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1- PHONE: 315.435.3770 • FAX: 315.435.3669 • ONGOVED.COM Regular Meeting Agenda January 18, 2024 8:30AM Call to Order the Governance Committee 8:35 AM Call to Order the Organizational 8:40AM Call to Order the Regular Meeting of the Agency A. Approval of Minutes-December 14, 2023 B. Treasurer’s Report C. Payment of Bills D. Conflict of Interest Action Items:
Modification Meeting Treyjay Loso, LLC is requesting an extension of the termination date of their Sales and Use Tax Exemption Agency Action Requested:
a. A resolution of the Board authorizing an extension to the Sales and Use Tax Exemption for Treyjay Loso, LLC.
Representative: Robert Petrovich, OCIDA Executive Director
1- PHONE: 315.435.3770 • FAX: 315.435.3669 • ONGOVED.COM Regular Meeting Agenda January 18, 2024 8:30AM Call to Order the Governance Committee 8:35 AM Call to Order the Organizational 8:40AM Call to Order the Regular Meeting of the Agency A. Approval of Minutes-December 14, 2023 B. Treasurer’s Report C. Payment of Bills D. Conflict of Interest Action Items:
Modification Meeting Treyjay Loso, LLC is requesting an extension of the termination date of their Sales and Use Tax Exemption Agency Action Requested:
a. A resolution of the Board authorizing an extension to the Sales and Use Tax Exemption for Treyjay Loso, LLC.
Representative: Robert Petrovich, OCIDA Executive Director 2. Bluefors Cryocooler Technologies Inc. (formerly Cryomech, Inc) (3101-22-08A) Modification Meeting Bluefors is requesting an increase to their sales and use tax exemption amount and an extension of the end date of their sales and use tax exemption.
Agency Action Requested:
a. A resolution of the Board authorizing an increase to their sales and use tax exemption amount and an extension of the end date of their sales and use tax exemption.
Representative:Blueforce Representative
The Agency is proposing to issue a request for proposals for a firm to provide all necessary consulting services to support the mission of the Agency and other relevant work as directed.
Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for governmental services.
Representative: Robert Petrovich, OCIDA Executive Director
The Agency is proposing to issue a request for proposals for audit services. Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for audit services.
Representative: Robert Petrovich, OCIDA Executive Director
The Agency is proposing to issue a request for proposals for legal services. 2. Bluefors Cryocooler Technologies Inc. (formerly Cryomech, Inc) (3101-22-08A) Modification Meeting Bluefors is requesting an increase to their sales and use tax exemption amount and an extension of the end date of their sales and use tax exemption.
Agency Action Requested:
a. A resolution of the Board authorizing an increase to their sales and use tax exemption amount and an extension of the end date of their sales and use tax exemption.
Representative:Blueforce Representative
The Agency is proposing to issue a request for proposals for a firm to provide all necessary consulting services to support the mission of the Agency and other relevant work as directed.
Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for governmental services.
Representative: Robert Petrovich, OCIDA Executive Director
The Agency is proposing to issue a request for proposals for audit services. Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for audit services.
Representative: Robert Petrovich, OCIDA Executive Director
The Agency is proposing to issue a request for proposals for legal services. Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for legal services.
Representative: Robert Petrovich, OCIDA Executive Director
The Agency is proposing to issue a request for proposals for banking and financial services.
Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for banking and financial services.
Representative: Robert Petrovich, OCIDA Executive Director
Adjourn 2
Onondaga County Industrial Development Agency Regular Meeting Minutes December 14, 2023 A regular meeting of the Onondaga County Industrial Development Agency was held on Thursday, December 14, 2023, 335 Montgomery Street, Floor 2M, Syracuse, New York. Patrick Hogan called the meeting to order at 8:36 am with the following:
PRESENT:
Patrick Hogan Janice Herzog Susan Stanczyk Kevin Ryan Fanny Villarreal Cydney Johnson Elizabeth Dreyfuss
ABSENT:
Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for legal services.
Representative: Robert Petrovich, OCIDA Executive Director
The Agency is proposing to issue a request for proposals for banking and financial services.
Agency Action Requested a. A resolution of the Board to authorize the issuance of a request for proposals for banking and financial services.
Representative: Robert Petrovich, OCIDA Executive Director
Adjourn 2
Onondaga County Industrial Development Agency Regular Meeting Minutes December 14, 2023 A regular meeting of the Onondaga County Industrial Development Agency was held on Thursday, December 14, 2023, 335 Montgomery Street, Floor 2M, Syracuse, New York. Patrick Hogan called the meeting to order at 8:36 am with the following:
PRESENT:
Patrick Hogan Janice Herzog Susan Stanczyk Kevin Ryan Fanny Villarreal Cydney Johnson Elizabeth Dreyfuss
ABSENT:
ALSO PRESENT:
Robert M. Petrovich, Executive Director Nancy Lowery, Secretary Svetlana Dyer, Secretary Nate Stevens, Treasurer Karen Doster, Recording Secretary Alexis Rodriguez, Assistant Treasurer Len Rauch, Economic Development Jeff Davis, Barclay Damon Law Firm Amanda Fitzgerald, Barclay Damon Law Firm Leila Dwyer, Barclay Damon Law Firm Christopher Andreucci, Harris Beach Law Firm Deepa Francis, Armoured One Kate Johnson, COR Inner Harbor Company, LLC David Aitken, Destiny Zach Benjamin, Destiny Bob Smith, Costello & Cooney & Fearon John DeSantis, Onondaga County Legislature Glenn Coin, Post Standard APPROVAL OF REGULAR MEETING MINUTES – NOVEMBER 9, 2023 Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved the regular meeting minutes of November 9, 2023. Motion was carried.
TREASURER’S REPORT Alexis Rodriguez gave a brief review of the Treasurer’s Report for the month of November 2023.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved the Treasurer’s Report for the month of November 2023. Motion was carried.
ALSO PRESENT:
Robert M. Petrovich, Executive Director Nancy Lowery, Secretary Svetlana Dyer, Secretary Nate Stevens, Treasurer Karen Doster, Recording Secretary Alexis Rodriguez, Assistant Treasurer Len Rauch, Economic Development Jeff Davis, Barclay Damon Law Firm Amanda Fitzgerald, Barclay Damon Law Firm Leila Dwyer, Barclay Damon Law Firm Christopher Andreucci, Harris Beach Law Firm Deepa Francis, Armoured One Kate Johnson, COR Inner Harbor Company, LLC David Aitken, Destiny Zach Benjamin, Destiny Bob Smith, Costello & Cooney & Fearon John DeSantis, Onondaga County Legislature Glenn Coin, Post Standard APPROVAL OF REGULAR MEETING MINUTES – NOVEMBER 9, 2023 Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved the regular meeting minutes of November 9, 2023. Motion was carried.
TREASURER’S REPORT Alexis Rodriguez gave a brief review of the Treasurer’s Report for the month of November 2023.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved the Treasurer’s Report for the month of November 2023. Motion was carried.
Alexis Rodriguez gave a brief review of the Payment of Bills Schedule #488.
Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved the Payment of Bills Schedule #488 for $531,218.14 with PILOT payments to Onondaga County for $1,406.83, Town of Onondaga for $4.29 and Town of DeWitt for $21.56. Motion was carried.
Alexis Rodriguez gave a brief review of the Payment of Bills Schedule #488.
Upon a motion by Janice Herzog, seconded by Fanny Villarreal, the OCIDA Board approved the Payment of Bills Schedule #488 for $531,218.14 with PILOT payments to Onondaga County for $1,406.83, Town of Onondaga for $4.29 and Town of DeWitt for $21.56. Motion was carried.
The Conflict of Interest was circulated and Janice Herzog had a conflict related to Destiny USA. No other conflicts.
The Conflict of Interest was circulated and Janice Herzog had a conflict related to Destiny USA. No other conflicts.
Robert Petrovich stated this is a request from Armoured One to extend their sales and use tax benefits. He stated the project is progressing but they are going a bit slower than anticipated. He stated they are rebounding from COVID, which had a dramatic effect on their business as a result of school closures and other restrictions. He stated they are advancing the project and his recommendation would be to extend their sales and use tax benefit.
Upon a motion by Kevin Ryan, seconded by Fanny Villarreal, the OCIDA Board approved a resolution authorizing an extension to the Sales and Use tax Exemption for Armoured One, LLC and North Midler Properties, LLC. Motion was carried.
2 COR INNER HARBOR COMPANY, LLC (3101-15-14A) – MOFICIATION MEETING Robert Petrovich stated this is a sales and use tax one year extension request. He stated the company has come before the Board previously and this will be the fourth or fifth extension. He stated this is sub project 1 and they have a bit of work left to do. He stated it is on track and his recommendation to the Board is authorizing an extension recognizing this will be the last extension.
Robert Petrovich stated this is a request from Armoured One to extend their sales and use tax benefits. He stated the project is progressing but they are going a bit slower than anticipated. He stated they are rebounding from COVID, which had a dramatic effect on their business as a result of school closures and other restrictions. He stated they are advancing the project and his recommendation would be to extend their sales and use tax benefit.
Upon a motion by Kevin Ryan, seconded by Fanny Villarreal, the OCIDA Board approved a resolution authorizing an extension to the Sales and Use tax Exemption for Armoured One, LLC and North Midler Properties, LLC. Motion was carried.
2 COR INNER HARBOR COMPANY, LLC (3101-15-14A) – MOFICIATION MEETING Robert Petrovich stated this is a sales and use tax one year extension request. He stated the company has come before the Board previously and this will be the fourth or fifth extension. He stated this is sub project 1 and they have a bit of work left to do. He stated it is on track and his recommendation to the Board is authorizing an extension recognizing this will be the last extension.
Upon a motion by Elizabeth Dreyfuss, seconded by Janice Herzog, the OCIDA Board approved a resolution authorizing the extension of the sales and use tax exemption for COR Van Rensselaer Street Company II, LLC and COR Van Rensselaer St. Company III, Inc. (COR Inner Harbor Company, LLC Sub Project 1) and being the last extension granted. Motion was carried. Upon a motion by Elizabeth Dreyfuss, seconded by Janice Herzog, the OCIDA Board approved a resolution authorizing the extension of the sales and use tax exemption for COR Van Rensselaer Street Company II, LLC and COR Van Rensselaer St. Company III, Inc. (COR Inner Harbor Company, LLC Sub Project 1) and being the last extension granted. Motion was carried.
Amanda Fitzgerald stated Destiny USA Real Estate LLC is a project that received financial assistance from the Agency back in 2016 and entered into a straight lease transaction. She stated the project is approximately 183,000 sq. ft hotel located in the City of Syracuse on Hiawatha Boulevard. She stated the company is requesting the sale of the project from the current company, Destiny USA to EH 26 LLC. She stated in connection with the sale the company has already received approval for a subdivision from the City of Syracuse which divides the current land that is part of the straight lease transaction from a 10 acre parcel to a 6 acre parcel and a 4 acre parcel. She stated the 4 acre parcel will remain in ownership with Destiny USA and is an undeveloped parcel. She stated the 6 acre parcel is the parcel that will be sold to the EH 26 Company and the PILOT will remain on that 6 acre parcel. She stated staff has done due diligence on EH 26, LLC and it is part of a larger investment group, the Excelsior group, which has extensive holdings and extensive experience in the hotel management company. She stated as part of the closing they will enter into the Agency company documents, confirm they will step into the shoes of Destiny and continue to assume all of the responsibilities of Destiny under the current IDA documents.
Amanda Fitzgerald stated Destiny USA Real Estate LLC is a project that received financial assistance from the Agency back in 2016 and entered into a straight lease transaction. She stated the project is approximately 183,000 sq. ft hotel located in the City of Syracuse on Hiawatha Boulevard. She stated the company is requesting the sale of the project from the current company, Destiny USA to EH 26 LLC. She stated in connection with the sale the company has already received approval for a subdivision from the City of Syracuse which divides the current land that is part of the straight lease transaction from a 10 acre parcel to a 6 acre parcel and a 4 acre parcel. She stated the 4 acre parcel will remain in ownership with Destiny USA and is an undeveloped parcel. She stated the 6 acre parcel is the parcel that will be sold to the EH 26 Company and the PILOT will remain on that 6 acre parcel. She stated staff has done due diligence on EH 26, LLC and it is part of a larger investment group, the Excelsior group, which has extensive holdings and extensive experience in the hotel management company. She stated as part of the closing they will enter into the Agency company documents, confirm they will step into the shoes of Destiny and continue to assume all of the responsibilities of Destiny under the current IDA documents.
Kevin Ryan asked if they are just selling the hotel to a different group and we are going to continue to own the parcel between the hotel and solar street. Amanda Fitzgerald stated yes. 3 Patrick Hogan asked if the parcel will go back on the city tax rolls. Amanda Fitzgerald stated part of the ask is that the undeveloped parcel be released from the PILOT and that 4 acre parcel will go back on the tax rolls and assessed for full taxes.
Patrick Hogan asked of the Agency has done this before where the PILOT agreement is transferred. Amanda Fitzgerald stated the Agency has done this before but the subdivision of the parcel is a unique twist. She stated the fact that the full PILOT will remain on the developed parcel assures there is no change to the financial assistance that the Board has approved. Susan Stanczyk asked what year is the PILOT at. Amanda Fitzgerald stated 2024 will be year 7. Upon a motion by Susan Stanczyk, seconded by Fanny Villarreal, the OCIDA Board approved a resolution approving the subdivision of the Destiny USA Real Estate, LLC project facility, authorizing a release of a portion of the Agency’s leasehold interest in the Project Facility and consenting to the sale and assignment of the right, title and interest in a project facility by Destiny USA Real Estate, LLC to EH26, LLC. Janice Herzog abstained. Motion was carried. Kevin Ryan asked if they are just selling the hotel to a different group and we are going to continue to own the parcel between the hotel and solar street. Amanda Fitzgerald stated yes. 3 Patrick Hogan asked if the parcel will go back on the city tax rolls. Amanda Fitzgerald stated part of the ask is that the undeveloped parcel be released from the PILOT and that 4 acre parcel will go back on the tax rolls and assessed for full taxes.
Patrick Hogan asked of the Agency has done this before where the PILOT agreement is transferred. Amanda Fitzgerald stated the Agency has done this before but the subdivision of the parcel is a unique twist. She stated the fact that the full PILOT will remain on the developed parcel assures there is no change to the financial assistance that the Board has approved. Susan Stanczyk asked what year is the PILOT at. Amanda Fitzgerald stated 2024 will be year 7. Upon a motion by Susan Stanczyk, seconded by Fanny Villarreal, the OCIDA Board approved a resolution approving the subdivision of the Destiny USA Real Estate, LLC project facility, authorizing a release of a portion of the Agency’s leasehold interest in the Project Facility and consenting to the sale and assignment of the right, title and interest in a project facility by Destiny USA Real Estate, LLC to EH26, LLC. Janice Herzog abstained. Motion was carried.
BY GENERAL MUNICIAPL LAW SECTION 874(12).
Nancy Lowery stated this is a review the Board does every year of the projects report on employment numbers they are committed to as part of their benefits. She stated no one has fallen under the recapture except one company that we will talk about but everyone else met their commitments to their employment numbers. She stated one company, Flex-Hose, did not meet their commitment. She stated there is an agreement that staff would like to put before the Board. Robert Petrovich stated Flex-Hose has fallen below the requirements as stipulated in the agreement but it is not a dark story. He stated Flex hose originally was in two buildings located in the East Syracuse-Dewitt area. He stated they sold both of those buildings because they outgrew the space and invested into a new larger off Buckley Road and invested several million dollars into that new facility. He stated the positive is they sold their two smaller buildings, those are fully occupied and they are in the new facility. He stated when they came to us, they expected some efficiencies with respect to their new layout and they experienced greater efficiencies. He stated their business is growing but because of COVID and challenges with 4
BY GENERAL MUNICIAPL LAW SECTION 874(12).
Nancy Lowery stated this is a review the Board does every year of the projects report on employment numbers they are committed to as part of their benefits. She stated no one has fallen under the recapture except one company that we will talk about but everyone else met their commitments to their employment numbers. She stated one company, Flex-Hose, did not meet their commitment. She stated there is an agreement that staff would like to put before the Board. Robert Petrovich stated Flex-Hose has fallen below the requirements as stipulated in the agreement but it is not a dark story. He stated Flex hose originally was in two buildings located in the East Syracuse-Dewitt area. He stated they sold both of those buildings because they outgrew the space and invested into a new larger off Buckley Road and invested several million dollars into that new facility. He stated the positive is they sold their two smaller buildings, those are fully occupied and they are in the new facility. He stated when they came to us, they expected some efficiencies with respect to their new layout and they experienced greater efficiencies. He stated their business is growing but because of COVID and challenges with 4 workforce, they are not hitting the employment numbers that they put forward originally in their application. He stated he thinks that you could say maybe they were too optimistic or too aggressive because there was a confluence of a couple of different factors. He stated one is the efficiencies they realized were far greater being in a single building on a single floor in terms of their manufacturing process. He stated in addition there were workforce issues related to COVID. He stated the company is being successful and it is a growing business. He stated they are lagging a bit on meeting employment numbers and have 32 current employees. He stated the recommendation is to revise the employment numbers to reflect they will add 5 additional new employees. He stated at the same time, they have been stymied by a new piece of equipment they are looking to install and having a challenge with National Grid in getting the approval to connect the equipment, which will then necessitate additional staff to operate that piece of equipment. He stated that will help them get to their number. He stated his recommendation is not going down the road of recapture because it is a business that is succeeding in the area and although their employment numbers are lagging a bit they are working to rectify that through a BOCES partnership and MACNY apprenticeship training. He stated he thinks they will get there. He stated the recommendation is we don't recapture and to modify the agreement to reflect the new employment numbers.
workforce, they are not hitting the employment numbers that they put forward originally in their application. He stated he thinks that you could say maybe they were too optimistic or too aggressive because there was a confluence of a couple of different factors. He stated one is the efficiencies they realized were far greater being in a single building on a single floor in terms of their manufacturing process. He stated in addition there were workforce issues related to COVID. He stated the company is being successful and it is a growing business. He stated they are lagging a bit on meeting employment numbers and have 32 current employees. He stated the recommendation is to revise the employment numbers to reflect they will add 5 additional new employees. He stated at the same time, they have been stymied by a new piece of equipment they are looking to install and having a challenge with National Grid in getting the approval to connect the equipment, which will then necessitate additional staff to operate that piece of equipment. He stated that will help them get to their number. He stated his recommendation is not going down the road of recapture because it is a business that is succeeding in the area and although their employment numbers are lagging a bit they are working to rectify that through a BOCES partnership and MACNY apprenticeship training. He stated he thinks they will get there. He stated the recommendation is we don't recapture and to modify the agreement to reflect the new employment numbers.
Susan Stanczyk asked what their original employment goal was. Robert Petrovich stated 50 and he thinks they were very optimistic. He stated it just didn't happen and had they been a bit more conservative we would probably not be having this conversation.
Patrick Hogan asked if they thought the labor pool would be larger. Robert Petrovich stated with the distillation of their operating process, they knew they were going to get some efficiencies but they realized about 40% efficiency increase in their manufacturing operation. He stated they haven't let anybody go and had some attrition through retirement. He stated they are trying to backfill with additional staff but like everyone in the skilled trades area, they are having trouble getting there.
Upon a motion by, Elizabeth Dreyfuss, seconded by Janice Herzog, the OCIDA Board approved a resolution determining no recapture and authorizing the execution and delivery of an amendment to the Project Agreement in connection with a certain project for Flex-Hose Company, Inc. and FHC Properties, LLC. Motion was carried.
5 MICRON NEW YORK SEMICONDUCOR MANUFACTURING, LLC (3101-23-07A) –
Susan Stanczyk asked what their original employment goal was. Robert Petrovich stated 50 and he thinks they were very optimistic. He stated it just didn't happen and had they been a bit more conservative we would probably not be having this conversation.
Patrick Hogan asked if they thought the labor pool would be larger. Robert Petrovich stated with the distillation of their operating process, they knew they were going to get some efficiencies but they realized about 40% efficiency increase in their manufacturing operation. He stated they haven't let anybody go and had some attrition through retirement. He stated they are trying to backfill with additional staff but like everyone in the skilled trades area, they are having trouble getting there.
Upon a motion by, Elizabeth Dreyfuss, seconded by Janice Herzog, the OCIDA Board approved a resolution determining no recapture and authorizing the execution and delivery of an amendment to the Project Agreement in connection with a certain project for Flex-Hose Company, Inc. and FHC Properties, LLC. Motion was carried.
5 MICRON NEW YORK SEMICONDUCOR MANUFACTURING, LLC (3101-23-07A) –
Jeff Davis stated as the Board recalls on July 20 a resolution was passed to seek lead agency status. He stated at the September 14 meeting lead agency status was established. He stated a positive declaration was issued under SEQR, accepted a draft SEQR Scope and was put out for public comment. He stated a public scoping hearing was scheduled and it was conducted on October 11. He stated the public comment period was open beyond the required 30 day limit under the statute and was held until October 31, 2023. He stated 39 individuals or organizations commented with numerous comments within each comment. He stated the Agency consultant company, JMT and legal staff at Barclay Damon went through those comments working with the
applicant, Micron, and before the Board is a resolution to adopt the final scoping document in accordance with NYCRR 617.8 declaring the final scoping document as complete. He stated that will allow the environmental review process as part of the EIS, the development of a draft environmental impact statement to proceed.
Elizabeth Dreyfuss stated it was great to see the comment period was lengthy enough for people to be involved. She stated there were a lot of great comments, a lot about green space preservation for both humans and animals and about the energy and where it is coming from, how it's getting there and how it will be processed. She stated as well as the traffic which is a separate project, but impactful about this project as well.
Jeff Davis stated as the Board recalls on July 20 a resolution was passed to seek lead agency status. He stated at the September 14 meeting lead agency status was established. He stated a positive declaration was issued under SEQR, accepted a draft SEQR Scope and was put out for public comment. He stated a public scoping hearing was scheduled and it was conducted on October 11. He stated the public comment period was open beyond the required 30 day limit under the statute and was held until October 31, 2023. He stated 39 individuals or organizations commented with numerous comments within each comment. He stated the Agency consultant company, JMT and legal staff at Barclay Damon went through those comments working with the
applicant, Micron, and before the Board is a resolution to adopt the final scoping document in accordance with NYCRR 617.8 declaring the final scoping document as complete. He stated that will allow the environmental review process as part of the EIS, the development of a draft environmental impact statement to proceed.
Elizabeth Dreyfuss stated it was great to see the comment period was lengthy enough for people to be involved. She stated there were a lot of great comments, a lot about green space preservation for both humans and animals and about the energy and where it is coming from, how it's getting there and how it will be processed. She stated as well as the traffic which is a separate project, but impactful about this project as well.
Jeff Davis stated it will be posted to OCIDA’s website later today. He stated all the public comments were posted and the final scope will be posted assuming it is passed by the Board as well as a response to comments which is helpful to guide you through the various areas of the comments that were collected throughout the process. He stated the comments were incorporated into the final scope and some of the comments are just noted comments. Patrick Hogan stated he would like to commend the staff and everybody involved. He stated it was thorough and exhaustive. He stated it shows how serious these matters are.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution adopting the MICRON Final Scoping Document. Motion was carried.
6 APPOINTMENTS – OCIDA BOARD TO APPOINT SVETLANA DYER AS AGENCY
Jeff Davis stated it will be posted to OCIDA’s website later today. He stated all the public comments were posted and the final scope will be posted assuming it is passed by the Board as well as a response to comments which is helpful to guide you through the various areas of the comments that were collected throughout the process. He stated the comments were incorporated into the final scope and some of the comments are just noted comments. Patrick Hogan stated he would like to commend the staff and everybody involved. He stated it was thorough and exhaustive. He stated it shows how serious these matters are.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution adopting the MICRON Final Scoping Document. Motion was carried.
6 APPOINTMENTS – OCIDA BOARD TO APPOINT SVETLANA DYER AS AGENCY
Robert Petrovich stated Nancy Lowery is taking on a new role at the County Executive’s Office as Director of Intergovernmental Relations. He stated she is going to be amazing in that role. He stated she was amazing at her time here with us and she is going to be sorely missed. He stated we are going to miss her but we are excited Svetlana is going to be taking over. He stated she is coming up on a year with us and has been amazing. He stated she has been fully engaged in the IDA. He stated she has been working on the cost benefit analysis process trying to simplify it and make it user friendly. He stated he wholeheartedly encourages the Board to appoint Svetlana Dyer as our secretary.
Nancy Lowery stated this has probably been one of the most interesting jobs she has ever had. She stated when she came on, the next month the pandemic hit and everything shifted. She stated this team, Board, staff pivoted and reacted so appropriately to support this community. She stated the office continued to operate every month and then shifted into such amazing work with Micron. She stated between what the legal team, staff and the Board has done, she will miss this.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution appointing Svetlana Dyer as Agency Secretary and Agency Public Hearing Officer. Motion was carried.
Robert Petrovich stated Nancy Lowery is taking on a new role at the County Executive’s Office as Director of Intergovernmental Relations. He stated she is going to be amazing in that role. He stated she was amazing at her time here with us and she is going to be sorely missed. He stated we are going to miss her but we are excited Svetlana is going to be taking over. He stated she is coming up on a year with us and has been amazing. He stated she has been fully engaged in the IDA. He stated she has been working on the cost benefit analysis process trying to simplify it and make it user friendly. He stated he wholeheartedly encourages the Board to appoint Svetlana Dyer as our secretary.
Nancy Lowery stated this has probably been one of the most interesting jobs she has ever had. She stated when she came on, the next month the pandemic hit and everything shifted. She stated this team, Board, staff pivoted and reacted so appropriately to support this community. She stated the office continued to operate every month and then shifted into such amazing work with Micron. She stated between what the legal team, staff and the Board has done, she will miss this.
Upon a motion by Susan Stanczyk, seconded by Janice Herzog, the OCIDA Board approved a resolution appointing Svetlana Dyer as Agency Secretary and Agency Public Hearing Officer. Motion was carried.
Upon a motion by Cydney Johnson, seconded by Janice Herzog, the OCIDA Board adjourned the meeting at 9:03 am. Motion was carried.
_________________________________ Svetlana Dyer, Secretary 7
Upon a motion by Cydney Johnson, seconded by Janice Herzog, the OCIDA Board adjourned the meeting at 9:03 am. Motion was carried.
_________________________________ Svetlana Dyer, Secretary 7
PHONE: 315.435.3770 • ECONOMICDEVELOPMENT@ONGOV.NET December 31, 2023
Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating/Non-Op Revenue 210,463 3,097,497 1,472,880 1,624,617 Administrative Expense 175,244 727,820 816,000 (88,180) Operating/Program Expense 71,468 736,786 656,880 79,906 Net Ordinary Income (36,249) 1,632,891 - 1,632,891
PHONE: 315.435.3770 • ECONOMICDEVELOPMENT@ONGOV.NET December 31, 2023
Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating/Non-Op Revenue 210,463 3,097,497 1,472,880 1,624,617 Administrative Expense 175,244 727,820 816,000 (88,180) Operating/Program Expense 71,468 736,786 656,880 79,906 Net Ordinary Income (36,249) 1,632,891 - 1,632,891 Current Assets Current YTD Prior YTD Total Cash 6,328,304 4,050,336 Less Pass Through Received 633,645 - Available Cash 5,694,659 4,050,336 Receivables 290,947 151,491 Total 5,985,606 4,201,827 Onondaga County Industrial Development Agency Profit and Loss December 2023 Current Assets Current YTD Prior YTD Total Cash 6,328,304 4,050,336 Less Pass Through Received 633,645 - Available Cash 5,694,659 4,050,336 Receivables 290,947 151,491 Total 5,985,606 4,201,827 Onondaga County Industrial Development Agency Profit and Loss December 2023
Income
2116.1 Agency Fees 68,974.50 2116.3 WPCP Agency Fee 111,111.11 Total 2116 Fees 180,085.61 2410 Lease Income 1,224.30
2660 FTZ 6,250.00 Total 2655 Other Operating Revenue 6,250.00 Total 500 Operating Revenue 187,559.91
2401 Interest Income 22,903.26 Total 501 Non-Operating Revenue 22,903.26 550 WPCP Pass Thru Revenue 730,265.66 Total Income $940,728.83 GROSS PROFIT $940,728.83 Expenses
6406 Other Professional Services 41,590.99 6406.50 Consulting Services 7,500.00 Total 6406 Other Professional Services 49,090.99 6407 Administrative Expense 175,243.91 6408 Meeting Expenses 160.40 6409 Conference Attendence -295.00 6410 Office Expense 268.35 6411 Memberships / Sponsorships 1,500.00 6414 Marketing 14,000.00 6415 FTZ 1,250.00 Total 6400 Operating Expense 241,218.65
6460 IDA General Legal 1,537.50 6480 Roth Legal 75.00 Total 6450 Barclay Damon 1,612.50 Total 6440 Legal Fees 1,612.50
Income
2116.1 Agency Fees 68,974.50 2116.3 WPCP Agency Fee 111,111.11 Total 2116 Fees 180,085.61 2410 Lease Income 1,224.30
2660 FTZ 6,250.00 Total 2655 Other Operating Revenue 6,250.00 Total 500 Operating Revenue 187,559.91
2401 Interest Income 22,903.26 Total 501 Non-Operating Revenue 22,903.26 550 WPCP Pass Thru Revenue 730,265.66 Total Income $940,728.83 GROSS PROFIT $940,728.83 Expenses
6406 Other Professional Services 41,590.99 6406.50 Consulting Services 7,500.00 Total 6406 Other Professional Services 49,090.99 6407 Administrative Expense 175,243.91 6408 Meeting Expenses 160.40 6409 Conference Attendence -295.00 6410 Office Expense 268.35 6411 Memberships / Sponsorships 1,500.00 6414 Marketing 14,000.00 6415 FTZ 1,250.00 Total 6400 Operating Expense 241,218.65
6460 IDA General Legal 1,537.50 6480 Roth Legal 75.00 Total 6450 Barclay Damon 1,612.50 Total 6440 Legal Fees 1,612.50 Accrual Basis Wednesday, January 10, 2024 11:43 AM GMT-05:00 1/2 Onondaga County Industrial Development Agency Profit and Loss December 2023
6510.4 Other Expenses 883.50 6510.7 WPCP Marketing 2,997.53 Total 6510 White Pine Commerce Park 3,881.03 Total 6500 Agency Program Expenses 3,881.03
6605.2 PILOT Expense 23,746.33 Total 6605 Pilot & Pass Thru Expenses 23,746.33 Total 6600 Non-Operating Expenses 23,746.33
6610.1 Barclay Damon 177,777.78 6610.2 JMT 128,787.88 6610.7 Gorick Construction 423,700.00 Total 6610 WPCP Pass Thru Expenses 730,265.66 Total Expenses $1,000,724.17 NET OPERATING INCOME $ -59,995.34 NET INCOME $ -59,995.34 Accrual Basis Wednesday, January 10, 2024 11:43 AM GMT-05:00 1/2 Onondaga County Industrial Development Agency Profit and Loss December 2023
6510.4 Other Expenses 883.50 6510.7 WPCP Marketing 2,997.53 Total 6510 White Pine Commerce Park 3,881.03 Total 6500 Agency Program Expenses 3,881.03
6605.2 PILOT Expense 23,746.33 Total 6605 Pilot & Pass Thru Expenses 23,746.33 Total 6600 Non-Operating Expenses 23,746.33
6610.1 Barclay Damon 177,777.78 6610.2 JMT 128,787.88 6610.7 Gorick Construction 423,700.00 Total 6610 WPCP Pass Thru Expenses 730,265.66 Total Expenses $1,000,724.17 NET OPERATING INCOME $ -59,995.34 NET INCOME $ -59,995.34 Accrual Basis Wednesday, January 10, 2024 11:43 AM GMT-05:00 2/2 Onondaga County Industrial Development Agency Balance Sheet As of December 31, 2023
Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 4,412,349.82 200.2 Cash - M & T Money Maker Savings 1,924,862.20 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 6,328,304.20 Total Bank Accounts $6,328,304.20 Accounts Receivable 380 Accounts Rec.
380.6 A/R Fees, Lease & PILOT 2,738,566.90 Total 380 Accounts Rec. 2,738,566.90 Total Accounts Receivable $2,738,566.90 Other Current Assets
480.4 Credit Balance on Card -3,400.00 Total 480 Prepaid Expenses -3,400.00 Total Other Current Assets $ -3,400.00 Total Current Assets $9,063,471.10 Fixed Assets
101 White Pines Commerce Park 4,494,521.05
101.101 CHA GEIS 1 267,452.05 101.102 CHA GEIS 2 219,439.36 101.104 GEIS Reg Plan Board Overview 19,797.74 Total 101.1 WPCP GEIS 506,689.15 101.2 WPCP Legal 69,774.25 101.3 Engineering Services 52,675.00 101.301 Temporary Access 4,055.44 101.4 Environmental/Demo Services 10,318.98 Total 101.3 Engineering Services 67,049.42
101.501 Land Purchases 1,160,063.57 101.502 Closing Costs 3,168.14 Accrual Basis Wednesday, January 10, 2024 11:43 AM GMT-05:00 2/2 Onondaga County Industrial Development Agency Balance Sheet As of December 31, 2023
Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 4,412,349.82 200.2 Cash - M & T Money Maker Savings 1,924,862.20 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 6,328,304.20 Total Bank Accounts $6,328,304.20 Accounts Receivable 380 Accounts Rec.
380.6 A/R Fees, Lease & PILOT 2,738,566.90 Total 380 Accounts Rec. 2,738,566.90 Total Accounts Receivable $2,738,566.90 Other Current Assets
480.4 Credit Balance on Card -3,400.00 Total 480 Prepaid Expenses -3,400.00 Total Other Current Assets $ -3,400.00 Total Current Assets $9,063,471.10 Fixed Assets
101 White Pines Commerce Park 4,494,521.05
101.101 CHA GEIS 1 267,452.05 101.102 CHA GEIS 2 219,439.36 101.104 GEIS Reg Plan Board Overview 19,797.74 Total 101.1 WPCP GEIS 506,689.15 101.2 WPCP Legal 69,774.25 101.3 Engineering Services 52,675.00 101.301 Temporary Access 4,055.44 101.4 Environmental/Demo Services 10,318.98 Total 101.3 Engineering Services 67,049.42
101.501 Land Purchases 1,160,063.57 101.502 Closing Costs 3,168.14 Accrual Basis Wednesday, January 10, 2024 11:54 AM GMT-05:00 1/3 Onondaga County Industrial Development Agency Balance Sheet As of December 31, 2023
Total 101.5 Land Acquisition Costs 1,163,231.71 101.6 WPCP Marketing 2,984.34 Total 101 White Pines Commerce Park 6,304,249.92 106 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 7,560,595.42
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 -4,124.00 213 A/D Buildings -113,870.00 250 Investment in Real Property 29,508,083.00 Total Fixed Assets $36,956,702.42 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $46,021,815.28 Accrual Basis Wednesday, January 10, 2024 11:54 AM GMT-05:00 1/3 Onondaga County Industrial Development Agency Balance Sheet As of December 31, 2023
Total 101.5 Land Acquisition Costs 1,163,231.71 101.6 WPCP Marketing 2,984.34 Total 101 White Pines Commerce Park 6,304,249.92 106 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 7,560,595.42
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 -4,124.00 213 A/D Buildings -113,870.00 250 Investment in Real Property 29,508,083.00 Total Fixed Assets $36,956,702.42 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $46,021,815.28
Liabilities Current Liabilities Accounts Payable 300 WPCP Pass Thru Payable 2,334,008.06 Total Accounts Payable $2,334,008.06 Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 727,819.54 600.102 Due to BD WPCP -0.34 600.204 OHB Redev LLC Funds 251,658.15 600.205 Exp Pay Prev Period 9,700.03 600.206 Mileage Reimbursement 0.34 600.208 BlueRock Energy Agreement Deposit 25,000.00 600.209 Syracuse Rail Overpayment 500.00 600.3 Onondaga County Loan 28,079,656.77 600.31 Accrued Interest - OC Note Payable 488,656.00 Total 600.3 Onondaga County Loan 28,568,312.77
Liabilities Current Liabilities Accounts Payable 300 WPCP Pass Thru Payable 2,334,008.06 Total Accounts Payable $2,334,008.06 Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 727,819.54 600.102 Due to BD WPCP -0.34 600.204 OHB Redev LLC Funds 251,658.15 600.205 Exp Pay Prev Period 9,700.03 600.206 Mileage Reimbursement 0.34 600.208 BlueRock Energy Agreement Deposit 25,000.00 600.209 Syracuse Rail Overpayment 500.00 600.3 Onondaga County Loan 28,079,656.77 600.31 Accrued Interest - OC Note Payable 488,656.00 Total 600.3 Onondaga County Loan 28,568,312.77 Accrual Basis Wednesday, January 10, 2024 11:54 AM GMT-05:00 2/3 Onondaga County Industrial Development Agency Balance Sheet As of December 31, 2023
Total 600 Accounts Payable 29,582,990.49
602 Pass Thru Payable 32,471.00 603 PILOT Pass Thru 1.01 Total 601 PILOT and Pass Thru Payable 32,472.01
631.15 Salina -0.81 Total 631.1 Towns -0.81
631.356 Syracuse -0.10 Total 631.3 Schools -0.10 631.4 Onondaga County -0.09 631.5 City of Syracuse -0.36 Total 631 Due to Other Governments -1.36 Total Other Current Liabilities $29,615,461.14 Total Current Liabilities $31,949,469.20 Total Liabilities $31,949,469.20 Equity 3900 Equity Unreserved 9,753,381.97 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 368,811.84 465 Equity - Unreserved 4,017.16 Net Income 1,600,296.48 Total Equity $14,072,346.08 TOTAL LIABILITIES AND EQUITY $46,021,815.28 Accrual Basis Wednesday, January 10, 2024 11:54 AM GMT-05:00 2/3 Onondaga County Industrial Development Agency Balance Sheet As of December 31, 2023
Total 600 Accounts Payable 29,582,990.49
602 Pass Thru Payable 32,471.00 603 PILOT Pass Thru 1.01 Total 601 PILOT and Pass Thru Payable 32,472.01
631.15 Salina -0.81 Total 631.1 Towns -0.81
631.356 Syracuse -0.10 Total 631.3 Schools -0.10 631.4 Onondaga County -0.09 631.5 City of Syracuse -0.36 Total 631 Due to Other Governments -1.36 Total Other Current Liabilities $29,615,461.14 Total Current Liabilities $31,949,469.20 Total Liabilities $31,949,469.20 Equity 3900 Equity Unreserved 9,753,381.97 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 368,811.84 465 Equity - Unreserved 4,017.16 Net Income 1,600,296.48 Total Equity $14,072,346.08 TOTAL LIABILITIES AND EQUITY $46,021,815.28 Accrual Basis Wednesday, January 10, 2024 11:54 AM GMT-05:00 3/3 Accrual Basis Wednesday, January 10, 2024 11:54 AM GMT-05:00 3/3
PAYMENT OF BILLS - SCHEDULE #489 January 18, 2024
PAYMENT OF BILLS - SCHEDULE #489 January 18, 2024
1. NYS ECONOMIC DEVELOPMENT COUNCIL* $ 1,500.00 SEMI ISS Sponsorship, Inv#14970 2. SYRACUSE DESIGN GROUP, LLC** $ 360.00 Website Hosting Services, Inv#6193 3. DOWNTOWN COMMITTEE OF SYRACUSE $ 1,640.00 Downtown Enthusiast Sponsor 2024 4. BRIAN R. HALL - RECEIVER OF TAXES $ 58,883.60 WPCP 2024 Real Property Taxes 5. NYS ECONOMIC DEVELOPMENT COUNCIL $ 2,000.00
6. BARCLAY DAMON LLP $ 66,031.25 OHB Redev, Inv#'s 5268269, 5268271 7. BARCLAY DAMON LLP $ 5,550.00 IDA Matters, Inv#'s 5241003, 5268397 8. COMMISSIONER OF FINANCE $ 231.48 Roth Steel 2024 Taxes 9. BARCLAY DAMON LLP $ 177,777.78 November 2023 Legal Costs 10. JMT OF NEW YORK, INC. $ 128,787.88 November 2023 Engineering Costs 11. GORICK CONSTRUCTION CO., INC. $ 327,079.15 Demolition Costs *Ratification of Check dated December 18, 2023 **Ratification of Check dated December 19, 2023 Schedule#489 13. NICOLE WALSH - RECEIVER OF TAXES $ 5,935.64 WPCP 2024 Real Property Taxes
1. NYS ECONOMIC DEVELOPMENT COUNCIL* $ 1,500.00 SEMI ISS Sponsorship, Inv#14970 2. SYRACUSE DESIGN GROUP, LLC** $ 360.00 Website Hosting Services, Inv#6193 3. DOWNTOWN COMMITTEE OF SYRACUSE $ 1,640.00 Downtown Enthusiast Sponsor 2024 4. BRIAN R. HALL - RECEIVER OF TAXES $ 58,883.60 WPCP 2024 Real Property Taxes 5. NYS ECONOMIC DEVELOPMENT COUNCIL $ 2,000.00
6. BARCLAY DAMON LLP $ 66,031.25 OHB Redev, Inv#'s 5268269, 5268271 7. BARCLAY DAMON LLP $ 5,550.00 IDA Matters, Inv#'s 5241003, 5268397 8. COMMISSIONER OF FINANCE $ 231.48 Roth Steel 2024 Taxes 9. BARCLAY DAMON LLP $ 177,777.78 November 2023 Legal Costs 10. JMT OF NEW YORK, INC. $ 128,787.88 November 2023 Engineering Costs 11. GORICK CONSTRUCTION CO., INC. $ 327,079.15 Demolition Costs *Ratification of Check dated December 18, 2023 **Ratification of Check dated December 19, 2023 Schedule#489 13. NICOLE WALSH - RECEIVER OF TAXES $ 5,935.64 WPCP 2024 Real Property Taxes 14. ONONDAGA CIVIC DEVELOPMENT CORPORATION $ 308.58 4th Q Copier Reimbursement TOTAL $ 776,085.36 14. ONONDAGA CIVIC DEVELOPMENT CORPORATION $ 308.58 4th Q Copier Reimbursement TOTAL $ 776,085.36
PAYMENT OF BILLS - SCHEDULE #489 January 18, 2024 PILOT Payments 1. ONONDAGA COUNTY* $ 7,108.37 COR Inner Harbor 4th Q PILOT Payment 2. CITY OF SYRACUSE* $ 6,284.28 COR Inner Harbor 4th Q PILOT Payment 3. SYRACUSE CITY SCHOOL DISTRICT* $ 10,353.68 COR Inner Harbor 4th Q PILOT Payment 4. ONONDAGA COUNTY $ 62,531.00
5. TOWN OF CICERO $ 348.00 Addcom Electronics 2024 PILOT Payment 6. TOWN OF CLAY $ 10,218.00 SEKO Logistics 2024 PILOT Payment 7. TOWN OF DEWITT $ 20,143.00 Feldmeier Equipment 2024 PILOT Payment 8. TOWN OF LYSANDER $ 6,564.00 Agrana Fruit 2024 PILOT Payment 9. TOWN OF LAFAYETTE $ 3,422.00 C2 NY Sentinel Heights Solar 2024 PILOT Payment 10. BALDWINSVILLE CSD $ 72,974.00 Agrana Fruit 2024 PILOT Payment 11. EAST SYRACUSE MINOA CSD $ 104,908.00 Feldmeier Equipment 2024 PILOT Payment 12. LAFAYETTE CSD $ 11,840.00 C2 Sentinel Heights Solar 2024 PILOT Payment
PAYMENT OF BILLS - SCHEDULE #489 January 18, 2024 PILOT Payments 1. ONONDAGA COUNTY* $ 7,108.37 COR Inner Harbor 4th Q PILOT Payment 2. CITY OF SYRACUSE* $ 6,284.28 COR Inner Harbor 4th Q PILOT Payment 3. SYRACUSE CITY SCHOOL DISTRICT* $ 10,353.68 COR Inner Harbor 4th Q PILOT Payment 4. ONONDAGA COUNTY $ 62,531.00
5. TOWN OF CICERO $ 348.00 Addcom Electronics 2024 PILOT Payment 6. TOWN OF CLAY $ 10,218.00 SEKO Logistics 2024 PILOT Payment 7. TOWN OF DEWITT $ 20,143.00 Feldmeier Equipment 2024 PILOT Payment 8. TOWN OF LYSANDER $ 6,564.00 Agrana Fruit 2024 PILOT Payment 9. TOWN OF LAFAYETTE $ 3,422.00 C2 NY Sentinel Heights Solar 2024 PILOT Payment 10. BALDWINSVILLE CSD $ 72,974.00 Agrana Fruit 2024 PILOT Payment 11. EAST SYRACUSE MINOA CSD $ 104,908.00 Feldmeier Equipment 2024 PILOT Payment 12. LAFAYETTE CSD $ 11,840.00 C2 Sentinel Heights Solar 2024 PILOT Payment *Ratification of Checks dated December 27, 2023 1 Schedule#489 13. LIVERPOOL CSD $ 104,507.00 SEKO Logistics 2024 PILOT Payment 14. NORTH SYRACUSE CSD $ 1,842.00 Addcom Electronics 2024 PILOT Payment TOTAL $ 423,043.33 2 *Ratification of Checks dated December 27, 2023 1 Schedule#489 13. LIVERPOOL CSD $ 104,507.00 SEKO Logistics 2024 PILOT Payment 14. NORTH SYRACUSE CSD $ 1,842.00 Addcom Electronics 2024 PILOT Payment TOTAL $ 423,043.33 2
Bluefors Cryocooler Technologies, Inc.
January 9, 2024
Bluefors Cryocooler Technologies, Inc.
January 9, 2024
Mr. Robert M. Petrovich Executive Vice President Onondaga County Industrial Development Agency
Mr. Robert M. Petrovich Executive Vice President Onondaga County Industrial Development Agency
2nd Floor Syracuse, NY 13202 Re: Request for Increase and Extension ofSales and Use Tax Exemption Dear Mr. Petrovich:
We are writing to request an increase in the amount to the Onondaga County Industrial Development Agency ("OCIDA") sales tax exemption for the Bluefors Cryocooler Technologies Inc. building expansion project (the "Project"), and an extension of the sales and use tax exemption expiration date. Increase in Exemption Amount OClDA originally approved sales and use tax exemptions for the Project in the amount of $637,934. Due to increases in the cost of equipment and materials, we request an increase in the exemption to $712,000. The estimated cost of taxable purchases has increased by $925,825 (from $7,974,175 to $8,900,000). These cost increases have, however, been partially offset by cost savings in other areas not subject to sales and use tax, so the total estimated Project cost has increased by only $623,650 (from $16,798,350 to $17,422,000).
Enclosed with this letter are updates to the sections ofBluefors' OCIDA application regarding the estimated Project cost and sales and use tax exemptions.
Extension of Exemption Expiration Date The OCIDA sales and use tax exemption for the Project currently expires on January 31, 2024. Bluefors' real estate purchase, and therefore the closing of OCIDA lease/leaseback and related long-term financial
2nd Floor Syracuse, NY 13202 Re: Request for Increase and Extension ofSales and Use Tax Exemption Dear Mr. Petrovich:
We are writing to request an increase in the amount to the Onondaga County Industrial Development Agency ("OCIDA") sales tax exemption for the Bluefors Cryocooler Technologies Inc. building expansion project (the "Project"), and an extension of the sales and use tax exemption expiration date. Increase in Exemption Amount OClDA originally approved sales and use tax exemptions for the Project in the amount of $637,934. Due to increases in the cost of equipment and materials, we request an increase in the exemption to $712,000. The estimated cost of taxable purchases has increased by $925,825 (from $7,974,175 to $8,900,000). These cost increases have, however, been partially offset by cost savings in other areas not subject to sales and use tax, so the total estimated Project cost has increased by only $623,650 (from $16,798,350 to $17,422,000).
Enclosed with this letter are updates to the sections ofBluefors' OCIDA application regarding the estimated Project cost and sales and use tax exemptions.
Extension of Exemption Expiration Date The OCIDA sales and use tax exemption for the Project currently expires on January 31, 2024. Bluefors' real estate purchase, and therefore the closing of OCIDA lease/leaseback and related long-term financial
tel.: 315-455-2555 fax: 315-455-2544 website: www.cryomech.com ªBLUE FORS Bluefors Cryocooler Technologies, Inc.
assistance, was delayed due to delays in obtaining the survey required for subdivision approval. The survey has been received and the Town of DeWitt granted its subdivision approval last month. The final subdivision approval, from the City Planning Commission, is expected to be received at CPC's January 22 meeting. Bluefors intends to close on its real estate purchase as soon as possible after receiving this approval, most likely by January 31. Based on this local approval schedule, we should be ready to close the OCIDA lease/leaseback transaction in early February.
In light of the real estate timing described above, we request an extension of the OCIDA sales tax exemption to March 31, 2024. Although we expect to close on the lease/leaseback and related long-term OCIDA financial assistance well before March 31, we request an extension to March 31 in case there are additional unexpected delays.
Thank you for your consideration.
Very truly yours, BLUEFORS CRYOCOOLER TECHNOLOGIES INC.
cc: Paul W. Reichel, Esq. (w/enc.)
tel.: 315-455-2555 fax: 315-455-2544 website: www.cryomech.com ªBLUE FORS Bluefors Cryocooler Technologies, Inc.
assistance, was delayed due to delays in obtaining the survey required for subdivision approval. The survey has been received and the Town of DeWitt granted its subdivision approval last month. The final subdivision approval, from the City Planning Commission, is expected to be received at CPC's January 22 meeting. Bluefors intends to close on its real estate purchase as soon as possible after receiving this approval, most likely by January 31. Based on this local approval schedule, we should be ready to close the OCIDA lease/leaseback transaction in early February.
In light of the real estate timing described above, we request an extension of the OCIDA sales tax exemption to March 31, 2024. Although we expect to close on the lease/leaseback and related long-term OCIDA financial assistance well before March 31, we request an extension to March 31 in case there are additional unexpected delays.
Thank you for your consideration.
Very truly yours, BLUEFORS CRYOCOOLER TECHNOLOGIES INC.
cc: Paul W. Reichel, Esq. (w/enc.)
tel.: 315-455-2555 fax: 315-455-2544 website: www.cryomech.com
A) Project Costs and Finances Description of Costs Total Budget Amount Land Acquisition $375,000 Site Work/Demo $2,005,000 Building Construction & Renovation $12,992,000 Furniture & Fixtures $1,750.000 Equipment Engineering/Architectural Design S300,000 Legal Management/Developer Fees Additional Soft Cost Other-explain Total Project Cost $17,422,000 Please have documentation available upon request. Do not include OCIDA fees, OCIDA application fees or OCIDA legalfees as part of the Total Project Cost.
B) TOTAL Project Costs $
tel.: 315-455-2555 fax: 315-455-2544 website: www.cryomech.com
A) Project Costs and Finances Description of Costs Total Budget Amount Land Acquisition $375,000 Site Work/Demo $2,005,000 Building Construction & Renovation $12,992,000 Furniture & Fixtures $1,750.000 Equipment Engineering/Architectural Design S300,000 Legal Management/Developer Fees Additional Soft Cost Other-explain Total Project Cost $17,422,000 Please have documentation available upon request. Do not include OCIDA fees, OCIDA application fees or OCIDA legalfees as part of the Total Project Cost.
B) TOTAL Project Costs $ Sources of Funds for Project Costs:
I. Bank Financing $
grants and tax credits) $ -Identify each state and federal grant/credit:
$ _ $- $ -------- 6. Total Sources of Funds for Project Costs $-------- Onondaga County Industrial Development Agency Page 7 Please use this chart to illustrate the current employment:
Job Title/Category Current Annual Pay Current Employment (FTE) Please use this chart to illustrate the projected employment growth:
Job Title/Category Current Annual Pay FTE Jobs Created FTE Jobs Created FTE Jobs Created Year 1 Year 2 Year 3 Sources of Funds for Project Costs:
I. Bank Financing $
grants and tax credits) $ -Identify each state and federal grant/credit:
$ _ $- $ -------- 6. Total Sources of Funds for Project Costs $-------- Onondaga County Industrial Development Agency Page 7 Please use this chart to illustrate the current employment:
Job Title/Category Current Annual Pay Current Employment (FTE) Please use this chart to illustrate the projected employment growth:
Job Title/Category Current Annual Pay FTE Jobs Created FTE Jobs Created FTE Jobs Created Year 1 Year 2 Year 3 E) Financial Assistance sought:
D Real Property Tax Abatement (PILOT): Agency Staff will provide draft andfìnal PILOT schedule:
D] Mortgage Recording Tax Exemption (.75% of mortgage): _ Es] sates and Use Tax Exemption (4% Local, 4% State): ----------- $712,000 D Tax Exempt Bond Financing (Amount Requested): _ D 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: $ 8,900,000 E) Financial Assistance sought:
D Real Property Tax Abatement (PILOT): Agency Staff will provide draft andfìnal PILOT schedule:
D] Mortgage Recording Tax Exemption (.75% of mortgage): _ Es] sates and Use Tax Exemption (4% Local, 4% State): ----------- $712,000 D Tax Exempt Bond Financing (Amount Requested): _ D 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: $ 8,900,000 Estimated State and local Sales and Use Tax Benefit (product of 8% multiplied by the figure, above): $ 712,000 ------ Onondaga County Industrial Development Agency Page 10 Estimated State and local Sales and Use Tax Benefit (product of 8% multiplied by the figure, above): $ 712,000 ------ Onondaga County Industrial Development Agency Page 10