Other Race Alone: Age 65 and over 44 2.69 95 4.06 149 5.40 Two or More Races 4,649 3.15 6,340 4.24 7,328 4.69 Two or More Races: Age 65 and over 122 2.62 265 4.18 378 5.16 Population by Hispanic or Latino** Hispanic/Latino 5,861 3.97 8,519 5.69 10,027 6.41 Hispanic/Latino: Age 65 and over 196 3.34 415 4.87 640 6.38 Not Hispanic/Latino 141,671 96.03 141,147 94.31 146,339 93.59 Total Population, Male** Total Population, Male 70,956 48.09 72,129 48.19 75,512 48.29 Male: Age 45 - 54 10,427 14.70 7,777 10.78 7,884 10.44 Male: Age 55 - 64 8,267 11.65 9,481 13.14 9,076 12.02 Male: Age 65 - 74 4,350 6.13 7,310 10.13 9,018 11.94 Male: Age 75 - 84 2,901 4.09 3,213 4.46 3,543 4.69 Male: Age 85 and over 1,188 1.67 1,376 1.91 1,505 1.99 Male: Age 65 and over 8,439 11.89 11,899 16.50 14,066 18.63 Male: Age 80 and over 2,485 1.68 2,648 1.77 2,839 1.82 Total Population, Female** Total Population, Female 76,576 51.91 77,537 51.81 80,854 51.71 Female: Age 45 - 54 11,152 14.56 8,477 10.93 8,523 10.54 Female: Age 55 - 64 9,009 11.77 10,448 13.47 10,186 12.60 Female: Age 65 - 74 5,377 7.02 8,429 10.87 10,342 12.79 Female: Age 75 - 84 4,286 5.60 4,357 5.62 4,694 5.81 Female: Age 85 and over 2,370 3.10 2,536 3.27 2,666 3.30 Female: Age 65 and over 12,033 15.71 15,322 19.76 17,702 21.89 Female: Age 80 and over 4,470 3.03 4,372 2.92 4,555 2.91 Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. (https://en.environicsanalytics.ca/Envision/About/3/2022) Pop-Facts® Senior Life Demographics | Population & Race Study Area: Fayetteville NY - PMA 2000*/2010** 2022 2027 Census % Estimate % Projection % Total Population** Total Population 147,532 100.00 149,666 100.00 156,366 100.00 Age 45 - 54 21,579 14.63 16,254 10.86 16,407 10.49 Age 55 - 64 17,276 11.71 19,929 13.32 19,262 12.32 Age 65 - 74 9,727 6.59 15,739 10.52 19,360 12.38 Age 75 - 84 7,187 4.87 7,570 5.06 8,237 5.27 Age 85 and over 3,558 2.41 3,912 2.61 4,171 2.67 Age 65 and over 20,472 13.88 27,221 18.19 31,768 20.32 Age 80 and over 6,955 4.71 7,020 4.69 7,394 4.73 Population by Single - Classification Race** White Alone 115,304 78.16 109,867 73.41 111,731 71.45 White Alone: Age 65 and over 18,642 16.17 23,997 21.84 27,563 24.67 Black/African American Alone 17,034 11.55 19,633 13.12 21,468 13.73 Black/African American Alone: Age 65 and over 1,137 6.67 1,807 9.20 2,247 10.47 American Indian/Alaskan Native Alone 991 0.67 1,066 0.71 1,137 0.73 American Indian/Alaskan Native Alone: Age 65 and over 86 8.68 116 10.88 141 12.40 Asian Alone 7,876 5.34 10,358 6.92 11,871 7.59 Asian Alone: Age 65 and over 432 5.49 922 8.90 1,273 10.72 Native Hawaiian/Pacific Islander Alone 45 0.03 61 0.04 74 0.05 Native Hawaiian/Pacific Islander Alone: Age 65 and over 5 11.11 11 18.03 10 13.51 Some Other Race Alone 1,633 1.11 2,341 1.56 2,757 1.76 Some Other Race Alone: Age 65 and over 44 2.69 95 4.06 149 5.40 Two or More Races 4,649 3.15 6,340 4.24 7,328 4.69 Two or More Races: Age 65 and over 122 2.62 265 4.18 378 5.16 Population by Hispanic or Latino** Hispanic/Latino 5,861 3.97 8,519 5.69 10,027 6.41 Hispanic/Latino: Age 65 and over 196 3.34 415 4.87 640 6.38 Not Hispanic/Latino 141,671 96.03 141,147 94.31 146,339 93.59 Total Population, Male** Total Population, Male 70,956 48.09 72,129 48.19 75,512 48.29 Male: Age 45 - 54 10,427 14.70 7,777 10.78 7,884 10.44 Male: Age 55 - 64 8,267 11.65 9,481 13.14 9,076 12.02 Male: Age 65 - 74 4,350 6.13 7,310 10.13 9,018 11.94 Male: Age 75 - 84 2,901 4.09 3,213 4.46 3,543 4.69 Male: Age 85 and over 1,188 1.67 1,376 1.91 1,505 1.99 Male: Age 65 and over 8,439 11.89 11,899 16.50 14,066 18.63 Male: Age 80 and over 2,485 1.68 2,648 1.77 2,839 1.82 Total Population, Female** Total Population, Female 76,576 51.91 77,537 51.81 80,854 51.71 Female: Age 45 - 54 11,152 14.56 8,477 10.93 8,523 10.54 Female: Age 55 - 64 9,009 11.77 10,448 13.47 10,186 12.60 Female: Age 65 - 74 5,377 7.02 8,429 10.87 10,342 12.79 Female: Age 75 - 84 4,286 5.60 4,357 5.62 4,694 5.81 Female: Age 85 and over 2,370 3.10 2,536 3.27 2,666 3.30 Female: Age 65 and over 12,033 15.71 15,322 19.76 17,702 21.89 Female: Age 80 and over 4,470 3.03 4,372 2.92 4,555 2.91 Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. *2000 Census generated data/**2010 Census generated data (https://en.environicsanalytics.ca/Envision/About/3/2022) Pop-Facts® Senior Life Demographics | Household Income Study Area: Fayetteville NY - PMA 2000*/2010** 2022 2027 Census % Estimate % Projection % Householder Age 45 - 54* Householder Age 45 - 54 11,080 23.53 9,516 15.51 9,681 15.01 Income Less than $15,000 1,299 11.72 643 6.76 569 5.88 Income $15,000 - $24,999 860 7.76 485 5.10 442 4.57 Income $25,000 - $34,999 994 8.97 455 4.78 432 4.46 Income $35,000 - $49,999 1,526 13.77 1,057 11.11 931 9.62 Income $50,000 - $74,999 2,232 20.14 1,465 15.39 1,386 14.32 Income $75,000 - $99,999 1,531 13.82 1,161 12.20 1,169 12.07 Income $100,000 - $124,999 1,067 9.63 1,125 11.82 1,204 12.44 Income $125,000 - $149,999 548 4.95 799 8.40 918 9.48 Income $150,000 - $199,999 484 4.37 896 9.42 990 10.23 Income $200,000 or more 539 4.87 1,430 15.03 1,640 16.94 Median Household Income -- 58,973.89 -- 88,649.44 -- 98,082.86 Householder Age 55 - 64* Householder Age 55 - 64 7,222 15.34 12,136 19.78 11,669 18.09 Income Less than $15,000 1,105 15.30 1,247 10.28 999 8.56 Income $15,000 - $24,999 839 11.62 810 6.67 683 5.85 Income $25,000 - $34,999 706 9.78 613 5.05 512 4.39 Income $35,000 - $49,999 1,063 14.72 1,466 12.08 1,279 10.96 Income $50,000 - $74,999 1,308 18.11 1,808 14.90 1,649 14.13 Income $75,000 - $99,999 776 10.74 1,367 11.26 1,298 11.12 Income $100,000 - $124,999 500 6.92 1,157 9.53 1,156 9.91 Income $125,000 - $149,999 269 3.73 931 7.67 991 8.49 Income $150,000 - $199,999 285 3.95 1,001 8.25 1,036 8.88 Income $200,000 or more 371 5.14 1,736 14.30 2,066 17.70 Median Household Income -- 48,461.28 -- 77,016.60 -- 88,155.13 Householder Age 65 - 74* Householder Age 65 - 74 6,975 14.81 10,014 16.32 12,275 19.02 Income Less than $15,000 1,348 19.33 999 9.98 1,113 9.07 Income $15,000 - $24,999 1,391 19.94 896 8.95 994 8.10 Income $25,000 - $34,999 992 14.22 864 8.63 1,002 8.16 Income $35,000 - $49,999 1,079 15.47 1,235 12.33 1,444 11.76 Income $50,000 - $74,999 1,095 15.70 1,713 17.11 1,978 16.11 Income $75,000 - $99,999 394 5.65 1,286 12.84 1,549 12.62 Income $100,000 - $124,999 255 3.66 778 7.77 998 8.13 Income $125,000 - $149,999 174 2.50 385 3.85 503 4.10 Income $150,000 - $199,999 150 2.15 917 9.16 1,223 9.96 Income $200,000 or more 97 1.39 941 9.40 1,471 11.98 Median Household Income -- 32,271.27 -- 64,012.97 -- 69,529.54 Householder Age 75 - 84* Householder Age 75 - 84 5,558 11.80 5,031 8.20 5,476 8.49 Income Less than $15,000 1,579 28.41 678 13.48 700 12.78 Income $15,000 - $24,999 1,249 22.47 725 14.41 740 13.51 Income $25,000 - $34,999 882 15.87 628 12.48 662 12.09 Income $35,000 - $49,999 764 13.75 735 14.61 760 13.88 Income $50,000 - $74,999 527 9.48 853 16.95 907 16.56 Income $75,000 - $99,999 226 4.07 476 9.46 528 9.64 Income $100,000 - $124,999 121 2.18 280 5.57 332 6.06 Income $125,000 - $149,999 76 1.37 145 2.88 175 3.20 Income $150,000 - $199,999 36 0.65 264 5.25 315 5.75 Income $200,000 or more 98 1.76 247 4.91 357 6.52 Median Household Income -- 24,567.46 -- 44,418.22 -- 47,267.26 Householder Age 85 and over* Householder Age 85+ 1,558 3.31 2,625 4.28 2,790 4.32 Income Less than $15,000 585 37.55 502 19.12 506 18.14 Income $15,000 - $24,999 359 23.04 519 19.77 535 19.18 Income $25,000 - $34,999 221 14.19 353 13.45 363 13.01 Income $35,000 - $49,999 174 11.17 358 13.64 367 13.15 Income $50,000 - $74,999 109 7.00 367 13.98 366 13.12 Income $75,000 - $99,999 43 2.76 237 9.03 263 9.43 Income $100,000 - $124,999 21 1.35 85 3.24 109 3.91 Income $125,000 - $149,999 24 1.54 45 1.71 64 2.29 Income $150,000 - $199,999 8 0.51 79 3.01 97 3.48 Income $200,000 or more 14 0.90 80 3.05 120 4.30 Median Household Income -- 20,104.76 -- 33,004.90 -- 34,708.57 Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. *2000 Census generated data/**2010 Census generated data (https://en.environicsanalytics.ca/Envision/About/3/2022) Pop-Facts® Senior Life Demographics | Household Income Study Area: Fayetteville NY - PMA 2000*/2010** 2022 2027 Census % Estimate % Projection % Householder Age 45 - 54* Householder Age 45 - 54 11,080 23.53 9,516 15.51 9,681 15.01 Income Less than $15,000 1,299 11.72 643 6.76 569 5.88 Income $15,000 - $24,999 860 7.76 485 5.10 442 4.57 Income $25,000 - $34,999 994 8.97 455 4.78 432 4.46 Income $35,000 - $49,999 1,526 13.77 1,057 11.11 931 9.62 Income $50,000 - $74,999 2,232 20.14 1,465 15.39 1,386 14.32 Income $75,000 - $99,999 1,531 13.82 1,161 12.20 1,169 12.07 Income $100,000 - $124,999 1,067 9.63 1,125 11.82 1,204 12.44 Income $125,000 - $149,999 548 4.95 799 8.40 918 9.48 Income $150,000 - $199,999 484 4.37 896 9.42 990 10.23 Income $200,000 or more 539 4.87 1,430 15.03 1,640 16.94 Median Household Income -- 58,973.89 -- 88,649.44 -- 98,082.86 Householder Age 55 - 64* Householder Age 55 - 64 7,222 15.34 12,136 19.78 11,669 18.09 Income Less than $15,000 1,105 15.30 1,247 10.28 999 8.56 Income $15,000 - $24,999 839 11.62 810 6.67 683 5.85 Income $25,000 - $34,999 706 9.78 613 5.05 512 4.39 Income $35,000 - $49,999 1,063 14.72 1,466 12.08 1,279 10.96 Income $50,000 - $74,999 1,308 18.11 1,808 14.90 1,649 14.13 Income $75,000 - $99,999 776 10.74 1,367 11.26 1,298 11.12 Income $100,000 - $124,999 500 6.92 1,157 9.53 1,156 9.91 Income $125,000 - $149,999 269 3.73 931 7.67 991 8.49 Income $150,000 - $199,999 285 3.95 1,001 8.25 1,036 8.88 Income $200,000 or more 371 5.14 1,736 14.30 2,066 17.70 Median Household Income -- 48,461.28 -- 77,016.60 -- 88,155.13 Householder Age 65 - 74* Householder Age 65 - 74 6,975 14.81 10,014 16.32 12,275 19.02 Income Less than $15,000 1,348 19.33 999 9.98 1,113 9.07 Income $15,000 - $24,999 1,391 19.94 896 8.95 994 8.10 Income $25,000 - $34,999 992 14.22 864 8.63 1,002 8.16 Income $35,000 - $49,999 1,079 15.47 1,235 12.33 1,444 11.76 Income $50,000 - $74,999 1,095 15.70 1,713 17.11 1,978 16.11 Income $75,000 - $99,999 394 5.65 1,286 12.84 1,549 12.62 Income $100,000 - $124,999 255 3.66 778 7.77 998 8.13 Income $125,000 - $149,999 174 2.50 385 3.85 503 4.10 Income $150,000 - $199,999 150 2.15 917 9.16 1,223 9.96 Income $200,000 or more 97 1.39 941 9.40 1,471 11.98 Median Household Income -- 32,271.27 -- 64,012.97 -- 69,529.54 Householder Age 75 - 84* Householder Age 75 - 84 5,558 11.80 5,031 8.20 5,476 8.49 Income Less than $15,000 1,579 28.41 678 13.48 700 12.78 Income $15,000 - $24,999 1,249 22.47 725 14.41 740 13.51 Income $25,000 - $34,999 882 15.87 628 12.48 662 12.09 Income $35,000 - $49,999 764 13.75 735 14.61 760 13.88 Income $50,000 - $74,999 527 9.48 853 16.95 907 16.56 Income $75,000 - $99,999 226 4.07 476 9.46 528 9.64 Income $100,000 - $124,999 121 2.18 280 5.57 332 6.06 Income $125,000 - $149,999 76 1.37 145 2.88 175 3.20 Income $150,000 - $199,999 36 0.65 264 5.25 315 5.75 Income $200,000 or more 98 1.76 247 4.91 357 6.52 Median Household Income -- 24,567.46 -- 44,418.22 -- 47,267.26 Householder Age 85 and over* Householder Age 85+ 1,558 3.31 2,625 4.28 2,790 4.32 Income Less than $15,000 585 37.55 502 19.12 506 18.14 Income $15,000 - $24,999 359 23.04 519 19.77 535 19.18 Income $25,000 - $34,999 221 14.19 353 13.45 363 13.01 Income $35,000 - $49,999 174 11.17 358 13.64 367 13.15 Income $50,000 - $74,999 109 7.00 367 13.98 366 13.12 Income $75,000 - $99,999 43 2.76 237 9.03 263 9.43 Income $100,000 - $124,999 21 1.35 85 3.24 109 3.91 Income $125,000 - $149,999 24 1.54 45 1.71 64 2.29 Income $150,000 - $199,999 8 0.51 79 3.01 97 3.48 Income $200,000 or more 14 0.90 80 3.05 120 4.30 Median Household Income -- 20,104.76 -- 33,004.90 -- 34,708.57 Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. *2000 Census generated data/**2010 Census generated data (https://en.environicsanalytics.ca/Envision/About/3/2022) Pop-Facts® Senior Life Demographics | Housing & Households Study Area: Fayetteville NY - PMA Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. *2000 Census generated data/**2010 Census generated data (https://en.environicsanalytics.ca/Envision/About/3/2022) Pop-Facts® Senior Life Demographics | Housing & Households Study Area: Fayetteville NY - PMA 2000*/2010** 2022 2027 Census % Estimate % Projection % Households by Household Income* Total Households 58,099 100.00 61,343 100.00 64,519 100.00 Income Less Than $15,000 10,858 18.69 7,209 11.75 6,871 10.65 Income $15,000 - $24,999 8,577 14.76 5,572 9.08 5,377 8.33 Income $25,000 - $34,999 7,124 12.26 4,535 7.39 4,521 7.01 Income $35,000 - $49,999 8,842 15.22 7,526 12.27 7,282 11.29 Income $50,000 - $74,999 9,923 17.08 10,335 16.85 10,406 16.13 Income $75,000 - $99,999 5,173 8.90 7,378 12.03 7,697 11.93 Income $100,000 - $124,999 3,037 5.23 5,265 8.58 5,819 9.02 Income $125,000 - $149,999 1,530 2.63 3,640 5.93 4,217 6.54 Income $150,000 - $199,999 1,420 2.44 4,040 6.59 4,754 7.37 Income $200,000 - $249,999 680 1.17 2,062 3.36 2,682 4.16 Income $250,000 - $499,999 544 0.94 2,473 4.03 3,071 4.76 Income $500,000 or more 235 0.40 1,308 2.13 1,822 2.82 Average Household Income -- 55,028.35 -- 93,862.30 -- 103,489.02 Median Household Income -- 38,743.84 -- 63,236.26 -- 69,173.55 Age 55+ Median Household Income -- 32,624.38 -- 60,904.62 -- 66,749.87 Age 65+ Median Household Income -- 27,224.38 -- 52,500.60 -- 57,424.50 Owner-Occupied Housing Units by Value* Value Less Than $20,000 406 1.14 511 1.36 492 1.24 Value $20,000 - $39,999 1,111 3.11 321 0.85 314 0.79 Value $40,000 - $59,999 4,606 12.90 532 1.42 468 1.18 Value $60,000 - $79,999 10,311 28.88 1,821 4.84 1,359 3.43 Value $80,000 - $99,999 6,900 19.32 3,499 9.30 2,887 7.29 Value $100,000 - $149,999 6,691 18.74 7,866 20.92 7,949 20.07 Value $150,000 - $199,999 2,921 8.18 6,507 17.30 6,354 16.05 Value $200,000 - $299,999 1,780 4.99 8,312 22.11 9,248 23.35 Value $300,000 - $399,999 512 1.43 3,766 10.02 4,526 11.43 Value $400,000 - $499,999 218 0.61 1,971 5.24 2,516 6.35 Value $500,000 - $749,999 138 0.39 1,420 3.78 1,977 4.99 Value $750,000 - $999,999 58 0.16 541 1.44 762 1.92 Value $1,000,000+ 9 0.03 -- -- -- -- Value $1,000,000 - $1,499,999 -- 0.00 320 0.85 444 1.12 Value $1,500,000 - $1,999,999 -- 0.00 82 0.22 142 0.36 Value $2,000,000+ -- 0.00 133 0.35 164 0.41 Median All Owner-Occupied Housing Unit Value -- 83,420.16 -- 181,325.14 -- 199,808.02 Group Quarters by Population Type** Group Quarters Population 7,596 5.15 7,439 4.97 7,372 4.71 Correctional Facilities 474 6.24 470 6.32 466 6.32 Nursing Homes 774 10.19 750 10.08 742 10.06 Other Facilities 134 1.76 129 1.73 127 1.72 Juvenile Facilities 102 1.34 101 1.36 99 1.34 College Dormitories 5,408 71.19 5,295 71.18 5,246 71.16 Military Quarters 0 0.00 0 0.00 0 0.00 Other Noninstitutional Quarters 704 9.27 694 9.33 692 9.39 Occupied Housing Units by Tenure* Owner-Occupied 35,661 57.01 37,602 61.30 39,602 61.38 Renter-Occupied 22,390 35.80 23,741 38.70 24,917 38.62 2000*/2010** 2022 2027 Census % Estimate % Projection % Households by Household Income* Total Households 58,099 100.00 61,343 100.00 64,519 100.00 Income Less Than $15,000 10,858 18.69 7,209 11.75 6,871 10.65 Income $15,000 - $24,999 8,577 14.76 5,572 9.08 5,377 8.33 Income $25,000 - $34,999 7,124 12.26 4,535 7.39 4,521 7.01 Income $35,000 - $49,999 8,842 15.22 7,526 12.27 7,282 11.29 Income $50,000 - $74,999 9,923 17.08 10,335 16.85 10,406 16.13 Income $75,000 - $99,999 5,173 8.90 7,378 12.03 7,697 11.93 Income $100,000 - $124,999 3,037 5.23 5,265 8.58 5,819 9.02 Income $125,000 - $149,999 1,530 2.63 3,640 5.93 4,217 6.54 Income $150,000 - $199,999 1,420 2.44 4,040 6.59 4,754 7.37 Income $200,000 - $249,999 680 1.17 2,062 3.36 2,682 4.16 Income $250,000 - $499,999 544 0.94 2,473 4.03 3,071 4.76 Income $500,000 or more 235 0.40 1,308 2.13 1,822 2.82 Average Household Income -- 55,028.35 -- 93,862.30 -- 103,489.02 Median Household Income -- 38,743.84 -- 63,236.26 -- 69,173.55 Age 55+ Median Household Income -- 32,624.38 -- 60,904.62 -- 66,749.87 Age 65+ Median Household Income -- 27,224.38 -- 52,500.60 -- 57,424.50 Owner-Occupied Housing Units by Value* Value Less Than $20,000 406 1.14 511 1.36 492 1.24 Value $20,000 - $39,999 1,111 3.11 321 0.85 314 0.79 Value $40,000 - $59,999 4,606 12.90 532 1.42 468 1.18 Value $60,000 - $79,999 10,311 28.88 1,821 4.84 1,359 3.43 Value $80,000 - $99,999 6,900 19.32 3,499 9.30 2,887 7.29 Value $100,000 - $149,999 6,691 18.74 7,866 20.92 7,949 20.07 Value $150,000 - $199,999 2,921 8.18 6,507 17.30 6,354 16.05 Value $200,000 - $299,999 1,780 4.99 8,312 22.11 9,248 23.35 Value $300,000 - $399,999 512 1.43 3,766 10.02 4,526 11.43 Value $400,000 - $499,999 218 0.61 1,971 5.24 2,516 6.35 Value $500,000 - $749,999 138 0.39 1,420 3.78 1,977 4.99 Value $750,000 - $999,999 58 0.16 541 1.44 762 1.92 Value $1,000,000+ 9 0.03 -- -- -- -- Value $1,000,000 - $1,499,999 -- 0.00 320 0.85 444 1.12 Value $1,500,000 - $1,999,999 -- 0.00 82 0.22 142 0.36 Value $2,000,000+ -- 0.00 133 0.35 164 0.41 Median All Owner-Occupied Housing Unit Value -- 83,420.16 -- 181,325.14 -- 199,808.02 Group Quarters by Population Type** Group Quarters Population 7,596 5.15 7,439 4.97 7,372 4.71 Correctional Facilities 474 6.24 470 6.32 466 6.32 Nursing Homes 774 10.19 750 10.08 742 10.06 Other Facilities 134 1.76 129 1.73 127 1.72 Juvenile Facilities 102 1.34 101 1.36 99 1.34 College Dormitories 5,408 71.19 5,295 71.18 5,246 71.16 Military Quarters 0 0.00 0 0.00 0 0.00 Other Noninstitutional Quarters 704 9.27 694 9.33 692 9.39 Occupied Housing Units by Tenure* Owner-Occupied 35,661 57.01 37,602 61.30 39,602 61.38 Renter-Occupied 22,390 35.80 23,741 38.70 24,917 38.62 2000*/2010** 2022 2027 Census % Estimate % Projection % Households by Tenure by Age of Householder** Total Households 59,407 100.00 61,343 100.00 64,519 100.00 Owner-Occupied 36,253 61.02 37,602 57.23 39,602 57.44 Householder Age 55 - 64 8,062 22.24 9,030 24.02 8,676 21.91 Householder Age 65 - 74 4,904 13.53 7,764 20.65 9,500 23.99 Householder Age 75 - 84 3,810 10.51 3,912 10.40 4,232 10.69 Householder Age 85 and over 1,678 4.63 1,710 4.55 1,811 4.57 Renter-Occupied 23,154 38.98 23,741 38.70 24,917 38.62 Householder Age 55 - 64 2,615 11.29 3,106 13.08 2,993 12.01 Householder Age 65 - 74 1,371 5.92 2,250 9.48 2,775 11.14 Householder Age 75 - 84 1,029 4.44 1,119 4.71 1,244 4.99 Householder Age 85 and over 758 3.27 915 3.85 979 3.93 2000*/2010** 2022 2027 Census % Estimate % Projection % Households by Tenure by Age of Householder** Total Households 59,407 100.00 61,343 100.00 64,519 100.00 Owner-Occupied 36,253 61.02 37,602 57.23 39,602 57.44 Householder Age 55 - 64 8,062 22.24 9,030 24.02 8,676 21.91 Householder Age 65 - 74 4,904 13.53 7,764 20.65 9,500 23.99 Householder Age 75 - 84 3,810 10.51 3,912 10.40 4,232 10.69 Householder Age 85 and over 1,678 4.63 1,710 4.55 1,811 4.57 Renter-Occupied 23,154 38.98 23,741 38.70 24,917 38.62 Householder Age 55 - 64 2,615 11.29 3,106 13.08 2,993 12.01 Householder Age 65 - 74 1,371 5.92 2,250 9.48 2,775 11.14 Householder Age 75 - 84 1,029 4.44 1,119 4.71 1,244 4.99 Householder Age 85 and over 758 3.27 915 3.85 979 3.93 Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. *2000 Census generated data/**2010 Census generated data (https://en.environicsanalytics.ca/Envision/About/3/2022) Report Details Name: Fayetteville NY - PMA Demographics - 7-26-2022 Date / Time: 7/26/2022 1:24:36 PM Workspace: 2022 Demographic Reporting Workspace Vintage: 2022 Study Area Name Level Geographies Fayetteville NY - PMA ZIP Code 13057 (East Syracuse, NY); 13066 (Fayetteville, NY); 13078 (Jamesville, NY); 13082 (Kirkville, NY); 13104 (Manlius, NY); 13116 (Minoa, NY); 13206 (Syracuse, NY); 13208 (Syracuse, NY); 13210 (Syracuse, NY); 13211 (Syracuse, NY); 13214 (Syracuse, NY); 13224 (Syracuse, NY) Benchmark Benchmark: Fayetteville NY - PMA Copyright © 2022 by Environics Analytics (EA). Source: ©Claritas, LLC 2022. *2000 Census generated data/**2010 Census generated data (https://en.environicsanalytics.ca/Envision/About/3/2022) Report Details Name: Fayetteville NY - PMA Demographics - 7-26-2022 Date / Time: 7/26/2022 1:24:36 PM Workspace: 2022 Demographic Reporting Workspace Vintage: 2022 Study Area Name Level Geographies Fayetteville NY - PMA ZIP Code 13057 (East Syracuse, NY); 13066 (Fayetteville, NY); 13078 (Jamesville, NY); 13082 (Kirkville, NY); 13104 (Manlius, NY); 13116 (Minoa, NY); 13206 (Syracuse, NY); 13208 (Syracuse, NY); 13210 (Syracuse, NY); 13211 (Syracuse, NY); 13214 (Syracuse, NY); 13224 (Syracuse, NY) Benchmark Name Level Geographies Fayetteville NY - PMA ZIP Code 13057 (East Syracuse, NY); 13066 (Fayetteville, NY); 13078 (Jamesville, NY); 13082 (Kirkville, NY); 13104 (Manlius, NY); 13116 (Minoa, NY); 13206 (Syracuse, NY); 13208 (Syracuse, NY); 13210 (Syracuse, NY); 13211 (Syracuse, NY); 13214 (Syracuse, NY); 13224 (Syracuse, NY) DataSource Product Provider Copyright Claritas Pop-Facts® Premier 2022 Claritas ©Claritas, LLC 2022 (https://en.environicsanalytics.ca/Envision/About/3/2022# SPOTLIGHT Pop-Facts® Premier 2022, Claritas ©Claritas, LLC 2022 including 2000 and 2010 US Census, 2022 (https://en.environicsanalytics.ca/Envision/About/3/2022# estimates and 2027 projections Name Level Geographies Fayetteville NY - PMA ZIP Code 13057 (East Syracuse, NY); 13066 (Fayetteville, NY); 13078 (Jamesville, NY); 13082 (Kirkville, NY); 13104 (Manlius, NY); 13116 (Minoa, NY); 13206 (Syracuse, NY); 13208 (Syracuse, NY); 13210 (Syracuse, NY); 13211 (Syracuse, NY); 13214 (Syracuse, NY); 13224 (Syracuse, NY) DataSource Product Provider Copyright Claritas Pop-Facts® Premier 2022 Claritas ©Claritas, LLC 2022 (https://en.environicsanalytics.ca/Envision/About/3/2022# SPOTLIGHT Pop-Facts® Premier 2022, Claritas ©Claritas, LLC 2022 including 2000 and 2010 US Census, 2022 (https://en.environicsanalytics.ca/Envision/About/3/2022# estimates and 2027 projections SCHOENECK BON º &KING One Lincoln Center I Syracuse, NY 13202-1355 I bsk.com PAUL W. REICHEL preichel@bsk.com P: 315.218.8135 F: 315.218.8 I 00 October 24, 2022 SCHOENECK BON º &KING One Lincoln Center I Syracuse, NY 13202-1355 I bsk.com PAUL W. REICHEL preichel@bsk.com P: 315.218.8135 F: 315.218.8 I 00 October 24, 2022 VIA E-MAIL Onondaga County Industrial Development Agency 3 3 3 West Washington Street Suite 130 Syracuse, New York 13202 Attn: Robert M. Petrovich, Executive Director G.A. Braun, Inc. 79 General Irwin Boulevard P.O. Box 3029 Syracuse, New York 13220 Attn: James B. Werner, Chief Executive Officer Re: Consent to Dual Representation Dear Bob and J.B.: The purpose of this letter is to request that both Onondaga County Industrial Development Agency ("OCIDA") and G.A. Braun, Inc. (the "Company") consent to our representation of OCIDA, as bond counsel, and as counsel to G.A. Braun in connection with certain modifications to OCIDA's $2,847,000 original principal amount Revenue Bonds (G.A. Braun, Inc. Project) Series 2015A (Tax-Exempt) and its $2,797,670 original principal amount Revenue Bonds (G.A. Braun, Inc. Project), Series 2015B (Taxable) (the "Bonds"). OCIDA issued the Bonds on December 15, 2015 to finance the construction and equipping of an approximately 100,000 sq. ft. addition to the Company's existing corporate headquarters and manufacturing facility located at 79 General Irwin Boulevard in the Town of Cicero (the "Project") and related financing costs. The Bonds were originally purchased, and are currently held, by M&T Bank (the "Bank"). VIA E-MAIL Onondaga County Industrial Development Agency 3 3 3 West Washington Street Suite 130 Syracuse, New York 13202 Attn: Robert M. Petrovich, Executive Director G.A. Braun, Inc. 79 General Irwin Boulevard P.O. Box 3029 Syracuse, New York 13220 Attn: James B. Werner, Chief Executive Officer Re: Consent to Dual Representation Dear Bob and J.B.: The purpose of this letter is to request that both Onondaga County Industrial Development Agency ("OCIDA") and G.A. Braun, Inc. (the "Company") consent to our representation of OCIDA, as bond counsel, and as counsel to G.A. Braun in connection with certain modifications to OCIDA's $2,847,000 original principal amount Revenue Bonds (G.A. Braun, Inc. Project) Series 2015A (Tax-Exempt) and its $2,797,670 original principal amount Revenue Bonds (G.A. Braun, Inc. Project), Series 2015B (Taxable) (the "Bonds"). OCIDA issued the Bonds on December 15, 2015 to finance the construction and equipping of an approximately 100,000 sq. ft. addition to the Company's existing corporate headquarters and manufacturing facility located at 79 General Irwin Boulevard in the Town of Cicero (the "Project") and related financing costs. The Bonds were originally purchased, and are currently held, by M&T Bank (the "Bank"). The Bank has notified the Company that the Bonds need to be amended to change the interest rate provisions. The Bonds currently bear interest at a variable rate based on the LIBOR index. Commencing Jurte 30, 2023, LIBOR will no longer be available as a valid interest rate index, so the Bonds and related financing documents must be amended to implement a new interest rate index known as the Secured Overnight Financing Rate, or "SOFR". Additional amendments are also needed in order to extend the period during which the Bank will commit to hold the Bonds. Bond, Schoeneck & King, PLLC ("BS&K") has served as legal counsel to the Company for many years. BS&K has also served as bond counsel to OCIDA from time to time. BS&K served as OCIDA's bond counsel, and as Company counsel, in connection with the original issuance of the 14967052.1 Attorneys At Law IA Professional Limited Liability Company Onondaga County Industrial Development Agency G.A. Braun, Inc. October 24, 2022 Page 2 Bonds in 2015. BS&K also served as OCIDA bond counsel and Company counsel in connection with the 2007 issuance of OCIDA's $9,995,000 Variable Rate Demand Industrial Development Revenue Bonds (G.A. Braun, Inc. Project), Series 2007, which OCIDA issued to finance the original construction of the Company's manufacturing facility. The Company has requested that BS&K serve as bond counsel and Company counsel in connection with the Bond modifications described above. The Bank has notified the Company that the Bonds need to be amended to change the interest rate provisions. The Bonds currently bear interest at a variable rate based on the LIBOR index. Commencing Jurte 30, 2023, LIBOR will no longer be available as a valid interest rate index, so the Bonds and related financing documents must be amended to implement a new interest rate index known as the Secured Overnight Financing Rate, or "SOFR". Additional amendments are also needed in order to extend the period during which the Bank will commit to hold the Bonds. Bond, Schoeneck & King, PLLC ("BS&K") has served as legal counsel to the Company for many years. BS&K has also served as bond counsel to OCIDA from time to time. BS&K served as OCIDA's bond counsel, and as Company counsel, in connection with the original issuance of the 14967052.1 Attorneys At Law IA Professional Limited Liability Company Onondaga County Industrial Development Agency G.A. Braun, Inc. October 24, 2022 Page 2 Bonds in 2015. BS&K also served as OCIDA bond counsel and Company counsel in connection with the 2007 issuance of OCIDA's $9,995,000 Variable Rate Demand Industrial Development Revenue Bonds (G.A. Braun, Inc. Project), Series 2007, which OCIDA issued to finance the original construction of the Company's manufacturing facility. The Company has requested that BS&K serve as bond counsel and Company counsel in connection with the Bond modifications described above. As counsel to the Company in connection with proposed Bond modifications, our services will include, among other things, preparation of board of directors resolutions authorizing the modifications, review of transaction terms proposed by the Bank, and related documents, advising the Company regarding legal and tax questions, performing due diligence reviews and other work necessary to support any legal opinion, as the Company's counsel, that the Bank may require. Our legal services as bond counsel in connection with the proposed Bond modifications will include preparing the OCIDA resolutions, legal notices (if required), and other proceedings necessary to properly authorize the Bond modifications, preparing the documents necessary to implement the Bond modifications agreed upon by the Company and the Bank, reviewing specific details regarding the Bond modifications to confirm that interest on the Bonds and remain tax- exempt under applicable law, and rendering our legal opinion regarding the Bond modifications and their impact on the tax-exempt status of interest on the Bonds. In accordance with our obligations under the New York Rules of Professional Conduct for attorneys, we advise you of the following: As counsel to the Company in connection with proposed Bond modifications, our services will include, among other things, preparation of board of directors resolutions authorizing the modifications, review of transaction terms proposed by the Bank, and related documents, advising the Company regarding legal and tax questions, performing due diligence reviews and other work necessary to support any legal opinion, as the Company's counsel, that the Bank may require. Our legal services as bond counsel in connection with the proposed Bond modifications will include preparing the OCIDA resolutions, legal notices (if required), and other proceedings necessary to properly authorize the Bond modifications, preparing the documents necessary to implement the Bond modifications agreed upon by the Company and the Bank, reviewing specific details regarding the Bond modifications to confirm that interest on the Bonds and remain tax- exempt under applicable law, and rendering our legal opinion regarding the Bond modifications and their impact on the tax-exempt status of interest on the Bonds. In accordance with our obligations under the New York Rules of Professional Conduct for attorneys, we advise you of the following: In our capacity as bond counsel to OCIDA, we will not be involved in negotiating the terms of the Bond modifications or in other aspects of the financing where the interests of the Company and OCIDA are expected to be in conflict or adverse to each other. Moreover, the standard indemnification provisions in the Bond documents, running from the Company to OCIDA, lessen any potentially differing interests among the parties. Therefore, we believe that our firm can adequately represent the interests of both the Company and OCIDA, and that such representation will not adversely affect our independent judgment on behalf of the Company or OCIDA. If at any time in the future it appears to us that the interests of the Company and OCIDA are, or could become, adverse, we will advise the Company and OCIDA accordingly. In that instance, we may have to withdraw from the representation of both the Company and OCIDA in the Bond modification transaction. Examples of situations where the interests of the Company and OCIDA may become adverse include (1) disputes regarding the scope of the Company' duty to defend and indemnify OCIDA with respect to claims that may arise as a result of OCIDA's issuance or modification of the Bonds, and (2) issues regarding the payment and collection of OCIDA fees and expenses relating to the Bonds. In our experience, the likelihood of these or any other conflicting situations arising is remote. 14967052.1 In our capacity as bond counsel to OCIDA, we will not be involved in negotiating the terms of the Bond modifications or in other aspects of the financing where the interests of the Company and OCIDA are expected to be in conflict or adverse to each other. Moreover, the standard indemnification provisions in the Bond documents, running from the Company to OCIDA, lessen any potentially differing interests among the parties. Therefore, we believe that our firm can adequately represent the interests of both the Company and OCIDA, and that such representation will not adversely affect our independent judgment on behalf of the Company or OCIDA. If at any time in the future it appears to us that the interests of the Company and OCIDA are, or could become, adverse, we will advise the Company and OCIDA accordingly. In that instance, we may have to withdraw from the representation of both the Company and OCIDA in the Bond modification transaction. Examples of situations where the interests of the Company and OCIDA may become adverse include (1) disputes regarding the scope of the Company' duty to defend and indemnify OCIDA with respect to claims that may arise as a result of OCIDA's issuance or modification of the Bonds, and (2) issues regarding the payment and collection of OCIDA fees and expenses relating to the Bonds. In our experience, the likelihood of these or any other conflicting situations arising is remote. 14967052.1 Onondaga County Industrial Development Agency G.A. Braun, Inc. October 24, 2022 Page3 : . We further advise you that any information gained by us from the Company or OCIDA, in our capacity as counsel, may have to be shared with the other party in the event that information is material to the other client as it relates to this transaction. Again, in our experience, that likelihood is remote. Should either the Company or OCIDA prohibit us from making such disclosures, we may have to withdraw as counsel for both parties. If our dual representation is acceptable toyou, please indicate your consent in the space provided below, and return a signed original to my attention. You should consider seeking independent counsel prior to signing. Ifyou require any additional information or would like to discuss this matter further, please call. Very truly yours,. Onondaga County Industrial Development Agency G.A. Braun, Inc. October 24, 2022 Page3 : . We further advise you that any information gained by us from the Company or OCIDA, in our capacity as counsel, may have to be shared with the other party in the event that information is material to the other client as it relates to this transaction. Again, in our experience, that likelihood is remote. Should either the Company or OCIDA prohibit us from making such disclosures, we may have to withdraw as counsel for both parties. If our dual representation is acceptable toyou, please indicate your consent in the space provided below, and return a signed original to my attention. You should consider seeking independent counsel prior to signing. Ifyou require any additional information or would like to discuss this matter further, please call. Very truly yours,. BOND, SCHOENECK & KING PLLC }- 5 Paul W. Reichel- BOND, SCHOENECK & KING PLLC }- 5 Paul W. Reichel- ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY By: .. Robert M. Petrovich, Executive Director l AGREED TO THIS __ DAY OF OCTOBER, 2022 G.A. BRA Uy INC. »{ B. Wemer, Chief Executive Ofer ianes 14967052,1 From: Noah Siegel Sent: Tuesday, October 25, 2022 5:27 PM To: nancylowery@ongov.net; natestevens@ongov.net; jdavis@barclaydamon.com; robertpetrovich@ongov.net; Podlas, Samantha R. ; mbennett@barclaydamon.com Cc: Bo Wiegand ; Matthew DeSorbo (MDeSorbo@truegreencapital.com) ; Susan Amble ; Connor Medland Subject: Elbridge Solar - Tax Equity Request and Lease Update Dear Robert, Nancy, Jeffrey, and OCIDA, I hope this message finds you all well. We are approaching energization at the Town of Elbridge Landfill Solar Project and we’re please to share that the farm is almost entirely allocated to local residents of Elbridge to receive the 10% energy savings discounts (once the site is turned on!). It’s a very exciting milestone for the community. ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY By: .. Robert M. Petrovich, Executive Director l AGREED TO THIS __ DAY OF OCTOBER, 2022 G.A. BRA Uy INC. »{ B. Wemer, Chief Executive Ofer ianes 14967052,1 From: Noah Siegel Sent: Tuesday, October 25, 2022 5:27 PM To: nancylowery@ongov.net; natestevens@ongov.net; jdavis@barclaydamon.com; robertpetrovich@ongov.net; Podlas, Samantha R. ; mbennett@barclaydamon.com Cc: Bo Wiegand ; Matthew DeSorbo (MDeSorbo@truegreencapital.com) ; Susan Amble ; Connor Medland Subject: Elbridge Solar - Tax Equity Request and Lease Update Dear Robert, Nancy, Jeffrey, and OCIDA, I hope this message finds you all well. We are approaching energization at the Town of Elbridge Landfill Solar Project and we’re please to share that the farm is almost entirely allocated to local residents of Elbridge to receive the 10% energy savings discounts (once the site is turned on!). It’s a very exciting milestone for the community. At this time, we are nearing the final stages of construction and have finalized our tax equity provider, which is an affiliate of GAF Energy. This is the same entity that OCIDA reviewed for the Skaneateles project, which was approved by OCIDA. Given OCIDA’s familiarity with the transaction and parties, we hope this will make it an easy process for all. Additionally, it is our understanding that we must request an update to the PILOT document exhibits which include the legal description lease lines of the solar project. As part of the final engineering of the project, there were very slight variations to the system location, so we are updating the lease between the Company and the Town of Elbridge – the area was actually reduced by about an acre. We are hoping that this is not too tricky of a process and we are happy to get on a call to go over any details. We may be ready as soon as end of November to energize, so we are kindly requesting that we work together to obtain any resolution approval in two weeks at the 11/8 meeting. Thank you for your attention here and please do reach out! Thank you, Noah Noah Siegel Associate True Green Capital Management LLC 315 Post Road West, Westport, Connecticut 06880 United States At this time, we are nearing the final stages of construction and have finalized our tax equity provider, which is an affiliate of GAF Energy. This is the same entity that OCIDA reviewed for the Skaneateles project, which was approved by OCIDA. Given OCIDA’s familiarity with the transaction and parties, we hope this will make it an easy process for all. Additionally, it is our understanding that we must request an update to the PILOT document exhibits which include the legal description lease lines of the solar project. As part of the final engineering of the project, there were very slight variations to the system location, so we are updating the lease between the Company and the Town of Elbridge – the area was actually reduced by about an acre. We are hoping that this is not too tricky of a process and we are happy to get on a call to go over any details. We may be ready as soon as end of November to energize, so we are kindly requesting that we work together to obtain any resolution approval in two weeks at the 11/8 meeting. Thank you for your attention here and please do reach out! Thank you, Noah Noah Siegel Associate True Green Capital Management LLC 315 Post Road West, Westport, Connecticut 06880 United States