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PHONE: 315.435.3770 FAX: 315.435.3669 ONGOVED.COM Regular Meeting Agenda August 18, 2022 8:00 AM Call to Order the Finance Committee Meeting 8:05 AM Call to Order the Meeting of the Agency
1. 1046 Old Seneca Turnpike, Inc. (3101-22-04A) Initial Meeting The applicant is proposing to build an 88 room full-service hotel in the Town of Skaneateles. This a 98,000 square foot project on a 31 acre site at 1046 Old Seneca Turnpike. The applicant is requesting Sales and Use Tax and Mortgage Recording Tax Exemption.
Agency Action Requested:
a. A resolution of the Board authorizing a public hearing.
Representative: Rob Kelsey, Woodbine Group, Inc.
PHONE: 315.435.3770 FAX: 315.435.3669 ONGOVED.COM Regular Meeting Agenda August 18, 2022 8:00 AM Call to Order the Finance Committee Meeting 8:05 AM Call to Order the Meeting of the Agency
1. 1046 Old Seneca Turnpike, Inc. (3101-22-04A) Initial Meeting The applicant is proposing to build an 88 room full-service hotel in the Town of Skaneateles. This a 98,000 square foot project on a 31 acre site at 1046 Old Seneca Turnpike. The applicant is requesting Sales and Use Tax and Mortgage Recording Tax Exemption.
Agency Action Requested:
a. A resolution of the Board authorizing a public hearing.
Representative: Rob Kelsey, Woodbine Group, Inc.
Fayette Manlius, LLC is proposing a mixed used development at 332 Fayette Street in the Village of Manlius. The applicant is requesting reaffirmation of approval of exemptions from certain sales and use taxes, real property taxes, real estate taxes and mortgage recording taxes in light of an administrative error in connection with the public hearing notice.
Agency Action Requested:
a. A resolution of the board ratifying and reaffirming the approving resolution. Representative: Jeff Davis, OCIDA Counsel, Barclay Damon
OYA Camillus A LLC is requesting consent to sell the membership interest in the Company.
Agency Action Requested:
a. A resolution of the Board authorizing the sale of a controlling interest in OYA Camillus A LLC to OYA Renewables Construction Holdings 2 LLC.
Representative: Glenn Frank, General Counsel, OYA Solar
OYA Camillus B, LLC is requesting consent to sell the membership interest in the Company.
Agency Action Requested:
a. A resolution of the Board authorizing the sale of a controlling interest in OYA Camillus B LLC to OYA Renewables Construction Holdings 2 LLC
Fayette Manlius, LLC is proposing a mixed used development at 332 Fayette Street in the Village of Manlius. The applicant is requesting reaffirmation of approval of exemptions from certain sales and use taxes, real property taxes, real estate taxes and mortgage recording taxes in light of an administrative error in connection with the public hearing notice.
Agency Action Requested:
a. A resolution of the board ratifying and reaffirming the approving resolution. Representative: Jeff Davis, OCIDA Counsel, Barclay Damon
OYA Camillus A LLC is requesting consent to sell the membership interest in the Company.
Agency Action Requested:
a. A resolution of the Board authorizing the sale of a controlling interest in OYA Camillus A LLC to OYA Renewables Construction Holdings 2 LLC.
Representative: Glenn Frank, General Counsel, OYA Solar
OYA Camillus B, LLC is requesting consent to sell the membership interest in the Company.
Agency Action Requested:
a. A resolution of the Board authorizing the sale of a controlling interest in OYA Camillus B LLC to OYA Renewables Construction Holdings 2 LLC Representative: Glenn Frank, General Counsel, OYA Solar 5. DISTRICT EAST (3101-22-06A) Initial Meeting.
The applicant is proposing the redevelopment of the former Shoppingtown Mall property into a mixed use containing residential housing, entertainment, restaurants and hospitality, retail and office/institutional. The applicant is requesting: (i) OCIDA be lead agency for the environmental review of the project under SEQRA; (ii) a PILOT; (iii) sales and use and mortgage recording tax exemptions; and (iv) the potential use of eminent domain.
Agency Action Requested:
a. A resolution of the Board declaring the project a Type I action under SEQRA and the Agency’s intent to be Lead Agency for a coordinated environmental review Representative: Ryan Benz,. Representative, OHB Redev, Inc.
Executive Session
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 Representative: Glenn Frank, General Counsel, OYA Solar 5. DISTRICT EAST (3101-22-06A) Initial Meeting.
The applicant is proposing the redevelopment of the former Shoppingtown Mall property into a mixed use containing residential housing, entertainment, restaurants and hospitality, retail and office/institutional. The applicant is requesting: (i) OCIDA be lead agency for the environmental review of the project under SEQRA; (ii) a PILOT; (iii) sales and use and mortgage recording tax exemptions; and (iv) the potential use of eminent domain.
Agency Action Requested:
a. A resolution of the Board declaring the project a Type I action under SEQRA and the Agency’s intent to be Lead Agency for a coordinated environmental review Representative: Ryan Benz,. Representative, OHB Redev, Inc.
Executive Session
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
Onondaga County Industrial Development Agency Regular Meeting Minutes July 21, 2022 A regular meeting of the Onondaga County Industrial Development Agency was held on Tuesday, July 21, 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 8:04 am with the following:
PRESENT:
Patrick Hogan Janice Herzog Victor Ianno Steve Morgan Susan Stanczyk Kevin Ryan
ABSENT:
Fanny Villarreal
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 Amanda Fitzgerald, Barclay Damon Law Firm Samantha Podlas, Barclay Damon Law Firm Len Rauch, Office of Economic Development Matthew Pelligra, Office of Economic Development APPROVAL OF REGULAR MEETING MINUTES – JUNE 14, 2022 Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the regular meeting minutes of June 14, 2022. Motion was carried.
TREASURER’S REPORT Nate Stevens gave a brief review of the Treasurer’s Report for the month of June 2022. Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved the Treasurer’s Report for the month of June 2022. Motion was carried.
Onondaga County Industrial Development Agency Regular Meeting Minutes July 21, 2022 A regular meeting of the Onondaga County Industrial Development Agency was held on Tuesday, July 21, 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 8:04 am with the following:
PRESENT:
Patrick Hogan Janice Herzog Victor Ianno Steve Morgan Susan Stanczyk Kevin Ryan
ABSENT:
Fanny Villarreal
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 Amanda Fitzgerald, Barclay Damon Law Firm Samantha Podlas, Barclay Damon Law Firm Len Rauch, Office of Economic Development Matthew Pelligra, Office of Economic Development APPROVAL OF REGULAR MEETING MINUTES – JUNE 14, 2022 Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the regular meeting minutes of June 14, 2022. Motion was carried.
TREASURER’S REPORT Nate Stevens gave a brief review of the Treasurer’s Report for the month of June 2022. Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved the Treasurer’s Report for the month of June 2022. Motion was carried.
Nate Stevens gave a brief review of the Payment of Bills Schedule #471 Upon a motion by Steve Morgan, seconded by Susan Stanczyk, the OCIDA Board approved the Payment of Bills Schedule #471 for $1,458,920.59 and PILOT Payments to Onondaga County for $59,551.91, City of Syracuse for $47,051.64 and Syracuse City School District $86,757.90. Motion was carried.
Nate Stevens gave a brief review of the Payment of Bills Schedule #471 Upon a motion by Steve Morgan, seconded by Susan Stanczyk, the OCIDA Board approved the Payment of Bills Schedule #471 for $1,458,920.59 and PILOT Payments to Onondaga County for $59,551.91, City of Syracuse for $47,051.64 and Syracuse City School District $86,757.90. Motion was carried.
The Conflict of Interest was circulated and there were no conflicts reported.
The Conflict of Interest was circulated and there were no conflicts reported.
Joseph Cattalani stated they have experienced crazy increases in costs of doing business and construction. He stated his electrical contract went up 50%. He stated what started as a $4,000,000 project is now well over $6,000,000 and he hasn’t received asphalt prices yet. He stated when they got their estimate for asphalt it was $50 a barrel and now it is over $100 a barrel. He stated they have increases where they will easily surpass the first $250,000 in benefit. He stated they are looking to increase that benefit to help them out with the rest of the expenses. Nancy Lowery stated a public hearing was held and there were no comments.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing additional financial assistance in the form of an increase in the Sales and Use Tax Exemption for the Stewart Hancock Partners LLC/Dunn Tire LLC project. Motion was
carried.
Joseph Cattalani stated they have experienced crazy increases in costs of doing business and construction. He stated his electrical contract went up 50%. He stated what started as a $4,000,000 project is now well over $6,000,000 and he hasn’t received asphalt prices yet. He stated when they got their estimate for asphalt it was $50 a barrel and now it is over $100 a barrel. He stated they have increases where they will easily surpass the first $250,000 in benefit. He stated they are looking to increase that benefit to help them out with the rest of the expenses. Nancy Lowery stated a public hearing was held and there were no comments.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing additional financial assistance in the form of an increase in the Sales and Use Tax Exemption for the Stewart Hancock Partners LLC/Dunn Tire LLC project. Motion was
carried.
Ryan Benz stated they are giving a presentation of the District East project today but not submitting a formal application, although they do expect to do so in the next couple weeks. He stated Heuber Breuer, Dalpos Architects & Integrators and ReDev CNY make up a team called OHB Redev, LLC. He stated about a year ago they were awarded the RFP by the County for the redevelopment of Shoppingtown Mall. He stated the mall was built in 1954 and is now dilapidated. He stated the County took ownership of the property, issued an RFP and that’s where they find themselves today. He stated the mall continues to be dilapidated and they are going to change that. He stated they are 3 local firms with one common mission. He stated they wanted to put together the strongest folks in this market that can do a project of this size. He stated they all have experience, not necessarily this scale in terms of mall redevelopment, but certainly in the residential, commercial, retail etc. world. He stated Dalpos flies under the radar but they are one of the preeminent mall repositioning entities nationally and they are based here in Syracuse. He stated they did Destiny USA but also work with Simon Malls, Westville Malls and general growth properties. He stated they were awarded the RFP 12 months ago and they have been meeting 3 or 4 times every week, often times more than that, in addition to neighborhood meetings. He stated it has been an active process and they hired an international design firm called CallisonRTKL where they wanted to challenge their thoughts and assessments. He stated they spent 3 days with them and asked for a design with a clean slate. He stated a lot of changes were taken out of that meeting with Callison and they believe it produced a better product because of that experience. He stated once the Board sees the application they will see all the SEQR reports. He stated they have done sound, site, environmental, asbestos, transportation studies and these are in the report. He stated they have actively engaged with neighborhoods. He stated they have held listening sessions and one of the comments was making sure the site is more connected, more engrained to the neighborhoods around it. He stated improving the walkability and creating a different level of experience makes a lot of sense. He stated they will work with the Town of DeWitt to improve some of the walkability factors across Erie Boulevard.
Ryan Benz stated they are giving a presentation of the District East project today but not submitting a formal application, although they do expect to do so in the next couple weeks. He stated Heuber Breuer, Dalpos Architects & Integrators and ReDev CNY make up a team called OHB Redev, LLC. He stated about a year ago they were awarded the RFP by the County for the redevelopment of Shoppingtown Mall. He stated the mall was built in 1954 and is now dilapidated. He stated the County took ownership of the property, issued an RFP and that’s where they find themselves today. He stated the mall continues to be dilapidated and they are going to change that. He stated they are 3 local firms with one common mission. He stated they wanted to put together the strongest folks in this market that can do a project of this size. He stated they all have experience, not necessarily this scale in terms of mall redevelopment, but certainly in the residential, commercial, retail etc. world. He stated Dalpos flies under the radar but they are one of the preeminent mall repositioning entities nationally and they are based here in Syracuse. He stated they did Destiny USA but also work with Simon Malls, Westville Malls and general growth properties. He stated they were awarded the RFP 12 months ago and they have been meeting 3 or 4 times every week, often times more than that, in addition to neighborhood meetings. He stated it has been an active process and they hired an international design firm called CallisonRTKL where they wanted to challenge their thoughts and assessments. He stated they spent 3 days with them and asked for a design with a clean slate. He stated a lot of changes were taken out of that meeting with Callison and they believe it produced a better product because of that experience. He stated once the Board sees the application they will see all the SEQR reports. He stated they have done sound, site, environmental, asbestos, transportation studies and these are in the report. He stated they have actively engaged with neighborhoods. He stated they have held listening sessions and one of the comments was making sure the site is more connected, more engrained to the neighborhoods around it. He stated improving the walkability and creating a different level of experience makes a lot of sense. He stated they will work with the Town of DeWitt to improve some of the walkability factors across Erie Boulevard.
Andy Breuer stated the only negative comments were harboring back to Shoppingtown in its heyday when there was retail congestion especially around the holidays. He stated the density of retail and what they envisioned is probably 30% of the retail that had existed in the mall. He stated he thinks the balance of what is proposed will be neighborhood friendly.
Ryan Benz stated the Town of DeWitt has been part of the process for months and OHB Redev LLC wanted to make sure they had the Town’s input so this is not a surprise to them. He stated an important real estate holder is tenants. He stated they have showed the plans to multiple tenants, medical offices, grocers and movie theaters asking them if this is something that would attract them to this market and the answer was yes. He stated they have a lot of confidence that once they continue to advance these conversations they will have leases in place. He stated one of the requested benefits from this Board is related to the REA, Reciprocal Easement Agreement. He stated currently the Shoppingtown site is a 68 acre site that is on 6 different parcels. He stated the County acquired 3 of the 6 parcels. He stated they can handle 1 parcel without the need for this Board and that leaves 2 different parcels, Sears and Macy’s. He stated Sears is owned by TransformCo and established by a gentleman named Eddie Lampert. He stated Eddie Lampert owned Sears and before Sears went bankrupt he transferred all the real estate assets to TransformCo which is a separate holding company owned by Eddie Lampert. He stated all the Sears that still remain active are owned by Seritage. He stated OHB has been negotiating with them for the last 4 months. He stated they made their first offer before they were awarded the RFP because if they were awarded the RFP they wanted to be ready to go. He stated they have gone back and forth and made 4 written offers including a cash offer. He stated TransformCO did counter them recently. He stated OHB is going to request the use of eminent domain where the Agency would step in to acquire the sites then turn them over to OHB to move this project forward. He stated the REA is so restricted that without consolidation of ownership no project can advance on this site. He stated the entire site will not have any development and fall into further disrepair unless the ownership is terminated. He stated the most important thing to advance this project is to consolidate the real estate. He stated Sear’s is owned by TransformCo and Macy’s is owned by Benderson Corporation. He stated Benderson Corporation is the largest private land owner in the United States. He stated they own Marshalls Plaza.
Andy Breuer stated the only negative comments were harboring back to Shoppingtown in its heyday when there was retail congestion especially around the holidays. He stated the density of retail and what they envisioned is probably 30% of the retail that had existed in the mall. He stated he thinks the balance of what is proposed will be neighborhood friendly.
Ryan Benz stated the Town of DeWitt has been part of the process for months and OHB Redev LLC wanted to make sure they had the Town’s input so this is not a surprise to them. He stated an important real estate holder is tenants. He stated they have showed the plans to multiple tenants, medical offices, grocers and movie theaters asking them if this is something that would attract them to this market and the answer was yes. He stated they have a lot of confidence that once they continue to advance these conversations they will have leases in place. He stated one of the requested benefits from this Board is related to the REA, Reciprocal Easement Agreement. He stated currently the Shoppingtown site is a 68 acre site that is on 6 different parcels. He stated the County acquired 3 of the 6 parcels. He stated they can handle 1 parcel without the need for this Board and that leaves 2 different parcels, Sears and Macy’s. He stated Sears is owned by TransformCo and established by a gentleman named Eddie Lampert. He stated Eddie Lampert owned Sears and before Sears went bankrupt he transferred all the real estate assets to TransformCo which is a separate holding company owned by Eddie Lampert. He stated all the Sears that still remain active are owned by Seritage. He stated OHB has been negotiating with them for the last 4 months. He stated they made their first offer before they were awarded the RFP because if they were awarded the RFP they wanted to be ready to go. He stated they have gone back and forth and made 4 written offers including a cash offer. He stated TransformCO did counter them recently. He stated OHB is going to request the use of eminent domain where the Agency would step in to acquire the sites then turn them over to OHB to move this project forward. He stated the REA is so restricted that without consolidation of ownership no project can advance on this site. He stated the entire site will not have any development and fall into further disrepair unless the ownership is terminated. He stated the most important thing to advance this project is to consolidate the real estate. He stated Sear’s is owned by TransformCo and Macy’s is owned by Benderson Corporation. He stated Benderson Corporation is the largest private land owner in the United States. He stated they own Marshalls Plaza.
Ryan Benz stated Seritage sold that building for $2.25 million which is $15.31 a foot. He stated their last cash offer to them with a 90 day closing was over $20 a foot at $3,000,000 for their parcel. He stated they countered them at $7.5 million. He stated they are not going to pay 5X what the market is. He stated they presented comps and will continue to present other comps in the market. He stated the comps for this kind of space is about $10 to $12 a foot. He stated when they did their offer they made it double what the market should support. He stated if successful with the IDA going through eminent domain proceedings, the value is determined by a judge. He stated the comp is $10-12 a foot and they will pay $15 a foot right now. He stated Ryan Benz stated Seritage sold that building for $2.25 million which is $15.31 a foot. He stated their last cash offer to them with a 90 day closing was over $20 a foot at $3,000,000 for their parcel. He stated they countered them at $7.5 million. He stated they are not going to pay 5X what the market is. He stated they presented comps and will continue to present other comps in the market. He stated the comps for this kind of space is about $10 to $12 a foot. He stated when they did their offer they made it double what the market should support. He stated if successful with the IDA going through eminent domain proceedings, the value is determined by a judge. He stated the comp is $10-12 a foot and they will pay $15 a foot right now. He stated they need to be realistic about what this building is actually worth. He stated there has been multiple offers and multiple conversations with Benderson on how to make this deal happen and there has been no response. He stated when they met with Callison they wanted to create a master plan community in a way that was sensitive to what the Town of DeWitt was looking for and appropriate for this market. He stated the Town of DeWitt has already done a rezoning to create what they call an MVE3 which is a natural use of a village. He stated they don’t want a big box tenant. He stated they want mixed use and a significant residential component. He stated they want a village, a center heart of what the Town of DeWitt could be. He stated it has already established in their MVE3 and they will do a small amendment to allow various amenities but will not change the uses. He stated they want to create an experience. He stated there will be residences on site, employees, retailers and shoppers. He stated they have roughly 5 acres of parks, welcome pads, splash pads and other wonderful amenities with about an acre in the center where they envision outdoor movie theater, outdoor ice skating rink and food trucks. He stated their goal is to make it accessible and active all year round. He stated from a retail perspective one of the challenges of this market is the weather so they will have radiated sidewalks and heat lamps under awnings as you walk through which would be part of the experience. He stated they feel this site will be a fantastic spearhead at the tip of the Empire State Trail and one of the reasons they did their design the way they did was to work within the existing model of the Empire State Trail to bring it directly within the park. He stated adjoining their site is a senior development proposed to be 150 units. He stated what they are doing is taking their architectural drawings and understanding how the Empire State Trail would go through their site to come to the OHB site. He stated they believe this will be a significant anchor where people are using the trail and stop to change a tire, get lunch or those kinds of things. He stated there is a significant residential shortage in this market. He stated if the county is successful in attracting something at White Pine there will be an even greater challenge. He stated they are currently proposing over 500 units which includes market rentals, condos, affordable senior housing and townhouses. He stated they want to create an opportunity for multiple income levels to come to the site to enjoy the experience that is part of a neighborly perspective. He stated the number one thing people ask for is condos and without any marketing they get about 40-50 solicitations asking for condos. He stated when they designed it they wanted to engrain the different missions and different goals together. He stated there is a significant traditional residential component made up of townhouses and 3-4 story residential buildings, in the middle is the park and above the retail and restaurants. He stated they have about 170,000 sq. ft. of proposed letters of intent that can be turned into leases right now. He they need to be realistic about what this building is actually worth. He stated there has been multiple offers and multiple conversations with Benderson on how to make this deal happen and there has been no response. He stated when they met with Callison they wanted to create a master plan community in a way that was sensitive to what the Town of DeWitt was looking for and appropriate for this market. He stated the Town of DeWitt has already done a rezoning to create what they call an MVE3 which is a natural use of a village. He stated they don’t want a big box tenant. He stated they want mixed use and a significant residential component. He stated they want a village, a center heart of what the Town of DeWitt could be. He stated it has already established in their MVE3 and they will do a small amendment to allow various amenities but will not change the uses. He stated they want to create an experience. He stated there will be residences on site, employees, retailers and shoppers. He stated they have roughly 5 acres of parks, welcome pads, splash pads and other wonderful amenities with about an acre in the center where they envision outdoor movie theater, outdoor ice skating rink and food trucks. He stated their goal is to make it accessible and active all year round. He stated from a retail perspective one of the challenges of this market is the weather so they will have radiated sidewalks and heat lamps under awnings as you walk through which would be part of the experience. He stated they feel this site will be a fantastic spearhead at the tip of the Empire State Trail and one of the reasons they did their design the way they did was to work within the existing model of the Empire State Trail to bring it directly within the park. He stated adjoining their site is a senior development proposed to be 150 units. He stated what they are doing is taking their architectural drawings and understanding how the Empire State Trail would go through their site to come to the OHB site. He stated they believe this will be a significant anchor where people are using the trail and stop to change a tire, get lunch or those kinds of things. He stated there is a significant residential shortage in this market. He stated if the county is successful in attracting something at White Pine there will be an even greater challenge. He stated they are currently proposing over 500 units which includes market rentals, condos, affordable senior housing and townhouses. He stated they want to create an opportunity for multiple income levels to come to the site to enjoy the experience that is part of a neighborly perspective. He stated the number one thing people ask for is condos and without any marketing they get about 40-50 solicitations asking for condos. He stated when they designed it they wanted to engrain the different missions and different goals together. He stated there is a significant traditional residential component made up of townhouses and 3-4 story residential buildings, in the middle is the park and above the retail and restaurants. He stated they have about 170,000 sq. ft. of proposed letters of intent that can be turned into leases right now. He stated that means new buildings and repurposing the former Sears building. He stated they are going to demolish about 1/3 of the building to allow for a road to come around and try and include the Empire State Trail because it has 8.5 million visitors just to the trail itself across New York. He stated it is a quality of life for people living on site to hopefully be more likely to use the Empire State Trail. He stated the park is intended to be pedestrian and vehicular but they will turn off the vehicular when it’s busier like holiday season or weekends. He stated they spoke with movie theaters and it will not surprise him if Regal wants to continue their presence in the market. He stated they formally had this space and were successful. He stated they suspect they will reutilize the bulk of the existing theater to bring a movie theater back to this side of town. He stated it is not going to be a traditional theater, it is going to be a theatery concept. He stated 45% of AMC’s business today comes from food and beverage. He stated the original mall was 1.1 million sq. ft. of retail and they are downsizing to about 250,000 sq. ft. He stated they are going to lease to a local institution of higher education who has been an active partner since day one. He stated they are looking for higher education, continuing education and masters level classes off their campus. He stated they are developing about 75,000 sq. ft. and they are negotiating how the parking deck will be better tied to this building so their students can park and easily walk to class. He stated the medical offices will be 750,000 sq. ft. and will take up the entire Sears building. He stated there will be an 8 story condo building with retail on the bottom and the proximity to the existing parking deck makes it an amenity rich building. He stated everything is inward facing to have the experience from within. He stated there is a potential grocer on the site as well and they have a few national high quality grocers not in this market that want to be.
stated that means new buildings and repurposing the former Sears building. He stated they are going to demolish about 1/3 of the building to allow for a road to come around and try and include the Empire State Trail because it has 8.5 million visitors just to the trail itself across New York. He stated it is a quality of life for people living on site to hopefully be more likely to use the Empire State Trail. He stated the park is intended to be pedestrian and vehicular but they will turn off the vehicular when it’s busier like holiday season or weekends. He stated they spoke with movie theaters and it will not surprise him if Regal wants to continue their presence in the market. He stated they formally had this space and were successful. He stated they suspect they will reutilize the bulk of the existing theater to bring a movie theater back to this side of town. He stated it is not going to be a traditional theater, it is going to be a theatery concept. He stated 45% of AMC’s business today comes from food and beverage. He stated the original mall was 1.1 million sq. ft. of retail and they are downsizing to about 250,000 sq. ft. He stated they are going to lease to a local institution of higher education who has been an active partner since day one. He stated they are looking for higher education, continuing education and masters level classes off their campus. He stated they are developing about 75,000 sq. ft. and they are negotiating how the parking deck will be better tied to this building so their students can park and easily walk to class. He stated the medical offices will be 750,000 sq. ft. and will take up the entire Sears building. He stated there will be an 8 story condo building with retail on the bottom and the proximity to the existing parking deck makes it an amenity rich building. He stated everything is inward facing to have the experience from within. He stated there is a potential grocer on the site as well and they have a few national high quality grocers not in this market that want to be.
Ryan Benz stated with the route 81 project they think that will be important for the tourism draw to the property.
Kevin Ryan stated the footprint for the grocer location is where Scotch & Sirloin is. Ryan Benz stated they talked to Mr. Tiffany, owner, and they have a lease that extends to early 2032. He stated the reality is the restaurant is dated and he recognizes that and thinks they will find a new home for him elsewhere in the site. He stated for them to bring anybody here they will have to negotiate with Mr. Tiffany. He stated he suspects it will cost them a lot of money to get him to relieve his lease. Andy Breuer stated it is not necessarily to say a grocer has to be in that spot. Victor Ianno stated he thinks this is a tremendous plan and it is about time someone came up with something as clever as this.
Ryan Benz stated the project itself has been broken down into stages with Stage 0 being the infrastructure and will be about $45 million. He stated as part of that there is a demolition of the existing mall, 170,000 square feet of new sidewalks and sewers. He stated the prep of the site has to be done first. Andy Breuer stated a lot of that will have to be in cooperation with the Town of DeWitt.
Patrick Hogan asked who will pay for the infrastructure costs. Ryan Benz stated OHB. Ryan Benz stated with the route 81 project they think that will be important for the tourism draw to the property.
Kevin Ryan stated the footprint for the grocer location is where Scotch & Sirloin is. Ryan Benz stated they talked to Mr. Tiffany, owner, and they have a lease that extends to early 2032. He stated the reality is the restaurant is dated and he recognizes that and thinks they will find a new home for him elsewhere in the site. He stated for them to bring anybody here they will have to negotiate with Mr. Tiffany. He stated he suspects it will cost them a lot of money to get him to relieve his lease. Andy Breuer stated it is not necessarily to say a grocer has to be in that spot. Victor Ianno stated he thinks this is a tremendous plan and it is about time someone came up with something as clever as this.
Ryan Benz stated the project itself has been broken down into stages with Stage 0 being the infrastructure and will be about $45 million. He stated as part of that there is a demolition of the existing mall, 170,000 square feet of new sidewalks and sewers. He stated the prep of the site has to be done first. Andy Breuer stated a lot of that will have to be in cooperation with the Town of DeWitt.
Patrick Hogan asked who will pay for the infrastructure costs. Ryan Benz stated OHB. Patrick Hogan asked about maintenance. Andy Breuer stated they are chasing incentives for the infrastructure package. He stated they are hoping the Town of DeWitt will cooperate with them to make the blue streets on the map town streets.
Patrick Hogan asked how much parking is there including the garage. Ryan Benz stated 3,500 parking spaces.
Patrick Hogan stated he loves the park concept and the pedestrian accessibility. He stated this is something that will create a life center, a lifestyle that people want and it is a perfect vision. Victor Ianno asked if the curb cuts are existing now or are they going to be new on Erie Boulevard. Andy Breuer stated they are currently showing new curb cuts on Kinney but the rest already exist. He stated the Loop Road largely still exist but for where people depart out to Kinney Road. He stated next to Chili’s and across from Scotch & Sirloin already exist. Victor Ianno asked if all the approvals are in place and how long do they anticipate it would take to complete. Andy Breuer stated it is a 5-7 year timeline. He stated it is going to be a function of how market forces affect them as well as how effective they are with the Phase 0 infrastructure package to make as much of the site shovel ready as possible from the start. Patrick Hogan asked about maintenance. Andy Breuer stated they are chasing incentives for the infrastructure package. He stated they are hoping the Town of DeWitt will cooperate with them to make the blue streets on the map town streets.
Patrick Hogan asked how much parking is there including the garage. Ryan Benz stated 3,500 parking spaces.
Patrick Hogan stated he loves the park concept and the pedestrian accessibility. He stated this is something that will create a life center, a lifestyle that people want and it is a perfect vision. Victor Ianno asked if the curb cuts are existing now or are they going to be new on Erie Boulevard. Andy Breuer stated they are currently showing new curb cuts on Kinney but the rest already exist. He stated the Loop Road largely still exist but for where people depart out to Kinney Road. He stated next to Chili’s and across from Scotch & Sirloin already exist. Victor Ianno asked if all the approvals are in place and how long do they anticipate it would take to complete. Andy Breuer stated it is a 5-7 year timeline. He stated it is going to be a function of how market forces affect them as well as how effective they are with the Phase 0 infrastructure package to make as much of the site shovel ready as possible from the start. Patrick Hogan asked about financing. Ryan Benz stated they are working with ESD and others for some funding for Phase 0. He stated in conversations with ESD they show lines of credit from their lending institutions significant already. He stated there is also the realization that when you do these deals and bring in 170,000 sq. ft. of medical office it’s easily underwritten. He stated with 500 residential units they have no problem being underwritten because of the high demand and banks are very comfortable with that.
Patrick Hogan asked if they will be asking for a PILOT. Andy Breuer stated they are submitting an application to the Agency for a PILOT as well as sales tax and mortgage recording tax and they hope to have that in by August 9 meeting.
Patrick Hogan stated this is a terrific vision for the Agency’s mission.
Janice Herzog asked where the senior living center will be. Andy Breuer stated one of the sites in the yellow portion of the land use map would be a garden type style affordable senior living. He stated Housing Visions would likely be their partner to do that. Ryan Benz stated it is going through the Town of DeWitt approvals at this time.
Patrick Hogan stated there might be 3 generations living on this site. Andy Breuer stated he wanted the project to have longevity and cross appeal to different groups.
Patrick Hogan asked about financing. Ryan Benz stated they are working with ESD and others for some funding for Phase 0. He stated in conversations with ESD they show lines of credit from their lending institutions significant already. He stated there is also the realization that when you do these deals and bring in 170,000 sq. ft. of medical office it’s easily underwritten. He stated with 500 residential units they have no problem being underwritten because of the high demand and banks are very comfortable with that.
Patrick Hogan asked if they will be asking for a PILOT. Andy Breuer stated they are submitting an application to the Agency for a PILOT as well as sales tax and mortgage recording tax and they hope to have that in by August 9 meeting.
Patrick Hogan stated this is a terrific vision for the Agency’s mission.
Janice Herzog asked where the senior living center will be. Andy Breuer stated one of the sites in the yellow portion of the land use map would be a garden type style affordable senior living. He stated Housing Visions would likely be their partner to do that. Ryan Benz stated it is going through the Town of DeWitt approvals at this time.
Patrick Hogan stated there might be 3 generations living on this site. Andy Breuer stated he wanted the project to have longevity and cross appeal to different groups.
Kevin Ryan asked at what point they envision formally asking the Agency to pursue eminent domain against the two property owners. He asked if the Sears owner has offered an explanation as to why this property is valued so much higher. Ryan Benz stated at the next meeting they will be making a formal application which includes the use of eminent domain. He stated they have not received a response from TransformCo as to the higher price and they only received a response as to what they will accept. He stated they are more than willing to make an above market offer but they are not going to offer $60 a square foot.
Kevin Ryan stated he understands that from a business perspective but there are other considerations pursuant to eminent domain for the Agency.
Victor Ianno stated with the advent of route 81 being done and 481 being the go through, has a hotel been considered. Ryan Benz stated yes. He stated there is an opportunity for a hotel and they believe from a tourist perspective that can be a great anchor to have a place to stay for folks coming off the trail. He stated this site projects about 3.5 million visitors and 25.6% of those visitors will be coming from outside the Central New York MSA which equals about 850,000 Kevin Ryan asked at what point they envision formally asking the Agency to pursue eminent domain against the two property owners. He asked if the Sears owner has offered an explanation as to why this property is valued so much higher. Ryan Benz stated at the next meeting they will be making a formal application which includes the use of eminent domain. He stated they have not received a response from TransformCo as to the higher price and they only received a response as to what they will accept. He stated they are more than willing to make an above market offer but they are not going to offer $60 a square foot.
Kevin Ryan stated he understands that from a business perspective but there are other considerations pursuant to eminent domain for the Agency.
Victor Ianno stated with the advent of route 81 being done and 481 being the go through, has a hotel been considered. Ryan Benz stated yes. He stated there is an opportunity for a hotel and they believe from a tourist perspective that can be a great anchor to have a place to stay for folks coming off the trail. He stated this site projects about 3.5 million visitors and 25.6% of those visitors will be coming from outside the Central New York MSA which equals about 850,000 annual visitors contributing $431,000,000 to the local economy. He stated there is probably a great market for a hotel Andy Breuer stated the viability of the hotel is largely a function of exactly where they end up with the institutional anchor piece as well as the medical and wellness piece. He stated they see an opportunity but not necessarily a flag branded hotel although they are willing to consider it.
Janice Herzog stated she thinks a lot of Township 5’s visitor flow came from Costco. Andy Breuer stated that was their key part to the application as they were really appealing to the tourist factor. He stated a hotel is in parts of the application. He stated they have only had site control for 10 business days.
Janice Herzog stated it was mentioned they are not doing big box. Andy Breuer stated they would like to avoid it and he thinks the Town of DeWitt would prefer to avoid it. He stated if White Pine is successful it could put a tremendous strain on housing and they want to focus on all types of housing.
Patrick Hogan stated he would be amiss if he didn’t mention the County Executive in this positive action regarding this issue.
annual visitors contributing $431,000,000 to the local economy. He stated there is probably a great market for a hotel Andy Breuer stated the viability of the hotel is largely a function of exactly where they end up with the institutional anchor piece as well as the medical and wellness piece. He stated they see an opportunity but not necessarily a flag branded hotel although they are willing to consider it.
Janice Herzog stated she thinks a lot of Township 5’s visitor flow came from Costco. Andy Breuer stated that was their key part to the application as they were really appealing to the tourist factor. He stated a hotel is in parts of the application. He stated they have only had site control for 10 business days.
Janice Herzog stated it was mentioned they are not doing big box. Andy Breuer stated they would like to avoid it and he thinks the Town of DeWitt would prefer to avoid it. He stated if White Pine is successful it could put a tremendous strain on housing and they want to focus on all types of housing.
Patrick Hogan stated he would be amiss if he didn’t mention the County Executive in this positive action regarding this issue.
Jeff Davis stated he would like to take a motion by the Board to go into Executive Session under the New York Public Office’s Law Section 105 for the purpose of discussing the proposed acquisition of land.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board went into Executive Session at 8:52 am to discuss the acquisition of real property. Motion was carried. (Steve Morgan left meeting) Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board adjourned Executive Session at 9:15 am. Motion was carried.
Jeff Davis stated he would like to take a motion by the Board to go into Executive Session under the New York Public Office’s Law Section 105 for the purpose of discussing the proposed acquisition of land.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board went into Executive Session at 8:52 am to discuss the acquisition of real property. Motion was carried. (Steve Morgan left meeting) Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board adjourned Executive Session at 9:15 am. Motion was carried.
Jeff Davis stated before the Board are two resolutions with regard to action item A and two resolutions with regard to action item B. He stated the two resolutions under action item A are rescinding resolutions authorizing the adoption of a SEQR determination and under Agency action B are rescinding resolutions that authorize the Executive Director to enter into certain purchase contracts. He stated 4 resolutions of the Board are being rescinded that were enacted at the July meeting.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution to rescind resolutions authorizing adoption of SEQR determinations. Motion was
carried.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution rescinding authorizing Executive Director to enter into purchase contracts and related documents with respect to parcels of property. Motion was carried.
Jeff Davis stated before the Board are two resolutions with regard to action item A and two resolutions with regard to action item B. He stated the two resolutions under action item A are rescinding resolutions authorizing the adoption of a SEQR determination and under Agency action B are rescinding resolutions that authorize the Executive Director to enter into certain purchase contracts. He stated 4 resolutions of the Board are being rescinded that were enacted at the July meeting.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution to rescind resolutions authorizing adoption of SEQR determinations. Motion was
carried.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution rescinding authorizing Executive Director to enter into purchase contracts and related documents with respect to parcels of property. Motion was carried.
Jeff Davis stated there will be 3 resolutions under agenda action item A and 3 resolutions under agenda action B. He stated there are 3 separate property acquisitions to be voted on. He stated the first one has a short form EAF for the acquisition of approximately 44 acres of land. He stated the EAF has been reviewed and completed a determination and the recommendation for the property acquisition at 8821 Brewerton Road is a negative declaration under SEQR. He stated the first action before the Board would be a resolution of the Board authorizing the adoption of a SEQR determination.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQRA determination. Motion was carried.
Jeff Davis stated the next resolution is an authorizing resolution where the Board would be authorizing the Executive Director to enter into a purchase contract and any related documents with respect to the property at 8821 Brewerton Road.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution authorizing the Executive Director to enter into a purchase contract and any related documents with respect to the parcels of property. Motion was carried.
Jeff Davis stated there will be 3 resolutions under agenda action item A and 3 resolutions under agenda action B. He stated there are 3 separate property acquisitions to be voted on. He stated the first one has a short form EAF for the acquisition of approximately 44 acres of land. He stated the EAF has been reviewed and completed a determination and the recommendation for the property acquisition at 8821 Brewerton Road is a negative declaration under SEQR. He stated the first action before the Board would be a resolution of the Board authorizing the adoption of a SEQR determination.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQRA determination. Motion was carried.
Jeff Davis stated the next resolution is an authorizing resolution where the Board would be authorizing the Executive Director to enter into a purchase contract and any related documents with respect to the property at 8821 Brewerton Road.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution authorizing the Executive Director to enter into a purchase contract and any related documents with respect to the parcels of property. Motion was carried.
Jeff Davis stated the agenda action under number 4 deals with the acquisition of 3 parcels all owned by the same Board related entities so Counsel has looked at them as combined as required under SEQR review. He stated as a result it is 104 acres of review and a long form EAF has been prepared. He stated this property has been for sale by the land owner for quite some time. He stated they have reviewed the long form EAF. He stated parcels 5064 State Route 31, 5154 State Route 31 and 5170 State Route 31 SEQR review has been done for the purpose of acquisition. He stated any future development on those would be purely speculative at this time and should any development on those properties appear or be desired in the future that would be studied fully under SEQR for the exact development that could be proposed. He stated the Agency recognizes this is promoting economic development in terms of supporting the acquisition of these lands. He stated there is a SEQR resolution before the Board authorizing the adoption of a SEQR determination as a Type I action and issuing a negative declaration for the properties listed on State Route 31.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of a SEQR determination. Motion was carried. Jeff Davis stated the agenda action under number 4 deals with the acquisition of 3 parcels all owned by the same Board related entities so Counsel has looked at them as combined as required under SEQR review. He stated as a result it is 104 acres of review and a long form EAF has been prepared. He stated this property has been for sale by the land owner for quite some time. He stated they have reviewed the long form EAF. He stated parcels 5064 State Route 31, 5154 State Route 31 and 5170 State Route 31 SEQR review has been done for the purpose of acquisition. He stated any future development on those would be purely speculative at this time and should any development on those properties appear or be desired in the future that would be studied fully under SEQR for the exact development that could be proposed. He stated the Agency recognizes this is promoting economic development in terms of supporting the acquisition of these lands. He stated there is a SEQR resolution before the Board authorizing the adoption of a SEQR determination as a Type I action and issuing a negative declaration for the properties listed on State Route 31.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of a SEQR determination. Motion was carried. Jeff Davis stated this is a resolution authorizing the Executive Director to enter into a purchase contract and any related documents with respect to parcels of property along State Route 31 addressed in SEQR.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the Executive Director to enter into purchase contracts and any related documents with respect to parcels of property.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQRA determination. Motion was carried.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the Executive Director to enter into purchase contract and any related documents with respect to parcels of property. Motion was carried.
Jeff Davis stated this is a resolution authorizing the Executive Director to enter into a purchase contract and any related documents with respect to parcels of property along State Route 31 addressed in SEQR.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the Executive Director to enter into purchase contracts and any related documents with respect to parcels of property.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQRA determination. Motion was carried.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the Executive Director to enter into purchase contract and any related documents with respect to parcels of property. Motion was carried.
Jeff Davis stated the last resolution is in regard to property within the White Pine SEQR study area and the project included the acquisition of the subject property and such acquisition was included in the Agency SEQR review for the project including the evaluation of relevant impacts facts and conclusions associated with expansion of the park. He stated the Draft Supplemental GEIS, the Final Supplemental GEIS and Findings Statements that have been prepared by the Agency and adopted by the Agency, evaluated the relevant impacts, facts and conclusions associated with the acquisition of this additional acreage including the property that is subject to this resolution to accommodate the expansion of the park. He stated ultimately the Agency determined that the project among other feasible alternatives is the one which minimizes or avoids adverse environmental effects to the maximum extent practicable. He stated the acquisition would occur in accordance with the conditions and thresholds in the Final Supplemental GEIS and Findings Statements thus avoiding or mitigating any reasonable practicable adverse environmental impacts. He stated the resolution before the Board is authorizing the adoption of the SEQR determination.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQRA determination. Motion was carried.
Jeff Davis stated the last resolution is in regard to property within the White Pine SEQR study area and the project included the acquisition of the subject property and such acquisition was included in the Agency SEQR review for the project including the evaluation of relevant impacts facts and conclusions associated with expansion of the park. He stated the Draft Supplemental GEIS, the Final Supplemental GEIS and Findings Statements that have been prepared by the Agency and adopted by the Agency, evaluated the relevant impacts, facts and conclusions associated with the acquisition of this additional acreage including the property that is subject to this resolution to accommodate the expansion of the park. He stated ultimately the Agency determined that the project among other feasible alternatives is the one which minimizes or avoids adverse environmental effects to the maximum extent practicable. He stated the acquisition would occur in accordance with the conditions and thresholds in the Final Supplemental GEIS and Findings Statements thus avoiding or mitigating any reasonable practicable adverse environmental impacts. He stated the resolution before the Board is authorizing the adoption of the SEQR determination.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQRA determination. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution authorizing the Executive Director to enter into purchase contracts and any related documents with respect to parcels of property. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution authorizing the Executive Director to enter into purchase contracts and any related documents with respect to parcels of property. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board adjourned the meeting at 9:23 am. Motion was carried.
_________________________________ Nancy Lowery, Secretary
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board adjourned the meeting at 9:23 am. Motion was carried.
_________________________________ Nancy Lowery, Secretary
PHONE: 315.435.3770 • FAX: 315.435.3669 July 31, 2022
Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating Revenue 101,744 2,001,141 1,444,000 557,141 Operating Expense 61,103 342,021 800,000 (457,979) Program Expense 106,839 786,687 644,000 142,687 Net Ordinary Income (66,198) 872,433 - 872,433
PHONE: 315.435.3770 • FAX: 315.435.3669 July 31, 2022
Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating Revenue 101,744 2,001,141 1,444,000 557,141 Operating Expense 61,103 342,021 800,000 (457,979) Program Expense 106,839 786,687 644,000 142,687 Net Ordinary Income (66,198) 872,433 - 872,433 Current Assets Current YTD Prior YTD Total Cash 4,173,738 3,548,746 Less Pass Through Received - - Available Cash 4,173,738 3,548,746 Receivables (less pass through rec.) 110,438 416,351 Grant Reimbursements - - Total 4,284,176 3,965,097 Reserve for Contracts County Operations 2022 457,979 333 W. Washington St 2022 Rent 47,496 OBG WPCP CO #4 Additional Studies 180,349 JMT 800 Hiawatha Engineering 6,657 Barclay Damon WPCP Options - Total 692,481 Receivables 0-120 days 110,438 > 120 days - Total 110,438 Current Assets Current YTD Prior YTD Total Cash 4,173,738 3,548,746 Less Pass Through Received - - Available Cash 4,173,738 3,548,746 Receivables (less pass through rec.) 110,438 416,351 Grant Reimbursements - - Total 4,284,176 3,965,097 Reserve for Contracts County Operations 2022 457,979 333 W. Washington St 2022 Rent 47,496 OBG WPCP CO #4 Additional Studies 180,349 JMT 800 Hiawatha Engineering 6,657 Barclay Damon WPCP Options - Total 692,481 Receivables 0-120 days 110,438 > 120 days - Total 110,438 Onondaga County Industrial Development Agency Profit and Loss July 2022
Income
2116.1 Agency Fees 100,938.00 Total 2116 Fees 100,938.00 2410 Lease Income 750.00 Total 500 Operating Revenue 101,688.00
2401 Interest Income 55.50 Total 501 Non-Operating Revenue 55.50
529 PILOT Income 3,493.81 Total 534 Pilot & Pass Thru Revenue 3,493.81 Total Income $105,237.31 GROSS PROFIT $105,237.31 Expenses
6406.50 Consulting Services 2,500.00 Total 6406 Other Professional Services 2,500.00 6407 Administrative Expense 50,719.36 6408 Meeting Expenses 547.62 6409 Conference Attendence 1,181.32 6410 Office Expense 2,070.57 Total 6400 Operating Expense 57,018.87
6460 IDA General Legal 4,083.75 Total 6450 Barclay Damon 4,083.75 Total 6440 Legal Fees 4,083.75
6510 White Pine Commerce Park 4,827.50 6510.2 Site Analysis 54,825.13 6510.4 Other Expenses 24.61 6510.5 Insurance 5,517.69 6510.6 Taxes/SDC 35,432.76 6510.7 WPCP Marketing 3,438.70 Total 6510 White Pine Commerce Park 104,066.39 Onondaga County Industrial Development Agency Profit and Loss July 2022
Income
2116.1 Agency Fees 100,938.00 Total 2116 Fees 100,938.00 2410 Lease Income 750.00 Total 500 Operating Revenue 101,688.00
2401 Interest Income 55.50 Total 501 Non-Operating Revenue 55.50
529 PILOT Income 3,493.81 Total 534 Pilot & Pass Thru Revenue 3,493.81 Total Income $105,237.31 GROSS PROFIT $105,237.31 Expenses
6406.50 Consulting Services 2,500.00 Total 6406 Other Professional Services 2,500.00 6407 Administrative Expense 50,719.36 6408 Meeting Expenses 547.62 6409 Conference Attendence 1,181.32 6410 Office Expense 2,070.57 Total 6400 Operating Expense 57,018.87
6460 IDA General Legal 4,083.75 Total 6450 Barclay Damon 4,083.75 Total 6440 Legal Fees 4,083.75
6510 White Pine Commerce Park 4,827.50 6510.2 Site Analysis 54,825.13 6510.4 Other Expenses 24.61 6510.5 Insurance 5,517.69 6510.6 Taxes/SDC 35,432.76 6510.7 WPCP Marketing 3,438.70 Total 6510 White Pine Commerce Park 104,066.39 Page 18 Accrual Basis Friday, August 12, 2022 10:17 AM GMT-04:00 1/2 Onondaga County Industrial Development Agency Profit and Loss July 2022
6520.1 435 N Salina Expenses 119.14 Total 6520 North Salina Property Acquisition 119.14 6530 800 Hiawatha Blvd. West 6530.1 Taxes 2,653.46 Total 6530 800 Hiawatha Blvd. West 2,653.46 Total 6500 Agency Program Expenses 106,838.99
6605.2 PILOT Expense 3,493.81 Total 6605 Pilot & Pass Thru Expenses 3,493.81 Total 6600 Non-Operating Expenses 3,493.81 Total Expenses $171,435.42 NET OPERATING INCOME $ -66,198.11 NET INCOME $ -66,198.11 Page 18 Accrual Basis Friday, August 12, 2022 10:17 AM GMT-04:00 1/2 Onondaga County Industrial Development Agency Profit and Loss July 2022
6520.1 435 N Salina Expenses 119.14 Total 6520 North Salina Property Acquisition 119.14 6530 800 Hiawatha Blvd. West 6530.1 Taxes 2,653.46 Total 6530 800 Hiawatha Blvd. West 2,653.46 Total 6500 Agency Program Expenses 106,838.99
6605.2 PILOT Expense 3,493.81 Total 6605 Pilot & Pass Thru Expenses 3,493.81 Total 6600 Non-Operating Expenses 3,493.81 Total Expenses $171,435.42 NET OPERATING INCOME $ -66,198.11 NET INCOME $ -66,198.11 Page 19 Accrual Basis Friday, August 12, 2022 10:17 AM GMT-04:00 2/2 Onondaga County Industrial Development Agency Balance Sheet As of July 31, 2022
Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 3,292,179.94 200.2 Cash - M & T Money Maker Savings 890,465.92 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 4,173,738.04 Total Bank Accounts $4,173,738.04 Accounts Receivable 380 Accounts Rec.
380.6 A/R Fees, Lease & PILOT 110,438.00 Total 380 Accounts Rec. 110,438.00 Total Accounts Receivable $110,438.00 Total Current Assets $4,284,176.04 Fixed Assets
101 White Pines Commerce Park 14,287,319.75
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 Page 19 Accrual Basis Friday, August 12, 2022 10:17 AM GMT-04:00 2/2 Onondaga County Industrial Development Agency Balance Sheet As of July 31, 2022
Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 3,292,179.94 200.2 Cash - M & T Money Maker Savings 890,465.92 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 4,173,738.04 Total Bank Accounts $4,173,738.04 Accounts Receivable 380 Accounts Rec.
380.6 A/R Fees, Lease & PILOT 110,438.00 Total 380 Accounts Rec. 110,438.00 Total Accounts Receivable $110,438.00 Total Current Assets $4,284,176.04 Fixed Assets
101 White Pines Commerce Park 14,287,319.75
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 Page 20 Accrual Basis Friday, August 12, 2022 10:13 AM GMT-04:00 1/3 Onondaga County Industrial Development Agency Balance Sheet As of July 31, 2022
Total 101.3 Engineering Services 67,049.42
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 Total 101 White Pines Commerce Park 16,094,064.28 106 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 100 Land 17,350,409.78
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 $23,435,337.78 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $27,721,155.58 Page 20 Accrual Basis Friday, August 12, 2022 10:13 AM GMT-04:00 1/3 Onondaga County Industrial Development Agency Balance Sheet As of July 31, 2022
Total 101.3 Engineering Services 67,049.42
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 Total 101 White Pines Commerce Park 16,094,064.28 106 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 100 Land 17,350,409.78
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 $23,435,337.78 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $27,721,155.58 Page 21 Accrual Basis Friday, August 12, 2022 10:13 AM GMT-04:00 2/3 Onondaga County Industrial Development Agency Balance Sheet As of July 31, 2022
Liabilities Current Liabilities Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 342,020.32 600.102 Due to BD WPCP 42,216.66 600.205 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 14,971,938.48 600.31 Accrued Interest - OC Note Payable 2,129.00 Total 600.3 Onondaga County Loan 14,974,067.48 Total 600 Accounts Payable 15,384,029.94
603 PILOT Pass Thru 3,493.81 604 Other Pass Thrus -0.30 Total 601 PILOT and Pass Thru Payable 3,493.51
631.356 Syracuse 0.01 Total 631.3 Schools 0.01 631.5 City of Syracuse 0.01 Total 631 Due to Other Governments 0.02 Total Other Current Liabilities $15,387,523.47 Total Current Liabilities $15,387,523.47 Total Liabilities $15,387,523.47 Equity 3900 Equity Unreserved 8,742,531.91 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 692,481.39 465 Equity - Unreserved -319,652.39 Net Income 872,432.57 Total Equity $12,333,632.11 TOTAL LIABILITIES AND EQUITY $27,721,155.58 Page 21 Accrual Basis Friday, August 12, 2022 10:13 AM GMT-04:00 2/3 Onondaga County Industrial Development Agency Balance Sheet As of July 31, 2022
Liabilities Current Liabilities Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 342,020.32 600.102 Due to BD WPCP 42,216.66 600.205 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 14,971,938.48 600.31 Accrued Interest - OC Note Payable 2,129.00 Total 600.3 Onondaga County Loan 14,974,067.48 Total 600 Accounts Payable 15,384,029.94
603 PILOT Pass Thru 3,493.81 604 Other Pass Thrus -0.30 Total 601 PILOT and Pass Thru Payable 3,493.51
631.356 Syracuse 0.01 Total 631.3 Schools 0.01 631.5 City of Syracuse 0.01 Total 631 Due to Other Governments 0.02 Total Other Current Liabilities $15,387,523.47 Total Current Liabilities $15,387,523.47 Total Liabilities $15,387,523.47 Equity 3900 Equity Unreserved 8,742,531.91 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 692,481.39 465 Equity - Unreserved -319,652.39 Net Income 872,432.57 Total Equity $12,333,632.11 TOTAL LIABILITIES AND EQUITY $27,721,155.58 Page 22 Accrual Basis Friday, August 12, 2022 10:13 AM GMT-04:00 3/3 Page 22 Accrual Basis Friday, August 12, 2022 10:13 AM GMT-04:00 3/3
PAYMENT OF BILL - SCHEDULE #472 August 18, 2022
PAYMENT OF BILL - SCHEDULE #472 August 18, 2022
1. BARCLAY DAMON LLP* $ 306,751.74 Purchase of Land 2. BARCLAY DAMON LLP* $ 999,851.97 Purchase of Land 3. BARCLAY DAMON LLP* $ 1,606,554.93 Purchase of Land 4. ONONDAGA COUNTY WATER AUTHORITY* $ 24.61 Final Bill 5181 State Route 31 5. NATIONWIDE* $ 2,416.19 Commericial Liability Insurance Premium 6. BARCLAY DAMON LLP** $ 33,901.32 WPCP Legal Services, Inv#'s 5156607, 5178051, 5173119, 5170125 7. JMT OF NEW YORK, INC.** $ 6,629.61 Roth Steel Brownfield Cleanup, Inv#31-102986, 33-103344 8. ADVANCE MEDIA NEW YORK*** $ 115.40 Fayette Manlius Public Hearing 9. CRYSTAL ROCK*** $ 51.69 Inv#22196031, 8-7-22 10. ROBERT PETROVICH $ 197.97 NYS Capitol Meeting 11. LEONARD RAUCH $ 268.36 SEMICON West Annual Conference 1 Schedule #472
1. BARCLAY DAMON LLP* $ 306,751.74 Purchase of Land 2. BARCLAY DAMON LLP* $ 999,851.97 Purchase of Land 3. BARCLAY DAMON LLP* $ 1,606,554.93 Purchase of Land 4. ONONDAGA COUNTY WATER AUTHORITY* $ 24.61 Final Bill 5181 State Route 31 5. NATIONWIDE* $ 2,416.19 Commericial Liability Insurance Premium 6. BARCLAY DAMON LLP** $ 33,901.32 WPCP Legal Services, Inv#'s 5156607, 5178051, 5173119, 5170125 7. JMT OF NEW YORK, INC.** $ 6,629.61 Roth Steel Brownfield Cleanup, Inv#31-102986, 33-103344 8. ADVANCE MEDIA NEW YORK*** $ 115.40 Fayette Manlius Public Hearing 9. CRYSTAL ROCK*** $ 51.69 Inv#22196031, 8-7-22 10. ROBERT PETROVICH $ 197.97 NYS Capitol Meeting 11. LEONARD RAUCH $ 268.36 SEMICON West Annual Conference 1 Schedule #472 12. NANCY LOWERY $ 51.78 SEMICON West Annual Conference 13. KAREN DOSTER $ 7.60 Office Supplies 14. BARCLAY DAMON LLP $ 1,200.00 Legal Services June 2022, Inv#5182050 15. WIZARD EQUIPMENT, INC. $ 95.00 WPCP Educational Sign, Inv#85666 16. NEW YORK STATE ECONOMIC DEVELOPMENT COUNCIL $ 15,000.00 SEMICON West Annual Conference, Double Gold Sponsorship TOTAL $ 2,973,118.17 *Ratification of Checks dated July 29, 2022 **Ratification of Checks dated August 5, 2022 ***Ratification of Checks dated August 9, 2022 2 12. NANCY LOWERY $ 51.78 SEMICON West Annual Conference 13. KAREN DOSTER $ 7.60 Office Supplies 14. BARCLAY DAMON LLP $ 1,200.00 Legal Services June 2022, Inv#5182050 15. WIZARD EQUIPMENT, INC. $ 95.00 WPCP Educational Sign, Inv#85666 16. NEW YORK STATE ECONOMIC DEVELOPMENT COUNCIL $ 15,000.00 SEMICON West Annual Conference, Double Gold Sponsorship TOTAL $ 2,973,118.17 *Ratification of Checks dated July 29, 2022 **Ratification of Checks dated August 5, 2022 ***Ratification of Checks dated August 9, 2022 2
PAYMENT OF BILL - SCHEDULE #472 August 18, 2022 PILOT Payments 1. ONONDAGA COUNTY $ 1,306.56 Syracuse Rail 2nd Q 2022 PILOT Payment 2. CITY OF SYRACUSE $ 2,032.07 Syracuse Rail 2nd Q 2022 PILOT Payment 3. JAMESVILLE-DEWITT CENTRAL CSD $ 131.07 Syracuse Rail 2nd Q 2022 PILOT Payment 4. TOWN OF DEWITT $ 20.03 Syracuse Rail 2nd Q 2022 PILOT Payment 5. TOWN OF ONONDAGA $ 4.08 Syracuse Rail 2nd Q 2022 PILOT Payment TOTAL $ 3,493.81 1
PAYMENT OF BILL - SCHEDULE #472 August 18, 2022 PILOT Payments 1. ONONDAGA COUNTY $ 1,306.56 Syracuse Rail 2nd Q 2022 PILOT Payment 2. CITY OF SYRACUSE $ 2,032.07 Syracuse Rail 2nd Q 2022 PILOT Payment 3. JAMESVILLE-DEWITT CENTRAL CSD $ 131.07 Syracuse Rail 2nd Q 2022 PILOT Payment 4. TOWN OF DEWITT $ 20.03 Syracuse Rail 2nd Q 2022 PILOT Payment 5. TOWN OF ONONDAGA $ 4.08 Syracuse Rail 2nd Q 2022 PILOT Payment TOTAL $ 3,493.81 1
DESCRIPTION TERM CONTRACT PAID OUTSTANDING ONONDAGA COUNTY OED 2021 1-1-22-12-31-22 $800,000.00 $342,020.76 $457,979.24 333 W. WASHINGTON ST 2022 RENT 1-1-22-12-31-22 $60,000.00 $12,504.00 $47,496.00 OBG WPCP CO #4 ADDITIONAL STUDIES 11-30-18-12-31-22 $800,000.00 $619,651.25 $180,348.75 JMT 800 HIAWATHA ENGINEERING 2/13/19-12-31-22 $25,000.00 $18,342.60 $6,657.40 $1,685,000.00 $992,518.61 $692,481.39
DESCRIPTION TERM CONTRACT PAID OUTSTANDING ONONDAGA COUNTY OED 2021 1-1-22-12-31-22 $800,000.00 $342,020.76 $457,979.24 333 W. WASHINGTON ST 2022 RENT 1-1-22-12-31-22 $60,000.00 $12,504.00 $47,496.00 OBG WPCP CO #4 ADDITIONAL STUDIES 11-30-18-12-31-22 $800,000.00 $619,651.25 $180,348.75 JMT 800 HIAWATHA ENGINEERING 2/13/19-12-31-22 $25,000.00 $18,342.60 $6,657.40 $1,685,000.00 $992,518.61 $692,481.39
AGENCY FEES RECEIVABLE $105,938.00 ACCOUNTS RECEIVABLE GENERAL $4,500.00 TOTAL $110,438.00 Onondaga County Industrial Development Agency Project Summary Draft 8/5/2022 1. Project 1046 Old Seneca Turnpike, LLC 2. Project Number 3101-22-04A 3. Location Skaneateles 4. School District Skaneateles School District
5. Tax Parcel(s) 028.-01-03.0 Village 0
AGENCY FEES RECEIVABLE $105,938.00 ACCOUNTS RECEIVABLE GENERAL $4,500.00 TOTAL $110,438.00 Onondaga County Industrial Development Agency Project Summary Draft 8/5/2022 1. Project 1046 Old Seneca Turnpike, LLC 2. Project Number 3101-22-04A 3. Location Skaneateles 4. School District Skaneateles School District
5. Tax Parcel(s) 028.-01-03.0 Village 0 7.Total Project Cost $ 25,105,000.00 8. Total Jobs 49 Land $ 1,700,000 8A. Job Retention 0 Site Work $ 700,000 8B: Job Creation 49 Building $ 19,000,000 (Next 5 Years) Furniture & Fixtures $ 2,900,000 Equipment $ - Equipment Subject to NYS Production Exemption $ - Engineering/Architecture Fees $ 550,000 Financial Charges $ 215,000 Legal Fees $ 40,000 Other $ - Cost Benefit Analysis 1046 Old Seneca Turnpike, LLC Project Description Fiscal Impact ($) Estimated Abatement Cost $1,228,087 Sales Tax Abatement $1,084,800 Mortgage Recording Tax Abatement $143,287 Real Property Tax Relief $0 7.Total Project Cost $ 25,105,000.00 8. Total Jobs 49 Land $ 1,700,000 8A. Job Retention 0 Site Work $ 700,000 8B: Job Creation 49 Building $ 19,000,000 (Next 5 Years) Furniture & Fixtures $ 2,900,000 Equipment $ - Equipment Subject to NYS Production Exemption $ - Engineering/Architecture Fees $ 550,000 Financial Charges $ 215,000 Legal Fees $ 40,000 Other $ - Cost Benefit Analysis 1046 Old Seneca Turnpike, LLC Project Description Fiscal Impact ($) Estimated Abatement Cost $1,228,087 Sales Tax Abatement $1,084,800 Mortgage Recording Tax Abatement $143,287 Real Property Tax Relief $0 New Investment $60,187,914 PILOT Payments $0 This project is ocated on a 31 acre site at 1046 Old Seneca Turnpike in Skaneateles, the project Project Wages (10 years) $22,452,540 will be a 98,000 sf, 88 room full-service, boutique hotel in association with the Hilton Curio Construction Wages $2,611,800 Collection brand. Expected to open in fall 2023, guest amenities will include a fullservice restaurant with banquet capacity, an indoor pool, an indoor whirlpool, an outdoor pool, a fitness Employee Benefits (10 years) $13,471,524 room, and a gift shop. Project Capital Investment $21,400,000 Agency Fees $252,050 Benefit:Cost Ratio 49.01 :1 New Investment $60,187,914 PILOT Payments $0 This project is ocated on a 31 acre site at 1046 Old Seneca Turnpike in Skaneateles, the project Project Wages (10 years) $22,452,540 will be a 98,000 sf, 88 room full-service, boutique hotel in association with the Hilton Curio Construction Wages $2,611,800 Collection brand. Expected to open in fall 2023, guest amenities will include a fullservice restaurant with banquet capacity, an indoor pool, an indoor whirlpool, an outdoor pool, a fitness Employee Benefits (10 years) $13,471,524 room, and a gift shop. Project Capital Investment $21,400,000 Agency Fees $252,050 Benefit:Cost Ratio 49.01 :1
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.
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! 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!
· 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! 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
· 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! 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
Please answer all questions. Use “None”, “Not Applicable” and “See Attached” where necessary.
Submittal Date: _____________
A) Applicant/Project Operator information (company receiving benefits):
Applicant/Project Operator: Click here to enter text. 1046 Old Seneca Turnpike LLC
Applicant/ Project Operator Address: 505 E. Fayette Street, Syracuse, NY 13202 Phone: (315) 569-7419 Fax:
Website: E-mail: nswanson@woodbinegroup.com Federal ID#: 81-1051078 NAICS: 721110 State and Year of Incorporation/Organization: __________________________________________ New York 2016 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: Rob Kelsey Title: CFO Address: 505 E. Fayette Street, Syracuse, NY 13202 Phone: (315) 552-8539 Fax:
E-mail: rkelsey@woodbinegroup.com Onondaga!County!Industrial!Development!Agency! Page!1! Please answer all questions. Use “None”, “Not Applicable” and “See Attached” where necessary.
Submittal Date: _____________
A) Applicant/Project Operator information (company receiving benefits):
Applicant/Project Operator: Click here to enter text. 1046 Old Seneca Turnpike LLC
Applicant/ Project Operator Address: 505 E. Fayette Street, Syracuse, NY 13202 Phone: (315) 569-7419 Fax:
Website: E-mail: nswanson@woodbinegroup.com Federal ID#: 81-1051078 NAICS: 721110 State and Year of Incorporation/Organization: __________________________________________ New York 2016 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: Rob Kelsey Title: CFO Address: 505 E. Fayette Street, Syracuse, NY 13202 Phone: (315) 552-8539 Fax:
E-mail: rkelsey@woodbinegroup.com Onondaga!County!Industrial!Development!Agency! Page!1! C) Company Contact (if different from individual completing application):
Name:
Title:
Address:
Phone: Cell Phone:
E-mail:
D) Company Counsel:
Name of Attorney: Kevin McAuliffe Firm Name: Barclay Damon Address: 125 East Jefferson Street, Syracuse, NY 13202 Phone: (315) 425-2875 Cell Phone: (315) 382-8703 E-mail: KMcAuliffe@barclaydamon.com E) Business Organization (check appropriate category):
܆Corporation ܆Partnership ܆Public Corporation ܆Joint Venture ܆Sole Proprietorship ܆Limited Liability Company ܆Other (please specify):
Year Established: 2016 State in which Organization is established: New York F) List all stockholders, members, or partners with % of ownership greater than 5%: Name % of ownership Norman E. Swanson 100% Onondaga!County!Industrial!Development!Agency! Page!2! G) Applicant Business Description:
Estimated % of sales within Onondaga County: ________________________________________ 48% Estimated % of sales outside Onondaga County but within New York State: 40% C) Company Contact (if different from individual completing application):
Name:
Title:
Address:
Phone: Cell Phone:
E-mail:
D) Company Counsel:
Name of Attorney: Kevin McAuliffe Firm Name: Barclay Damon Address: 125 East Jefferson Street, Syracuse, NY 13202 Phone: (315) 425-2875 Cell Phone: (315) 382-8703 E-mail: KMcAuliffe@barclaydamon.com E) Business Organization (check appropriate category):
܆Corporation ܆Partnership ܆Public Corporation ܆Joint Venture ܆Sole Proprietorship ܆Limited Liability Company ܆Other (please specify):
Year Established: 2016 State in which Organization is established: New York F) List all stockholders, members, or partners with % of ownership greater than 5%: Name % of ownership Norman E. Swanson 100% Onondaga!County!Industrial!Development!Agency! Page!2! G) Applicant Business Description:
Estimated % of sales within Onondaga County: ________________________________________ 48% Estimated % of sales outside Onondaga County but within New York State: 40% Estimated % of sales outside New York State but within the U.S.: 10% Estimated % of sales outside the U.S.: 2% (*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.
܆Yes ܆No plaintiff or defendant in any civil or criminal litigation?
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!
Estimated % of sales outside New York State but within the U.S.: 10% Estimated % of sales outside the U.S.: 2% (*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.
܆Yes ܆No plaintiff or defendant in any civil or criminal litigation?
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!
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: 1046 Old Seneca Turnpike, Skaneateles, NY 13152 Legal Address (if different):
City: Village/Town: Town of Skaneateles Zip Code: School District: Skaneateles Tax Map Parcel ID(s): 028.-01-03.0 Full Market Value: ________________ $124,000 Footage of Existing Building: _________________ 0 Census Tract: ___________________________________________________________________
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: 1046 Old Seneca Turnpike, Skaneateles, NY 13152 Legal Address (if different):
City: Village/Town: Town of Skaneateles Zip Code: School District: Skaneateles Tax Map Parcel ID(s): 028.-01-03.0 Full Market Value: ________________ $124,000 Footage of Existing Building: _________________ 0 Census Tract: ___________________________________________________________________
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. 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.
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? _______________________________________________________ Planning Board Approved May 20, 2020.
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? ________________________________ Planning Board Approved May 20, 2020. 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.)
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.
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? _______________________________________________________ Planning Board Approved May 20, 2020.
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? ________________________________ Planning Board Approved May 20, 2020. 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.)
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!
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 $1,700,000 Site Work/Demo $700,000 Building Construction & Renovation $19,000,000 Furniture & Fixtures $2,900,000 Equipment* Engineering/Architect $550,000 sFinancial Charges $215,000 Legal $40,000 Other Management/Developer Fees Total Project Cost $25,105,000 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 $ 25,105,000 Onondaga!County!Industrial!Development!Agency! Page!6!
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 $1,700,000 Site Work/Demo $700,000 Building Construction & Renovation $19,000,000 Furniture & Fixtures $2,900,000 Equipment* Engineering/Architect $550,000 sFinancial Charges $215,000 Legal $40,000 Other Management/Developer Fees Total Project Cost $25,105,000 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 $ 25,105,000 Project refinancing: estimated amount (For refinancing of existing debt only) $0 Sources of Funds for Project Costs:
1. Bank Financing $ _______________
2. Equity (excluding equity that is attributed to grants/tax credits) $ 6,000,000 3. Tax Exempt Bond Issuance (if applicable) $ _______________
Onondaga!County!Industrial!Development!Agency! Page!7!
and tax credits) $ 0 Project refinancing: estimated amount (For refinancing of existing debt only) $0 Sources of Funds for Project Costs:
1. Bank Financing $ _______________
2. Equity (excluding equity that is attributed to grants/tax credits) $ 6,000,000 3. Tax Exempt Bond Issuance (if applicable) $ _______________
Onondaga!County!Industrial!Development!Agency! Page!7!
and tax credits) $ 0 -Identify each state and federal grant/credit:
$ $ $ 6. Total Sources of Funds for Project Costs $ _______________
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.
܆Yes ܆No If yes, provide number of FTE jobs at the facility:
-Identify each state and federal grant/credit:
$ $ $ 6. Total Sources of Funds for Project Costs $ _______________
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.
܆Yes ܆No If yes, provide number of FTE jobs at the facility:
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: 60 Estimate the average length of construction jobs to be created (months): 12 Current annual payroll at facility: 0 Please list, if any, benefits that will be available to either full and/or part time Company supplemented Group Health Insurance. employees:
Average annual benefit paid by the company ($ or % salary) per FTE job: 60% Amount or percent of wage employees pay for benefits: 8% Provide an estimate of the number of
residents in the Economic Development Region (Onondaga, Madison, Cayuga, 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: 60 Estimate the average length of construction jobs to be created (months): 12 Current annual payroll at facility: 0 Please list, if any, benefits that will be available to either full and/or part time Company supplemented Group Health Insurance. employees:
Average annual benefit paid by the company ($ or % salary) per FTE job: 60% Amount or percent of wage employees pay for benefits: 8% Provide an estimate of the number of
residents in the Economic Development Region (Onondaga, Madison, Cayuga, 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) n/a 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 Professional $65,000 6 1 1 Clerical $48,000 6 3 Service $35,000 22 5 5 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) n/a 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 Professional $65,000 6 1 1 Clerical $48,000 6 3 Service $35,000 22 5 5 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):
܆Mortgage Recording Tax Exemption (.75% of amount mortgaged): $143,287.50 ܆Sales and Use Tax Exemption (4% Local, 4% State): $1,084,800 ܆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): $ Estimated Mortgage Recording Tax Exemption Benefit (product of mortgage amount as indicated above, multiplied by .0075): $ 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:
$ 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):
܆Mortgage Recording Tax Exemption (.75% of amount mortgaged): $143,287.50 ܆Sales and Use Tax Exemption (4% Local, 4% State): $1,084,800 ܆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): $ Estimated Mortgage Recording Tax Exemption Benefit (product of mortgage amount as indicated above, multiplied by .0075): $ 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:
$
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