Public Hearing – Cryomech, Inc. — Cryomech-Final-Public-Hearing-Notice2.pdf =========================================================================== NOTICE OF PUBLIC HEARING PURSUANT TO NEW YORK GENERAL MUNICIPAL LAW §859-a ON PROPOSED PROJECT AND FINANCIAL ASSISTANCE Cryomech, Inc. 6682 Moore Road, 6655 Old Thompson Road and 6684 Moore Road, Town of Dewitt Tax Map # 022.-05-19.0, 022.-05-03.1, 022.-05-02.3 NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 859-a of the New York General Municipal Law will be held by the Onondaga County Industrial Development Agency (the “Agency”). Public Hearing Date and Time: November 3, 2022 at 11:30 A.M. Public Hearing Location: Dewitt Town Hall, 5400 Butternut Drive, East Syracuse, NY 13057 For assistance or questions regarding the public hearing please contact the Onondaga County Industrial Development Agency. The public hearing is being held in connection with the following matter: NOTICE OF PUBLIC HEARING PURSUANT TO NEW YORK GENERAL MUNICIPAL LAW §859-a ON PROPOSED PROJECT AND FINANCIAL ASSISTANCE Cryomech, Inc. 6682 Moore Road, 6655 Old Thompson Road and 6684 Moore Road, Town of Dewitt Tax Map # 022.-05-19.0, 022.-05-03.1, 022.-05-02.3 NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 859-a of the New York General Municipal Law will be held by the Onondaga County Industrial Development Agency (the “Agency”). Public Hearing Date and Time: November 3, 2022 at 11:30 A.M. Public Hearing Location: Dewitt Town Hall, 5400 Butternut Drive, East Syracuse, NY 13057 For assistance or questions regarding the public hearing please contact the Onondaga County Industrial Development Agency. The public hearing is being held in connection with the following matter: In 2019, the Agency undertook a project (the “2019 Project”) on behalf of Quantum Cool, LLC (the “Initial Real Estate Holding Company”) and Cryomech, Inc. (the “Company”) consisting of the following: (A) (1) the acquisition of an interest in an approximately 14-acre portion of land located at 6682 Moore Road (formerly part of tax map no. 022.-05-03.1, now tax map no. 022.- 05-19.0) in the Town of DeWitt, Onondaga County, New York (the “2019 Land”); (2) the construction on the Land of an approximately 76,000 square foot building (collectively, the “2019 Facility”); (3) the acquisition and installation therein and thereon of related fixtures, machinery, equipment and other tangible personal property (collectively, the “2019 Facility Equipment”) (the 2019 Land, the 2019 Facility and the 2019 Facility Equipment being collectively referred to as the “2019 Company Project Facility”); and (4) the acquisition and installation of certain equipment and personal property (the “2019 Equipment”, and together with the 2019 Company Project Facility, the “2019 Project Facility”) by the Initial Real Estate Holding Company, such Project Facility to be used by the Company as a manufacturing plant for high-performance cryogenic equipment and related office space; (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including potential exemptions from certain sales and use taxes, real property taxes and transfer and mortgage recording taxes (subject to certain statutory limitations) (collectively, the “2019 Financial Assistance”); and (C) (1) the lease (with an obligation to purchase) or sale of the 2019 Company Project Facility to the Initial Real Estate Holding Company or such other person as may be designated by the Initial Real Estate Holding Company and agreed upon by the Agency; and (2) and the lease (with an obligation to purchase) or sale of the 2019 Equipment to the Company or such other person as may be designated by the Company and agreed upon by the Agency. On or about March 24, 2022, the Initial Real Estate Holding sold all of its right, title and interest in and to the 2019 Company Project Facility to the Company and in connection therewith the Initial Real Estate Holding Company assigned to the Company and the Company assume from the Initial Real Estate Holding Company the obligations of the Initial Real Estate Holding Company under the 2019 Documents pursuant to an Omnibus Assignment and Assumption Agreement made as of March 24, In 2019, the Agency undertook a project (the “2019 Project”) on behalf of Quantum Cool, LLC (the “Initial Real Estate Holding Company”) and Cryomech, Inc. (the “Company”) consisting of the following: (A) (1) the acquisition of an interest in an approximately 14-acre portion of land located at 6682 Moore Road (formerly part of tax map no. 022.-05-03.1, now tax map no. 022.- 05-19.0) in the Town of DeWitt, Onondaga County, New York (the “2019 Land”); (2) the construction on the Land of an approximately 76,000 square foot building (collectively, the “2019 Facility”); (3) the acquisition and installation therein and thereon of related fixtures, machinery, equipment and other tangible personal property (collectively, the “2019 Facility Equipment”) (the 2019 Land, the 2019 Facility and the 2019 Facility Equipment being collectively referred to as the “2019 Company Project Facility”); and (4) the acquisition and installation of certain equipment and personal property (the “2019 Equipment”, and together with the 2019 Company Project Facility, the “2019 Project Facility”) by the Initial Real Estate Holding Company, such Project Facility to be used by the Company as a manufacturing plant for high-performance cryogenic equipment and related office space; (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including potential exemptions from certain sales and use taxes, real property taxes and transfer and mortgage recording taxes (subject to certain statutory limitations) (collectively, the “2019 Financial Assistance”); and (C) (1) the lease (with an obligation to purchase) or sale of the 2019 Company Project Facility to the Initial Real Estate Holding Company or such other person as may be designated by the Initial Real Estate Holding Company and agreed upon by the Agency; and (2) and the lease (with an obligation to purchase) or sale of the 2019 Equipment to the Company or such other person as may be designated by the Company and agreed upon by the Agency. On or about March 24, 2022, the Initial Real Estate Holding sold all of its right, title and interest in and to the 2019 Company Project Facility to the Company and in connection therewith the Initial Real Estate Holding Company assigned to the Company and the Company assume from the Initial Real Estate Holding Company the obligations of the Initial Real Estate Holding Company under the 2019 Documents pursuant to an Omnibus Assignment and Assumption Agreement made as of March 24, 2022 by and between the Initial Real Estate Holding Company and the Company, as consented to by the Agency. The Company has submitted an application to the Agency (the “Application”) on behalf of itself and entities formed or to be formed on its behalf, a copy of which Application is on file at the office of the Agency, which Application requests that the Agency consider undertaking an additional project (the “Project”) for the benefit of the Company and/or entities formed or to be formed on its behalf, said Project consisting of the following: (A)(1) the retention of the Agency’s interest in the 2019 Land and the acquisition of an interest in approximately 12.5 acres of land located at 6655 Old Thompson Road and 6684 Moore Road (parts of tax map nos. 022.-05-03.1 and 022.-05-02.3), all in the Town of Dewitt, Onondaga County, New York (all of the foregoing collectively, the “Land”) and the retention of the Agency’s interest in the 2019 Project Facility; (2) the construction on the Land of approximately 34,000 square feet of additions to the 2019 Facility and related exterior improvements, including but not limited to additional parking and storm water improvements (the “2022 Improvements” and together with the 2019 Facility, the “Facility”); and (3) the acquisition and installation therein and thereon of related fixtures, machinery, equipment and other tangible personal property (collectively, the “Equipment”) (the Land, the Facility, the 2019 Facility Equipment, the 2019 Equipment and the Equipment being collectively referred to as the “Project Facility”), which Project Facility will be used by the Company as a manufacturing plant for high-performance cryogenic equipment and related office space; (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including potential exemptions from certain sales and use taxes, real property taxes, real estate transfer taxes and mortgage recording taxes (subject to certain statutory limitations) (the “Financial Assistance”); and (C) the lease (with an obligation to purchase) or sale of the Project Facility to the Company or such other person as may be designated by the Company and agreed upon by the Agency. 2022 by and between the Initial Real Estate Holding Company and the Company, as consented to by the Agency. The Company has submitted an application to the Agency (the “Application”) on behalf of itself and entities formed or to be formed on its behalf, a copy of which Application is on file at the office of the Agency, which Application requests that the Agency consider undertaking an additional project (the “Project”) for the benefit of the Company and/or entities formed or to be formed on its behalf, said Project consisting of the following: (A)(1) the retention of the Agency’s interest in the 2019 Land and the acquisition of an interest in approximately 12.5 acres of land located at 6655 Old Thompson Road and 6684 Moore Road (parts of tax map nos. 022.-05-03.1 and 022.-05-02.3), all in the Town of Dewitt, Onondaga County, New York (all of the foregoing collectively, the “Land”) and the retention of the Agency’s interest in the 2019 Project Facility; (2) the construction on the Land of approximately 34,000 square feet of additions to the 2019 Facility and related exterior improvements, including but not limited to additional parking and storm water improvements (the “2022 Improvements” and together with the 2019 Facility, the “Facility”); and (3) the acquisition and installation therein and thereon of related fixtures, machinery, equipment and other tangible personal property (collectively, the “Equipment”) (the Land, the Facility, the 2019 Facility Equipment, the 2019 Equipment and the Equipment being collectively referred to as the “Project Facility”), which Project Facility will be used by the Company as a manufacturing plant for high-performance cryogenic equipment and related office space; (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including potential exemptions from certain sales and use taxes, real property taxes, real estate transfer taxes and mortgage recording taxes (subject to certain statutory limitations) (the “Financial Assistance”); and (C) the lease (with an obligation to purchase) or sale of the Project Facility to the Company or such other person as may be designated by the Company and agreed upon by the Agency. The Company will be the initial owner and/or operator of the Project Facility. The Agency has not made a decision with respect to the undertaking of the Project or the granting of the Financial Assistance. The Agency will at the above-stated time and place hear all persons with views in favor of or opposed to the Project and/or the Financial Assistance. If you do not want to participate in the hearing, but would like to watch or listen to the proceeding, you may view a livestream of the public hearing online at: https://us02web.zoom.us/j/89599374782 A copy of the Application including a cost/benefit analysis is available at the office of the Agency and on the Agency’s website for review by interested persons. A copy of a recording of the hearing will be available on the Agency’s website. The Company will be the initial owner and/or operator of the Project Facility. The Agency has not made a decision with respect to the undertaking of the Project or the granting of the Financial Assistance. The Agency will at the above-stated time and place hear all persons with views in favor of or opposed to the Project and/or the Financial Assistance. If you do not want to participate in the hearing, but would like to watch or listen to the proceeding, you may view a livestream of the public hearing online at: https://us02web.zoom.us/j/89599374782 A copy of the Application including a cost/benefit analysis is available at the office of the Agency and on the Agency’s website for review by interested persons. A copy of a recording of the hearing will be available on the Agency’s website. ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY Dated: October 19, 2022 ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY Dated: October 19, 2022