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315.435.3770 • ECONOMICDEVELOPMENT@ONGOV.NET • ONGOVED.COM Regular Meeting Agenda March 6, 2025 Call to Order the Regular Meeting of the Agency A. Approval of Minutes: February 6, 2025 B. Treasurer’s Report C. Payment of Bills D. Conflict of Interest Action Items:
1. Semiconductor Components Industries, LLC dba onsemi (Project #3101-24-09A) Initial Meeting Semiconductor Components Industries, LLC dba onsemi is proposing to develop and manufacture semiconductor technology at an existing approximately 66,550 sq. ft. fabrication facility located at 50 Collamer Crossings Parkway in the town of DeWitt. Agency Action Requested:
a. A resolution of the Board authorizing a public hearing.
Representative: Subhash Pidaparthi and Christopher Andreucci
Liverpool Lodging Ventures LLC is proposing to construct a 103,673 sq. ft. dual-branded Marriott hotel, consisting of a Fairfield Inn & Suites and a Residence Inn, located in the town of Clay. The hotel will feature approximately 162 rooms and serve a diverse range of guests and extended-stay visitors.
Agency Action Requested:
a. A resolution of the Board authorizing a public hearing.
Representative: Minesh Patel 3. 629 LeMoyne Manor LLC (3101-20-15A) Modification Meeting 629 LeMoyne Manor 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 of the sales and use tax exemption. Representative: Robert Petrovich, Executive Director 4. 2024 Agency Audit Presentation of the 2024 Audit of the Agency.
Agency Action Requested:
a. A resolution of the Board approving the 2024 Audit of the Agency.
Representative: Mike Lisson, Grossman St. Amour CPAs
The Onondaga County Department of Water Environment Protection is requesting access to a portion of property located at 5064 State Route 31 in the Town of Clay, owned by the Agency to undertake certain activities consistent with its Oak Orchard municipal sewer expansion project. The land will ultimately be purchased by WEP.
Agency Action Requested:
a. A resolution of the Board authorizing the execution and delivery of an access agreement with the Onondaga County Department of Water Environment Protection in connection with the development of land in the Town of Clay.
b. A resolution of the Board declaring the Agency’s intent to be Lead Agency for a coordinated environmental review with respect to the eventual subdivision and sale of the property.
Representative: Robert Petrovich, Executive Director
Adjourn Regular Meeting Minutes February 6, 2025 A Regular meeting of the Onondaga County Industrial Development Agency was held on Thursday, February 6, 2025, at 335 Montgomery Street, Floor 2M, Syracuse, New York. Patrick Hogan called the meeting to order at 8:34 AM with the following in attendance:
PRESENT:
Patrick Hogan Janice Herzog Fanny Villarreal Cydney Johnson Susan Stanczyk Elizabeth Dreyfuss
ABSENT:
Kevin Ryan
ALSO PRESENT:
Robert M. Petrovich, Executive Director Nathaniel Stevens, Treasurer Alexis Rodriguez, Secretary McKenna Moonan, Assistant Secretary Robert Schoeneck, Assistant Treasurer Jeffrey Davis, Esq., Agency Counsel Amanda Fitzgerald, Esq., Agency Counsel APPROVAL OF REGULAR MEETING MINUTES- January 9, 2025 Fanny Villarreal and Elizabeth Dreyfuss abstained from the vote, as they were not in attendance. Upon motion by Susan Stanczyk, seconded by Janice Herzog, the Board approved the meeting minutes of January 9, 2025. Motion was carried.
TREASURER’S REPORT Nate Stevens gave a brief overview of the Treasurer’s Report for the month of January 2025. Upon motion by Susan Stanczyk, seconded by Fanny Villarreal, the Board approved the Treasurer’s Report of the month of January 2025. Motion was carried.
Nate Stevens gave a brief overview of the Payment of Bills.
Upon motion by Janice Herzog, seconded by Susan Stanczyk, the Board approved the Payment of Bills. Motion was carried.
The conflict of interest was circulated and there were no conflicts.
1. Project Termination for BWI Hotel Acquisitions I LLC (Project #3101-19-04A) – Robert Petrovich spoke to the termination, stating that it was requested by the applicant, as they have been facing difficulties securing financing for the project, due to the current lending environment. He stated that they have used some of the IDA sales and use tax exemption to demolish existing structures on the site. He stated that the project’s PILOT payments have all been paid to date. He stated that the company may come back to the IDA in the future to present a new project for the site.
Susan Stanczyk questioned if a new project was to be presented to the IDA in the future, would it be a continuance of the old project’s PILOT. Robert Petrovich advised that it would be a new project with a new benefit package that wouldn’t be associated with the old project.
Amanda Fitzgerald stated that the only benefit that the applicant used was the sales and use tax exemption for demolishing the existing structures, which made the site less of an eyesore. Robert Petrovich stated that it’s the IDA’s recommendation to waive the recapture, as the benefit was used to improve the site.
Patrick Hogan read the Agency Action Requested of “A resolution of the Board terminating a Project with BWI Hotel Acquisitions I LLC, determining recapture, and
directing execution of termination documents with respect thereto.” Motion was made by
Janice Herzog, seconded by Susan Stanczyk. Motion was carried.
Motion to adjourn was made by Susan Stanczyk and seconded by Janice Herzog at 8:40 AM.
___________________________________ Alexis Rodriguez, Secretary February 28, 2025 Revenue / Expense / Income Current Period Current YTD Operating/Non-Op Revenue 244,012 516,355 Administrative Expense 69,139 120,124 Operating/Program Expense 29,466 117,143 Net Ordinary Income 145,407 279,088 Current Assets Current YTD Total Cash 9,346,461 Less Pass Through Received 635,488 Net Cash 8,710,973 Onondaga County Industrial Development Agency Profit and Loss February 2025 Total Income
2116.1 Agency Fees 88,622.58 2116.3 WPCP Agency Fee 111,111.11 Total 2116 Fees $ 199,733.69 2410 Lease Income 1,224.30 Total 500 Operating Revenue $ 200,957.99
2401 Interest Income 43,051.79 501.2 Other Non-Operating Revenue 2.00 Total 501 Non-Operating Revenue $ 43,053.79
529 PILOT Income 109,524.43 Total 534 Pilot & Pass Thru Revenue $ 109,524.43 550 WPCP Pass Thru Revenue 306,565.66 Total Income $ 660,101.87 Gross Profit $ 660,101.87 Expenses
6406.50 Consulting Services 6,000.00 Total 6406 Other Professional Services $ 6,000.00 6407 Administrative Expense 69,139.34 6410 Office Expense 485.17 6411 Memberships / Sponsorships 2,060.00 Total 6400 Operating Expense $ 77,684.51
6460 IDA General Legal 232.50 6480 Roth Legal 345.00 Total 6450 Barclay Damon $ 577.50 Total 6440 Legal Fees $ 577.50
6510.5 Insurance 472.00 6510.7 WPCP Marketing 19,871.05 Total 6510 White Pine Commerce Park $ 20,343.05 Total 6500 Agency Program Expenses $ 20,343.05
6605 Pilot & Pass Thru Expenses 109,524.42 6606 OHB Redev LLC Funds Pass Thru 15,192.75 Total 6605 Pilot & Pass Thru Expenses $ 124,717.17 Total 6600 Non-Operating Expenses $ 124,717.17
6610.1 Barclay Damon 177,777.78 6610.2 JMT 128,787.88 Total 6610 WPCP Pass Thru Expenses $ 306,565.66 Total Expenses $ 529,887.89 Net Operating Income $ 130,213.98 Net Income $ 130,213.98 Monday, Mar 03, 2025 11:43:56 AM GMT-8 - Accrual Basis
PAYMENT OF BILLS - SCHEDULE #503 March 6, 2025
1. ONONDAGA COUNTY* $ 811,754.47
2. BARCLAY DAMON $ 177,777.78 January 2025 Legal Costs 3. JMT OF NEW YORK, LLP $ 128,787.88 January 2025 Engineering Costs 4. BARCLAY DAMON $ 1,851.36 Retained Corporate & Public Finance Matters, Inv#5326395 5. BARCLAY DAMON $ 9,478.98 Retained Corporate & Public Finance Matters, Inv#5326441 6. BARCLAY DAMON $ 450.00 WPSTP Inv#5321934 7. BARCLAY DAMON $ 3,015.00 Retained Corporate & Public Finance Matters, Inv#5327329 8. BARCLAY DAMON $ 34,570.00 OHB Redev, Inv#5326158 9. BARCLAY DAMON $ 2,138.75 WPSTP Inv#5326283 10. BARCLAY DAMON $ 600.00 Roth Steel Inv#5326282 11. ABC CREATIVE $ 7,532.50 Inv #8478 12. ROBERT PETROVICH $ 194.60 Mileage Reimbursement 13. NATHANIAL STEVENS $ 216.46 Mileage Reimbursement 14. NANCY LOWERY $ 216.46 Mileage Reimbursement 15. ALEXIS RODRIGUEZ $ 216.46 Mileage Reimbursement 16. LEONARD RAUCH $ 216.46 Mileage Reimbursement 17. ROBERT SCHOENECK $ 216.46 Mileage Reimbursement 18. NEW YORK STATE ECONOMIC DEVELOPMENT COUNCIL $ 1,500.00 NYSEDC - Sponsorship 19. LOVELL AND ASSOCIATES $ 3,000.00 February 2025 Consulting Total: $ 1,183,733.62 *Ratification of check dated 2/27/2025
PAYMENT OF BILLS - SCHEDULE #503 March 6, 2025 PILOT Payments 1. ONONDAGA COUNTY $ 310,910.00
2. TOWN OF CICERO $ 15,538.00
3. TOWN OF CLAY $ 5,482.00
4. TOWN OF LYSANDER $ 84,221.00
5. TOWN OF SALINA $ 4,889.00
6. TOWN OF CAMILLUS $ 10,654.00
7. VILLAGE OF LIVERPOOL $ 4,976.00
8. TOWN OF ELBRIDGE $ 1,311.00
9. TOWN OF SKANEATELES $ 231.00
10. BALDWINSVILLE CSD $ 15,410.00
11. LIVERPOOL CSD $ 33,997.00
12. NORTH SYRACUSE CSD $ 114,347.00
13. JORDAN-ELBRIDGE CSD $ 7,047.00
14. WEST GENESEE CSD $ 37,110.00
15. MARCELLUS CSD $ 2,911.00
TOTAL $ 649,034.00
Project: Semiconductor Components Industries, LLC Project Number: 3101-24-09A
Location: DeWitt School District: East Syracuse-Minoa Project Type: Manufacturing Tax Parcel(s): 021.-01-07.3 Village: 0 Total Project Cost: $ 118,850,000 8. Total Jobs 80 Land Acquisition $ 14,000,000 8A. Job Retention 0 Site Work/Demo $ - 8B: Job Creation 80 Building Construction & Renovation $ 20,000,000 (Next 5 Years) Furniture & Fixtures $ - Equipment $ 80,600,000 Project Soft Cost $ 4,250,000 Community Investment /Abatement Project Description Fiscal Impact ($) Abatement Summary $3,472,078 Sales Tax Abatement $2,200,000 Mortgage Tax Abatement $0 Property Tax Relief (PILOT) $1,272,078 The applicant is proposing to develop and manufacture semiconductor technology at Community Investment $187,625,022 an existing 66,550 sq. ft. fabrication facility located at 50 Collamer Crossing Parkway PILOT Payments ( - ) $5,903,222 in the town of DeWitt. Project Salaries and Benefits Estimated (10 yrs) $60,260,000 Construction Benefit Estimate $2,611,800 Total Project Cost $118,850,000 Investment:Abatement Ratio 54.04 :1 © 2025 Onondaga County Industrial Development Agency. All rights reserved.
Semiconductor Components Industries, LLC A) PILOTS Estimate Table Worksheet for 12 years OCIDA estimate of current market value $ 14,000,000 Projected investment $ 20,000,000 OCIDA estimate of increase in value $ 5,817,801 OCIDA estimated value after project is completed $ 19,817,801 Taxes that would have been collected if the project did not occur $ 5,068,887 Scheduled PILOT payments $ 5,903,222 County PILOT Full Tax Payment PILOT YEAR Exemption % Town School District Village Total PILOT Net Exemption Amount w/o PILOT 1 100% $ 47,346.77 $ 58,119.60 $ 272,467.78 $ - $ 377,934.15 $ 534,987.41 $ 157,053.26 2 100% $ 48,293.70 $ 59,281.99 $ 277,917.14 $ - $ 385,492.83 $ 545,687.16 $ 160,194.33 3 100% $ 49,259.58 $ 60,467.63 $ 283,475.48 $ - $ 393,202.69 $ 556,600.91 $ 163,398.22 4 90% $ 52,332.73 $ 64,240.02 $ 301,160.62 $ - $ 417,733.36 $ 567,732.92 $ 149,999.56 5 80% $ 55,509.10 $ 68,139.11 $ 319,439.77 $ - $ 443,087.98 $ 579,087.58 $ 135,999.60 6 70% $ 58,791.59 $ 72,168.47 $ 338,329.63 $ - $ 469,289.69 $ 590,669.33 $ 121,379.65 7 60% $ 62,183.18 $ 76,331.75 $ 357,847.30 $ - $ 496,362.23 $ 602,482.72 $ 106,120.49 8 50% $ 65,686.92 $ 80,632.69 $ 378,010.35 $ - $ 524,329.96 $ 614,532.38 $ 90,202.42 9 40% $ 69,305.93 $ 85,075.14 $ 398,836.78 $ - $ 553,217.85 $ 626,823.02 $ 73,605.17 10 30% $ 73,043.43 $ 89,663.03 $ 420,345.07 $ - $ 583,051.53 $ 639,359.48 $ 56,307.96 11 20% $ 76,902.70 $ 94,400.41 $ 442,554.15 $ - $ 613,857.26 $ 652,146.67 $ 38,289.41 12 10% $ 80,887.13 $ 99,291.42 $ 465,483.46 $ - $ 645,662.01 $ 665,189.61 $ 19,527.60 TOTAL $ 739,542.75 $ 907,811.25 $ 4,255,867.55 $ - $ 5,903,221.55 $ 7,175,299.21 $ 1,272,077.66 Year 0 1 2 3 4 5 Jobs Current/Actuals 0 Creation Goals 80 15 10 15 10 30 Total Employment Goals 80 15 25 40 50 80 © 2025 Onondaga County Industrial Development Agency. All rights reserved.
Semiconductor Components Industries, LLC
Addendum A – Narratives
Applicant Current Litigation The Company is currently involved in a variety of legal matters, through its parent company, that arise in the ordinary course of business. Based on information currently available, except as disclosed below, the Company is not involved in any pending or threatened legal proceedings that it believes could reasonably be expected to have a material adverse effect on its financial condition, results of operations or liquidity. The litigation process is inherently uncertain, and the Company cannot guarantee that the outcome of any litigation matter will be favorable to the Company.
Securities Class Action and Derivative Litigation Concerning the Company's SiC Business On December 13, 2023, a putative class action captioned Hubacek v. On Semiconductor Corp., et al., Case No. 1:23-cv-01429 (D. Del.), was filed by an alleged stockholder of the Company in the U.S. District Court for the District of Delaware against the Company and certain of its officers. This action was transferred to the U.S. District Court for the District of Arizona in March of 2024. The initial complaint asserted claims for alleged violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The initial complaint alleged that the defendants made misleading statements regarding the Company's SiC business. An amended complaint was filed on May 31, 2024. The amended complaint again asserts claims for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The plaintiff seeks a ruling that this case may proceed as a class action, and seeks damages, attorneys’ fees and costs. The Company filed a motion to dismiss the amended complaint on July 30, 2024. Upon reviewing the Company’s motion to dismiss the amended complaint, plaintiff deemed it necessary to further amend their complaint. On September 6, 2024, plaintiff filed their second amended complaint. The Company filed its motion to dismiss this second amended complaint and full briefing was completed on December 20, 2024. The Company expects the court to make a ruling on this motion in the first half of 2025. . The Company believes that it has strong legal defenses to the claims asserted and will vigorously defend it.
On January 3, 2024, a purported stockholder derivative action captioned Silva v. El-Khoury, et al., Case No. 1:24-cv-00007 (D. Del.), was filed by a purported stockholder of the Company in the U.S. District Court for the District of Delaware. On February 12, 2024, a purported stockholder derivative action captioned Smalley et al. v. El-Khoury et al. Case No. 1:24-cv-00183 (D. Del.), was filed by a purported stockholder of the Company in the U.S. District Court for the District of Delaware. Both aforementioned derivative actions, Silva and Smalley, were voluntarily dismissed without prejudice on April 15, 2024. On February 28, 2024, a purported stockholder derivative action captioned Mumme et al. v. El-Khoury et al. Case No. CV2024-003974 (D. AZ.), was filed by a purported stockholder of the Company in the Superior Court of the State of Arizona in and for the County of Maricopa and on March 15, 2024, a purported stockholder derivative action captioned Chan et al. v. Abe et al. Case No. 2:24-cv-00552 (D. AZ.), was filed by a purported stockholder of the Company in the U.S. District Court for the District of Arizona. The allegations in these derivative complaints are substantially similar to the allegations in the securities class action complaint discussed above. The derivative suits purport to assert claims (1) on behalf of the Company against certain of its officers for contribution under the federal securities laws and (2) against all of the defendants for breach of fiduciary duty, aiding and abetting, unjust enrichment, abuse of control, gross mismanagement, and waste. The plaintiffs seek an award of damages, pre-judgment interest, punitive damages, attorneys’ fees, and other costs and expenses related to the litigation. The Company believes that the plaintiffs lack standing to assert claims on the Company’s behalf. These two Addendum A – Narratives pending derivative actions, Mumme and Chan, were stayed by court order, pending the resolution of Hubacek v. On Semiconductor Corp.
Project Narrative/Statement of Need With its recent acquisition of an inactive Syracuse fab and its equipment, onsemi will bring the facility online by hiring the appropriate personnel to maintain and operate the fab. The fab will then be used for the development of wide bandgap semiconductor technology. We plan to hire 15 people for high- paying, high-tech jobs (including semiconductor process engineers, technicians, and managers) in Syracuse for the initial year of this phase of the project and hiring another 10 people for high-paying, high-tech jobs in the second year.
Upon qualification of the technology, this facility will support a bandgap semiconductor device manufacturing line to meet initial customer demand. Continued development activity at the site will deliver additional semiconductor devices which will address the advancing energy conversion demands of data centers, electric vehicles, military applications, and renewable energy solutions. The installed capacity of the Syracuse fab will be expanded via site renovations (i.e. cleanroom expansion), equipment purchases, and additional personnel to meet the future demand for wide bandgap semiconductor products. A key development within the wide bandgap semiconductor industry is the scale-up of semiconductor wafer size. This will enable significant process efficiency improvements and cost reductions in the fab. Scaling the wafer diameter and establishing a new production line in the Syracuse fab are critical goals which can maximize the output of the existing plant structure. The post-qualification objectives of the project to grow and expand wide bandgap semiconductor manufacturing will require additional investment; therefore, onsemi is searching for additional incentives to support the onshore creation of a robust supply chain for wide bandgap semiconductors. Specifically, onsemi aims to take advantage of the federal incentive tax credit and will engage the US Commerce Department for CHIPS Act support since the wide bandgap technology is well known as a semiconductor technology vital for our national and economic security. Additionally, onsemi is currently in partnership discussions with industry-leading suppliers to co-locate on the Syracuse property via the construction of a complementary substrate fabrication facility. If not for the incentives being applied for, onsemi likely would explore one of the foreign jurisdictions it currently operates to locate either its R&D activity or manufacturing wide bandgap semiconductor activity as the two phases need not be conducted at the same location.
As described above, this project includes two distinct phases, a research & development phase and manufacturing phase. It is in the initial R&D phase, where onsemi is expected to incur $25M of cost for the acquisition of the building, land and equipment of a currently inactive semiconductor laboratory. As previously mentioned, this will also be the time period for which onsemi hires 25 people for high-tech jobs. During the second, manufacturing, phase it will be necessary to spend $20M on renovations to the building to accommodate the semiconductor manufacturing line. Additionally, onsemi intends to spend approximately $70M to acquire the necessary semiconductor manufacturing equipment to bring the manufacturing line online. Lastly, we anticipate approximately $4M to be spent over both phases facilitating the research & development and manufacturing activities conducted in the fab. As we build out the manufacturing line, we plan to hire an additional 55 people for high-tech jobs. Both phases of the project are estimated to take place over a period of five years.
Addendum A – Narratives In summary, upon the completion of the development project and manufacturing build-out, the total investment in the Syracuse, NY property is expected to exceed $115M with the creation of about 80 high-tech jobs over the initial five years, with many more over the lifetime of the facility. Additionally, in this time frame an advanced semiconductor technology will be on shored by a US company, thereby strengthening both domestic semiconductor supply chain and US national security. With the financial assistance provided by the Agency, onsemi will be able to attain the full vision of the wide bandgap semiconductor development project as outlined above.
Description of Project Company Background onsemi is a Fortune 500® semiconductor company listed on the Nasdaq-100 Index® and the S&P 500® index, with approximately 30,000 employees worldwide and over 4,000 employees in the US. Our intelligent power and sensing solutions offer superior efficiency, helping our customers in automotive, industrial, communications, computing and beyond solve big challenges and create cutting-edge products for a better tomorrow.
Project Site Activity The objectives of the project are to bring the existing Syracuse fab online, qualify the wide bandgap semiconductor technology and ramp up manufacturing volumes.
After an initial investment to bring the fab online and qualify the technology, additional investments are required to meet the manufacturing goals. Specifically, the manufacturing activities will require a scale- up in wafer size, expansion of the equipment set, and renovations to the existing building to add cleanroom space and office space for personnel. The key project issue to be addressed is to coordinate the technology qualification with the substrate scale-up to maintain the project timeline. This issue is mitigated by the ability of all equipment currently located in the Syracuse fab to scale wafer size. If successful, this project will deliver the first product line for advanced power conversion applications for computing, electric mobility, renewable energy, and defense markets.
The site is about 66,550 square feet building that includes approximately 7,000 square feet of office space and approximately 21,700 square feet of manufacturing space. The building sits on a lot of 14.041 acres in size. Upon completion of the project the intended use of the site is to be manufacturing and onsemi intends to own the site.
Project: Liverpool Lodging Ventures LLC Project Number: 3101-25-01A
Location: Town of Clay School District: Liverpool CSD Project Type: New construction Tax Parcel(s): 055.-01-01.1 Village: 0 Total Project Cost: $ 24,100,000 8. Total Jobs 18.5 Land Acquisition $ 1,000,000 8A. Job Retention 0 Site Work/Demo $ 1,200,000 8B: Job Creation 18.5 Building Construction & Renovation $ 13,605,000 (Next 5 Years) Furniture & Fixtures $ 3,145,000 Equipment $ 2,250,000 Project Soft Cost $ 2,900,000 Community Investment /Abatement Project Description Fiscal Impact ($) Abatement Summary $2,275,667 Sales Tax Abatement $905,360 Mortgage Tax Abatement $126,525 Property Tax Relief (PILOT) $1,243,782 The applicant is proposing to construct a 103,673 sq. ft. dual-branded Marriott hotel, Community Investment $34,576,842 consisting of a Fairfield Inn & Suites and a Residence Inn, located in the Town of Clay. PILOT Payments $1,374,552 The hotel will feature 162 rooms and serve a diverse range of guests and extended- Project Salaries and Benefits Estimated (10 yrs) $7,796,390 stay visitors. Construction Benefit Estimate $1,305,900 Total Project Cost $24,100,000 Investment:Abatement Ratio 15.19 :1 © 2025 Onondaga County Industrial Development Agency. All rights reserved.
Liverpool Lodging Ventures LLC A) PILOTS Estimate Table Worksheet for 10 years OCIDA estimate of current market value $ 1,000,000 Projected investment $ 13,605,000 OCIDA estimate of increase in value $ 8,100,000 OCIDA estimated value after project is completed $ 9,100,000 Taxes that would have been collected if the project did not occur $ 287,729 Scheduled PILOT payments $ 1,374,552 Full Tax Onondaga PILOT YEAR Exemption % Town of Clay Liverpool CSD Village Total PILOT Payment w/o Net Exemption County
1 100% $ 3,389 $ 1,904 $ 20,985 $ - $ 26,277 $ 239,123 $ 212,846 2 90% $ 6,256 $ 3,515 $ 38,742 $ - $ 48,513 $ 243,906 $ 195,393 3 80% $ 9,237 $ 5,189 $ 57,202 $ - $ 71,628 $ 248,784 $ 177,156 4 70% $ 12,335 $ 6,929 $ 76,384 $ - $ 95,648 $ 253,760 $ 158,112 5 60% $ 15,553 $ 8,737 $ 96,310 $ - $ 120,600 $ 258,835 $ 138,235 6 50% $ 18,894 $ 10,614 $ 117,003 $ - $ 146,512 $ 264,012 $ 117,500 7 40% $ 22,363 $ 12,563 $ 138,486 $ - $ 173,412 $ 269,292 $ 95,880 8 30% $ 25,964 $ 14,585 $ 160,780 $ - $ 201,330 $ 274,678 $ 73,348 9 20% $ 29,699 $ 16,684 $ 183,912 $ - $ 230,295 $ 280,171 $ 49,877 10 10% $ 33,574 $ 18,860 $ 207,904 $ - $ 260,337 $ 285,775 $ 25,437 TOTAL $ 177,264 $ 99,580 $ 1,097,708 $ - $ 1,374,552 $ 2,618,334 $ 1,243,782 Year 0 1 2 3 4 5 Jobs Current/Actuals 0 Creation Goals 13 2 1.5 1 1 Total Employment Goals 0 13 15 17 18 18.5 © 2025 Onondaga County Industrial Development Agency. All rights reserved.
1. 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.
2. 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.
3. If the OCIDA Board approves benefits, it is the company’s responsibility to obtain and submit all necessary forms and documents.
4. All projects approved for benefits by the OCIDA Board will close with the Agency within 6-months of the OCIDA Board approval 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.
5. 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 https://extapps.dec.ny.gov/docs/permits_ej_operations_pdf/feafpart1.pdf 6. Public Officers Law stipulates all records in the possession of the Agency (with certain limited exceptions) are open to public inspection and reproduction. Should the Applicant believe there are project elements which are trade secrets if publicly disclosed or otherwise widely disseminated, would cause substantial injury to the Applicant’s competitive position, the 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 Agency may also redact personal, private, and/or proprietary information from publicly disseminated documents.
7. The completed Application and associated fees MUST be received 10 business days prior to the upcoming OCIDA Board meeting in order to be placed on the agenda. A signed application may be submitted by mail, fax or electronically in PDF format to Nate Stevens at natestevens@ongov.net. 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 This Application was adopted by the OCIDA Board on February 15, 2024.
Onondaga County Industrial Development Agency Page 1 Return completed application to:
Onondaga County Industrial Development Agency
Phone: 315-435-3770 | Fax: 315-435-3669 natestevens@ongov.net
Submittal Date: _____________
A) Applicant/Project Operator information (company receiving benefits):
1. Applicant/Project Operator: __________________________________________________
Applicant/Project Operator Address: _______________________________________ __________
Phone: __________________________ (607) 962-9868 Fax: ________________________ (607) 962-9869 __________ Website: ___________________________ VISIONSHOTELS.COM Email: _____________________ ____________ MINESHPATEL@VISIONSHOTELS.CO Federal ID#: ________________________ 92-0880703 NAICS: ________________________________
State of Incorporation: ____________________________________________________________ NY See link for your NYS incorporation information. https://apps.dos.ny.gov/publicInquiry 2. Owner (if different from Applicant/Project Operator): ____________________________ Owner Address: __________________________________________________________ Federal ID#: ______________________________________________________________ State of Incorporation: ______________________________________________________ List of stockholders, members, or partners of Owner: ____________________________ _ B) Applicant Business Organization (check appropriate category):
☐ Corporation ☐ Partnership ☐ Public Corporation ☐ Joint Venture ☐ Sole Proprietorship ☐ Limited Liability Company ☐ Other, explain List all stockholders, members, or partners with % of ownership greater than 5%: Name % of ownership ___________________________________ VISIONS HOTELS OPPORTUNITY FUND _________________________________ 100% ___________________________________ _________________________________ ___________________________________ _________________________________ ___________________________________ _________________________________ Onondaga County Industrial Development Agency Page 2 C) Applicant Business Description:
Estimated % of sales within Onondaga County: _________________________________ 100 Estimated % of sales outside Onondaga County but within New York State: ___________ 0 Estimated % of sales outside New York State but within the U.S.: __________________ 0 Estimated % of sales outside the U.S.: (*Percentage to equal 100%) ________________ 0
Applicant /Owner History: 1. Is the Owner and/or Applicant or any manager or owner of the Owner and/or Applicant now a plaintiff or defendant in any civil or criminal litigation? ☐ No ☐ Yes, explain 2. Has any owner of manager of the Owner and/or Applicant listed above ever been convicted of a criminal offense (other than a minor traffic violation)? ☐ No ☐ Yes, explain 3. Has any person listed in Section I ever been in receivership or declared bankruptcy? ☐ No ☐ Yes, explain D) Has the Applicant/Owner received assistance from Onondaga County Industrial Development Agency (OCIDA, Syracuse Industrial Development Agency (SIDA), New York State or the Onondaga Civic Development Corporation (OCDC) in the past?
☐No ☐ Yes, explain (Provide year, project name, benefit description, amounts, address) E) Individual Completing Application:
Name: MINESH PATEL Title: _______________________________
Address: 508 WHITE SPRUCE BLVD. ROCHESTER NY 14623 Phone: ______________________________
Cell Phone: (716) 307-3353 E-mail:______________________________ MINESHPATEL@VISIONSHOTELS.COM F) Company Contact (if different from individual completing application):
Name: SAME Title: ____________________________ Address: Phone: ___________________________ Cell Phone: Email: ___________________________ Onondaga County Industrial Development Agency Page 3 G) Company Counsel:
Name of Attorney: _____________________________________________________________
Firm Name: __________________________________________________________________
Address: _____________________________________________________________________
Phone: ______________________________________________________________________ (607) 594-3786 Cell Phone: ___________________________________________________________________ Email: _______________________________________________________________________ RHALPIN@THEHALPINFIRM.COM Onondaga County Industrial Development Agency Page 4
A) Project Location is where the investment will take place. If Applicant is moving, the new
location should be entered here and the current location should be in Section I. Address: PEPPERIDGE WAY Legal Address (if different): TBD City: Town: _______________Village:
Zip Code: 13090 School District: LIVERPOOL Tax Map Parcel ID(s): P/O 055.-01-01.1 Full Market Value: _______________ Square Footage of Existing Building(s):_______________ $1 NA B) Project Activity (Check all that apply):
☐ New construction ☐ Acquisition of existing facility ☐ Expansion to current facilities ☐ Brownfield/Remediated Brownfield ☐ Renovation of existing facility ☐ Demolition and construction ☐ Purchase of machinery/equipment C) Select Project Type or Project End Use at site (you may check more than one): ☐ Manufacturing ☐ Mixed Use ☐ Retail (see Section V) ☐ Facility of Aging ☐ Housing Project (see Section VII) ☐ Distribution/Wholesale ☐ Civic Facility (not for profit) ☐ Commercial ☐ Industrial ☐ Renewable Energy Project (see Section VI) ☐ Other, explain D) Project Narrative: Please check one of the two boxes below and attach statement. ☐ A statement that the Project described in this application would not be undertaken but for the financial assistance provided by the Agency.
☐ If the Project is going to advance regardless of any financial assistance from the Agency, please provide a statement indicating why the project should be considered by the Agency for any financial assistance.
Onondaga County Industrial Development Agency Page 5 E) Description of Project: Please attach a detailed narrative of the proposed Project. Please attached 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;
☐ (v) describe your method for site control (Own, lease, other).
F) 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?
☐ No ☐ Yes G) Please describe any compelling circumstances the Agency should be aware of while reviewing this application.
H) Local Approvals (Site Plan and Environmental Review) Have site plans been submitted to the appropriate town or local planning department? ☐ No. When will the plans be submitted? _____☐ Yes, what is the status?______ Approved Has the project received site plan approval from the town or local planning board? 9/11/24 SEQR Approval ☐ No, anticipated approval date. _____ ☐Yes, date ______ 10/09/24 Site Plan Approval 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: https://extapps.dec.ny.gov/docs/permits_ej_operations_pdf/feafpart1.pdf b. Has Lead Agency been established? ☐ No ☐ Yes, name of Lead Agency __________________ Town Planning Board c. Have any environmental issues been identified on the property?
☐ No ☐ Yes, explain Onondaga County Industrial Development Agency Page 6
A) Project Costs and Finances Description of Costs Total Budget Amount Land Acquisition 1,000,000 Site Work/Demo 1,200,000 Building Construction & Renovation 13,605,000 Furniture & Fixtures 3,145,000 Equipment 2,250,000 Project Soft Cost 2,900,000 Management/Developer Total Project Cost Fees project 24,100,000 cost Management/Developer Fees projecthave Please costdocumentation available upon request. Do not include OCIDA fees, OCIDA application fees or OCIDA legal fees as part of the Total Project Cost.
Sources of Funds for Project Costs:
1. Bank Financing $__________________
2. Equity $__________________
3. Tax Exempt Bond Issuance (if applicable) $__________________ NA 4. Taxable Bond Issuance (if applicable) $__________________ NA 5. Total Sources of Funds for Project Costs $__________________
grants and tax credits) $__________________ NA -Identify each state and federal grant/credit:
__________________________________ $__________________ __________________________________ $__________________ __________________________________ $__________________ Onondaga County Industrial Development Agency Page 52 of 108 Page 7 B) Employment and Payroll Information Full Time Equivalent (FTE) is defined as one employee working no less than 35 hours per week or two or more employees together working a total of 35 hours per week.
☐ No ☐ Yes, provide number of FTE jobs at the project site ___________ If you are relocating, are all employees moving to new site? ☐ No, explain ☐ Yes
Estimate the number of FTE jobs to be N/A retained as a result of this Project:
Estimate the number of construction jobs to 20 to 30 Full Time be created by this Project:
Estimate the average length of construction 18-months jobs to be created (months):
Current annual payroll including the N/A benefit cost:
Average salary amount that is an N/A employee benefit (%):
Average annual growth salary/wage N/A rate (%) Provide an estimate of the number of residents in the Economic Development Region (Onondaga, Madison, Cayuga, N/A Oneida, Oswego, and Cortland Counties) to fill new FTE jobs:
C) New Employment Benefits Complete the following chart indicating the number of FTE jobs currently employed by the
Applicant, FTE jobs currently 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. Onondaga County Industrial Development Agency Page 53 of 108 Page 8 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 Projected FTE Jobs FTE Jobs FTE Jobs FTE Jobs FTE Jobs Annual Pay Created Created Created Created Created Year 1 Year 2 Year 3 Year 4 Year 5 General Manager 90000 1 0 0 0 0 Operations Manager 65000 1 0 0 0 0 Executive House Keeper 45000 1 0 0 0 0 Engineering 45000 1 0.5 0 0 0 Guest Service 41600 3 0 0.5 1 0 Laundry 39520 1 0.5 0 0 0 House Keeping 39520 5 1 1 0 1 D) Financial Assistance sought:
☐ Real Property Tax Abatement (PILOT): Agency Staff will provide draft and final PILOT schedule: _____________________ ☐ Mortgage Recording Tax Exemption (.75% of mortgage): _____________________
☐ Sales and Use Tax Exemption (4% Local, 4% State): _________________________
☐ Tax Exempt Bond Financing (Amount Requested): ___________________________ ☐ Taxable Bond Financing (Amount Requested):
Onondaga County Industrial Development Agency Page 54 of 108 Page 9 E) 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): $ 16,870,000 Estimated Mortgage Recording Tax Exemption Benefit (product of mortgage amount as indicated above, multiplied by .0075): $ 126,525 F) 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: $_____________
Estimated State and local Sales and Use Tax Benefit (product of 8% multiplied by the figure, above): $_____________
Onondaga County Industrial Development Agency Page 55 of 108 Page 10
This section of the Application will be: (i) completed by Agency Staff based upon information contained within the Application, and (ii) provided to the Applicant for ultimate inclusion as part of this completed Application prior to the completed application being provided to the OCIDA Board.
A) PILOTS Estimate Table Worksheet OCIDA estimate of current value New construction and renovation costs OCIDA estimate of increase in value OCIDA estimated value of completed project OCIDA estimate of taxes that would have been collected if the project did not occur Scheduled PILOT payments County Local School Full Tax PILOT Total Exemption PILOT PILOT PILOT Payment Net Exemption Year Amount Amount Amount
% w/o PILOT
Estimates provided are based on current property tax rates and assessment value (current as of date of application submission) and have been calculated by IDA staff.
Onondaga County Industrial Development Agency Page 56 of 108 Page 11
For Retail Retail Projects Only Only Tax 1. Will the cost of the retail portion of the Project exceed one-third of the total project cost?
☐ Yes ☐ No If yes, please answer, questions 2, 3 and/or 4 below.
If yes, please explain how much the project will exceed one-third of the total project cost.
2. Is the Project located in a distressed area? A distressed area is a census tract that has a) A poverty rate of at least 20% or at least 20% of households receiving public assistance, and (b) an unemployment rate of least 1.25 times the statewide unemployment rate for the year to which the date relates.
☐ Yes ☐ No If yes, please provide the data and explain.
3. Is the Project likely to attract a significant number of visitors from outside of the economic development region?
☐ Yes ☐ No If yes, please provide a third party market study.
4. Is the predominate purpose of the Project to make available goods or services which would not, but for the Project, be reasonably accessible to the residents of the Town, City, County or Village of where the Project will be located. ☐ Yes ☐ No If yes, please provide data and explain.
Please see narrative included.
Onondaga County Industrial Development Agency Page 57 of 108 Page 12
Please answer all the questions as an addendum to this application: P X, an 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the Project would be affected if these benefits were not provided. [see Section II (C)]
☐ Yes, please provide a copy of the lease ☐ No, purchased the property. Please provide documentation.
3. Has the Applicant provided written communication to the affected taxing jurisdictions notifying them of its intent to construct a renewable energy project?
☐ Yes ☐ No 4. Has the Applicant received a letter of support for the megawatt cost to be used as a basis for the PILOT from the town, city, and village where the Project is located?
☐ Yes, please provide copy of the letter.
☐ No 5. Has the Applicant received a letter of support for the megawatt cost to be used as a basis for PILOT from the school district?
☐ Yes, please provide copy of the letter.
☐ No
☐ Yes ☐ No, have you reached out to the town assessor to discuss a subdivision or slash parcel? Explain:
7. Will the Applicant enter into a decommissioning plan with the host community, including financial assurance the plan can be executed?
☐ Yes, explain.
☐ No *PLEASE SEE FOLLOWING PAGE FOR OCIDA SOLAR GUIDANCE & BEST PRACTICE Onondaga County Industrial Development Agency Page 58 of 108 Page 13 OCIDA Solar PILOTs Guidance and Best Practice OCIDA SOLAR PILOTs GUIDANCE AND BEST PRACTICE To be placed on the Agency meeting agenda, proposed solar projects must provide the Agency with the following in advance of the Project’s first OCIDA Board meeting:
1. Fully completed OCIDA application.
2. Copy of Environmental Assessment Form.
3. A SEQR resolution approved by a local municipality indicating the municipality that is lead agency, the type of action (I, II, or unlisted) and, if completed, the SEQR determination made by the municipality.
4. Copies of your zoning applications submitted to the local municipality.
5. Verification of parcel subdivision process with the town (if the entire parcel will not be used for the solar project).
6. A statement clarifying whether the applicant will lease or purchase the real property on which the Project is situated. If leased, provide a copy of the proposed or executed lease. If lease parcel is less than entire parcel then see 5 above.
7. A supporting document from the local town, village, city, and/or school district outlining the agreed upon cost per megawatt to be used as a basis for the PILOT. The Agency cannot create the PILOT schedule without this information.
8. Absent a showing otherwise by the Company, deemed acceptable by the Agency in the sole and absolute discretion, the Company must close with the Agency on a project prior to consideration of any requested organizational structure or project entity ownership changes. You will receive a draft Cost Benefit Analysis and a Draft PILOT schedule from this office. You may use these documents as your Project progresses through the Agency approval process. Agency staff are available to update these two documents as needed.
Onondaga County Industrial Development Agency Page 59 of 108 Page 14
Please answer all the questions as an addendum to this application:
Defined terms:
“Market Rate Housing”: Housing units priced at the current rental rate for the area. “Workforce Housing”: Housing consisting of a specified percentage of units (at least 10-15% per the PILOT Exemption Scale) with rent rates designated to an 80% household AMI as identified in the Workforce Housing AMI chart located on the Agency’s website: (Housing Exhibit A) Income levels for individuals living in the specified Workforce Housing units shall not exceed 120% AMI.
“Senior Lifestyle Communities”: Housing communities for individuals 55 years or older. Communities may offer a variety of amenities, including but not limited to pools, community rooms, fitness centers, playgrounds, firepits, bocce/pickleball/tennis courts, picnic areas, spaces for relaxation and entertainment, safety amenities, on-site medical services, entertainment and dining, walkability, bike trails, and dog parks, playgrounds. 1. Describe the reasons why the Agency’s financial assistance is necessary. Describe how the project would be impacted if these benefits were not provided. {Section II (D)} 2. Describe how the proposed housing project fulfills an unmet need in the community. 3. Please provide a market study documenting a need for the proposed project. 4. Describe how the proposed project aligns with the Plan Onondaga County comprehensive plan. (Plan Onondaga) 5. Is the Project considered infill in a populated area? If yes, please explain. 6. Is there additional infrastructure necessary to service the project? If yes, please explain. 7. Is the project a part of a larger mixed-use development? If yes, please describe. Please refer to the Housing Exhibit A (Housing Exhibit A) Onondaga County Industrial Development Agency Page 60 of 108 Page 15
In absence of a waiver permitting otherwise, every project seeking the assistance of the Onondaga County Industrial Development Agency (Agency) must use local general contractors, sub- contractors, and labor for one-hundred percent (100%) of the construction of new, expanded, or renovated facilities. The project’s construction or project manager need not be a local company. Noncompliance may result in the revocation and/or recapture of all benefits extended to the project by the Agency. Local Labor is defined as laborers permanently residing in the State of New York counties of Cayuga, Cortland, Herkimer, Jefferson, Madison, Oneida, Onondaga, Oswego, Tompkins, and Wayne. Local (General/Sub) Contractor is defined as a contractor operating a permanent office in the State of New York counties of Cayuga, Cortland, Herkimer, Jefferson, Madison, Oneida, Onondaga, Oswego, Tompkins and Wayne. The Agency may determine on a case-by-case basis to waive the Local Access Policy for a project or for a portion of a project where consideration of warranty issues, necessity of specialized skills, significant cost differentials between local and non-local services or other compelling circumstances exist. The procedure to address a local labor waiver can be found in the OCIDA handbook, which is available upon request. In consideration of the extension of financial assistance by the Agency LIVERPOOL LODGING VENTURES LLC (the Company understands the Local Access Policy and agrees to abide by it. The Company understands that an Agency tax-exempt certificate is typically valid for 12 months from the effective date of the project inducement and extended thereafter upon request by the Company. The Company further understands that any request for a waiver to this policy must be submitted in writing and approved by the Agency.
I agree to the conditions of this agreement and certify all information provided regarding the construction and employment activities for the project as of 2/28/25 (date). If there are two applicants (Real Estate Holding and Operating Company) both need to complete this page.
Applicant(s) Company: LIVERPOOL LODGING VENTURES LLC Representative for Contract: MINESH PATEL __ Address: 508 WHITE SPRUCE BLVD City: ROCHESTER State: NY Zip: 14823 Phone: 607-962-9868 Email: MINESHPATEL@VISIONSHOTELS.COM Project Address: Pepperidge Way City: Liverpool State: NY Zip: 13090 Signature:
General Contractor: No General Contractor, Owner will sub contract all trades and act as its own GC Contact Person:
Address: City: State: Zip: Phone: Email:
Authorized Representative: Title:
Signature:
Onondaga County Industrial Development Agency Page 61 of 108 Page 16
* Minimum Fee to be applied to all project receiving OCIDA benefits is 1% of the Total Project Cost (TPC) ACTIVITY FEES COMMENTS Non- refundable Application Fee (All projects $1,000 except Solar Projects) Due at time of application Non-refundable Application Fee (Solar $10,000 Projects Only) Legal Deposit (All projects except Solar $2,500 Due at time of Projects) application Legal Deposit (Solar Projects Only) $5,000 Minimum Fee of 1% of TPC 1. Sales and Use Tax Exemption .01 X TPC Due at closing
3. PILOT is an additional fee .0025 X TPC (total X .0125) 4. Bond refinancing .0025 X TPC (total X .015) Projects that exceed $250,000,000 in Total Project Cost and/or create in excess of 500 new jobs, may be eligible to negotiate a non- TBD based on Executive Director Due at closing standard Agency fee with the Executive determination Director.
Agency Legal Fees Due at closing Fee for first $20 million .0025 X of the project cost or bond amount ..
Fee for expenses above $20 million .00125 X of project cost or bond amount Amendment or Modification of IDA documents, including but not limited to name $2500 All Projects (except Solar or organization change, refinancing, etc. Project) Due at time of Consent to the amendment or modification of $4500 Solar Projects Request IDA documents prior to closing on the project Attorney fees determined by shall be given at OCIDA’s sole and absolute OCIDA Legal Representative. discretion.
OCIDA reserves the right to modify this schedule at any time and assess fees and charges in connection with other transactions such as grants of easement or lease or sale of OCIDA-owned property. Onondaga County Industrial Development Agency Page 62 of 108 Page 17
Information to be Provided the Company: Each Company agrees that to receive benefits from the Agency it must, whenever requested by the Agency or required under applicable statutes or project documents, provide and certify or cause to be provided and certified such information concerning the Company, its finances, its employees and other topics which shall, from time to time, be necessary or appropriate, including but not limited to, such information as to enable the Agency to make any reports required by law or governmental regulation.
Please refer to the OCIDA Uniform Tax Exemption Policy (UTEP).
I have read the foregoing and agree to comply with all the terms and conditions contained therein as well as policies of the Onondaga County Industrial Agency.
If there are two applicants (Real Estate Holding and Operating Company) both need to complete this page.
Name of Applicant(s) Company _________________________________
Signature of Officer or Authorized Representative: _________________________________ Name & Title of Officer or Authorized Representative: _________________________________
Date: ______________
Onondaga County Industrial Development Agency Page 63 of 108 Page 18
Agency Board Members
Agency Officers/Staff 1. Robert M. Petrovich, Executive Director
Agency Legal Counsel & Auditor 1. Jeffrey Davis, Esq., Barclay Damon LLP 2. Amanda Fitzgerald, Esq., Barclay Damon LLP 3. Michael G. Lisson, CPA, Grossman St. Amour Certified Public Accountants PLLC The Applicant(s) has received a list of members, officers and staff of the Agency. To the best of my knowledge, no member, officer or employee of the Agency has an interest, whether direct or indirect, in any transaction contemplated by this Application, except as hereinafter described: If there are two applicants (Real Estate Holding and Operating Company) both need to complete this page.
Name of Applicant(s) Company _________________________________
Signature of Officer or Authorized Representative: _________________________________ Name & Title of Officer or Authorized Representative: _________________________________
Date: ______________
Onondaga County Industrial Development Agency Page 64 of 108 Page 19
If there are two applicants (Real Estate Holding and Operating Company) both need to complete this page.
Minesh Patel (Name of CEO or other authorized representative of
Applicant)(s) confirms and says that he/she is the ____________________ VP (title) of ____________________ Liverpool Lodging Ventures LLC (name of corporation or other entity) named in the attached Application (the “Applicant”), that he/she has read the foregoing Application and knows the contents thereof, and hereby represents, understands, and otherwise agrees with the Agency and as follows:
A. First Consideration for Employment: In accordance with §858-b (2) of the New York General Municipal Law, the Applicant understands and agrees that if the Project receives any Financial Assistance from the Agency, except as otherwise provided by collective bargaining agreements, where practicable, the Applicant will first consider persons eligible to participate in WIA programs who shall be referred by the CNY Works for new employment opportunities created as a result of the Project.
B. Annual Sales Tax Filings: In accordance with §874(8) of the New York General Municipal Law, the Applicant understands and agrees that if the Project receives any sales tax exemptions as part of the Financial Assistance from the Agency, the Applicant agrees to file, or cause to be filed, with the New York State Department of Taxation and Finance, the annual form prescribed by the Department of Taxation and Finance, describing the value of all sales tax exemptions claimed by the Applicant and all consultants or subcontractors retained by the Applicant. For additional information on NYS sales and use tax see here.
C. Outstanding Bonds: The Applicant understands and agrees to provide on an annual basis any information regarding bonds, if any, issued by the Agency for the project that is requested by the Comptroller of the State of New York.
D. Employment Reports: The Applicant understands and agrees that, if the Project receives any financial assistance from the Agency, the Applicant agrees to file with the Agency, at least annually or as otherwise required by the Agency, reports regarding the number of people employed at the project site, salary levels, contractor utilization and such other information (collectively, “Employment Reports”) that may be required from time to time on such appropriate forms as designated by the Agency. Failure to provide Employment Reports within 30 days of an Agency request shall be an event of default under the Project closing documents. Please see this page for ST-340 form required in the above referenced employment report.
Onondaga County Industrial Development Agency Page 65 of 108 Page 20 E. Housing Reports and Information: The Applicant understands and agrees that if the Project is a housing project, the Applicant shall file with the Agency, at least annually or as otherwise required by the Agency, reports regarding the number of revenue-generating units constructed or reconstructed and the household income or tenant age, as applicable. Upon request of the Agency, the Applicant shall provide supporting documentation for all housing related information provided. Failure to provide such reports and supporting information shall be an event of default under the Project closing documents F. Prevailing Wage: The Applicant understands and agrees that, if the Project receives any financial assistance from the Agency, the Applicant shall determine whether the Project is a “covered project” pursuant to Section 224-a of Article 8 of the New York Labor Law and, if applicable, the Applicant shall comply with Section 224-a of Article 8 of the New York Labor Law; and the Applicant further covenants that the Applicant shall provide such evidence of the foregoing as requested by the Agency.
G. Compliance: The Applicant understands and agrees that it is in substantial compliance with applicable local, state, and federal tax, worker protection, and environmental laws, rules, and regulations. The Applicant confirms and acknowledges that the owner, occupant or operator receiving financial assistance for the proposed Project is in substantial compliance with applicable local, state, and federal tax, worker protection and environmental laws, rules and regulations.
H. The Applicant understands and agrees that the provisions of Section 862(1) of the New York General Municipal Law, as provided below, will not be violated if financial assistance is provided for the proposed Project:
§ 862. Restrictions on funds of the Agency. (1) No funds of the Agency shall be used in respect of any project if the completion thereof would result in the removal of an industrial or manufacturing plant of the project occupant from one area of the state to another area of the state or in the abandonment of one or more plants or facilities of the project occupant located within the state, provided, however, that neither restriction shall apply if the agency shall determine on the basis of the application before it that the project is reasonably necessary to discourage the project occupant from removing such other plant or facility to a location outside the state or is reasonably necessary to preserve the competitive position of the project occupant in its respective industry. I. The Applicant confirms and acknowledges that the submission of any knowingly false or knowingly misleading information may lead to the immediate termination of any financial assistance and the reimbursement of an amount equal to all or part of any tax exemption claimed by reason of the Agency’s involvement in the Project. J. The Applicant confirms and hereby acknowledges that as of the date of this Application, the Applicant is in substantial compliance with all provisions of Article 18-A of the New York General Municipal Law, including, but not limited to, the provision of Section 859- a and Section 862(1) of the New York General Municipal Law.
Onondaga County Industrial Development Agency Page 66 of 108 Page 21 The Applicant and the individual executing this Application on behalf of Applicant acknowledge that the Agency and its counsel will rely on the representations and covenants made in this Application when acting hereon and hereby represents that the statements made herein do not contain any untrue statement of a material fact and do not omit to state a material fact necessary to make the statement contained herein not misleading.
K. The Agency has the right to request and inspect supporting documentation regarding attestations made on this application.
L. Hold Harmless Agreement: Applicant hereby releases Onondaga County Industrial Development Agency and the members, officers, servants, agents and employees thereof (the "Agency") from, agrees that the Agency shall not be liable for, and agrees to indemnify, defend and hold the Agency harmless from and against any and all liability arising from or expense incurred by: (A) the Agency's examination and processing of, and action pursuant to or upon, the attached Application, regardless of whether or not the Application or the Project described therein or the tax-exemptions and other assistance requested therein are favorably acted upon by the Agency; (B) the Agency's acquisition, construction, reconstruction, equipping and/or installation of the Project described therein and (C) any further action taken by the Agency with respect to the Project, including without limiting the generality of the foregoing, all cause of action and attorney's fees and any other expenses incurred in defending any suits or action which may arise as a result of any of the foregoing. If, for any reason, the Applicant fails to conclude or consummate necessary negotiations, or fails, within a reasonable or specified period of time, to take reasonable, proper or requested action, or withdraws, abandons, cancels or neglects the Application, or if the Agency or the Applicant are unable to reach final agreement with respect to the Project, then, and in the event, upon presentation of an invoice itemizing the same, the Applicant shall pay to the Agency, its agents or assigns, all costs incurred by the Agency in the process of the Application, including attorney's fees, if any. Onondaga County Industrial Development Agency Page 67 of 108 Page 22 Background and Project Narrative Liverpool Lodging Ventures LLC ("LLV") is an affiliate of Visions Hotels LLC, a prominent hotel development and management company with over thirty years of experience. Visions Hotels currently operates approximately sixty-eight hotels across New York, Pennsylvania, Massachusetts, and Connecticut, including six hotels in Onondaga County. LLV is a single member limited liability company and will be owned by a Visions Hotels Opportunity Fund limited partnership. LLV will own fee simple interest in the 5.26-acre site that is and will be zoned as RC-1 Regional Commercial District.
LLV, on behalf of itself and/or its principals, has applied to the Agency to enter a lease- leaseback transaction. The Agency's involvement will assist in undertaking the following: • Acquisition and fee simple ownership of land • Construction of a dual-branded Marriott hotel, consisting of a Fairfield Inn & Suites and a Residence Inn. This hotel will serve a diverse range of guests, including transient, group, and extended-stay visitors. The hotel will feature 162 rooms, along with parking and infrastructure to support the project.
• Acquisition and installation of furniture, fixtures, and equipment for the hotel. The dual-branded hotel is specifically designed to accommodate families, transient business travelers, and guests seeking a higher end lodging experience. The proposed development will transform the currently vacant site into a four-story, approximately 103,673 square foot hospitality facility. The project will include the following accommodations, services, and amenities:
• 80 extended-stay suites with kitchens at the Residence Inn • 82 standard guest rooms at the Fairfield Inn & Suites • 1,900 square-foot pool room • 1,200 square-foot fitness center • 2,600 square-foot outdoor patio with firepits, BBQ grills, heaters, and seating • Guest laundry with five washers and dryers • 400 square-foot flexible meeting room • 400 square-foot recreational room featuring an indoor golf simulator • Expansive multi-functional lobby/lounge • A market suite shop offering snacks, beverages, sundries, frozen meals, and candies This project has been thoughtfully planned with input from local leaders, neighbors, brand representatives, lenders, and investors to address the economic development needs of the area. The project aligns with community goals of expanding its hotel room inventory to meet both current and future demands. The need for additional hotel accommodations has been heightened by multiple hotel closures and the anticipated demand generated by Micron and other chip manufacturing developments. Additionally, the forecasted demand resulting from regional development will be stunted without adequate, quality hotel options. The current hotel inventory will be occupied by construction workers and consultants leaving very limited rooms for Town resident. When the 162-room Fairfield Inn and Residence Inn opens in 18 months, it will continue to offer the community a much-needed hospitality option.
Visions Hotels has built its portfolio through acquisitions and new construction projects. However, after the pandemic, the company has suspended or cancelled all new hotel construction projects due the overall cost of construction and financing. The requested benefits are essential for securing the necessary debt and equity financing for this project in this current climate. Rising labor and material costs, coupled with a challenging lending environment that has seen many lenders tighten hotel financing, have made hotel construction increasingly difficult. These challenges are further exacerbated by high interest rates, which have nearly doubled in the past five years. Given these factors, financing for the project will not be feasible unless property taxes are managed through a PILOT abatement, and other costs are mitigated through sales tax and mortgage tax exemptions.
Construction is scheduled to begin in Spring 2025, contingent upon the approval of benefits and securing lender financing. The project has already received approval from Marriott, and final design and construction drawings are currently being finalized, with approvals anticipated within the next 30 days. Once construction begins, the project is expected to take approximately 18 to 24 months to complete.
Drawing Copyright © 2024
FOR DEVELOPMENT One Park Place, 300 South State Street, Suite 600
Syracuse, NY 13202
315.471.3920 . www.chasolutions.com
RC-1 REGIONAL COMMERCIAL DISTRICT Sanitary Manhole Rim = 406.3' EXISTING LOT INFORMATION:
Sanitary Manhole Invert: 395.9'
Rim = 402.5' Central School District No. 1 of
8505 PEPPERIDGE WAY TAX MAP # 55-01-01.1
Invert: 392.5' Central School District No. 1 of the Towns of Salina and Clay Sanitary Manhole the Towns of Salina and Clay TOTAL LOT SIZE: 16.225± ACRES
(Reputed Owner)
(Reputed Owner) Rim = 403.0' Liber 2436 / Page 898 RC-1 SITE: 9.671± ACRES
Liber 2436 / Page 898 Invert: 393.1'
· RC-1, LOT 5A: 4.406± ACRES
· RC-1, LOT 5B: 5.264± ACRES
Sanitary Manhole COVERAGE REQUIREMENTS: CODE PROVIDED
Rim = 400.64' N 03°32'00" W 1078.37' 30.0' Wide
8" PVC
Sanitary Sewer & Drainage Easement Drain
Liber 4822 / Page 876 405.5' 30" HDPE MAX. RC-SITE COVERAGE: (5.800± AC) 75% 60%
8" PVC 8" PVC 8" PVC Stormwater Bio-retention Pond (INCL. STRUCTURE & PAVEMENT)
Drain
Stormwater Bio-retention Pond 405.5' N 02°43'59" W 370.28' Rip Rap RC-1, LOT 5A COVERAGE: (2.439± AC) 100% 55%
Dam
6" Underdrain (Plan)
RC-1, LOT 5B COVERAGE: (3.361± AC) 100% 64%
6" Underdrain (Plan) Underground
Rip Rap Utility Boxes
Area Edge of Pavement Rip Rap Dumpster Enclosure Stormwater Bio-retention Pond Edge of Pavement
SETBACK REQUIREMENTS & RESTRICTIONS:
Berm S 02°43'59" E 310.29' PROPOSED HOTEL ON RC-1 SITE
24" HDPE N 87°19'41" E Sedimentation Basin Concrete Pad 30.0' Wide Underground Easement
Underground Electric Easement
Granted to National Grid By
BUILDING SETBACK:
Granted to OCWA By Instrument No. 2017-48068 FRONT- 100' 108.3'
S 87°16'51" W Instrument No. 2018-23445 Asphalt
Edge of Pavement 6" Underdrain (Plan) Parking Lot
Drainage Easement REAR (RESIDENTIAL)- 75' 144.3'
For Stormwater Management Basin Valve Vents SIDE (EACH)- 75' 105.0'
Stormwater Management Concrete Sidewalk Pavilion Concrete Sidewalk
Basin S 02°34'48" E BUILDING HEIGHT (HOTEL MAX) 50' *55.0'
29.95' Concrete Concrete
Patio Patio
Valve PERIMETER LANDSCAPE STRIP: 30' (80' RES) >80' RES (*28.3' RES)
N 87°25'00" E
Asphalt 33.8'
Deed Reference: PARKING REQUIREMENTS:
Edge of Pavement Parking Lot Concrete Sidewalk ALDI, Inc (New York)
The Mufale Family Limited Partnership (Now or Formerly)
N 87°15'35" E Frame Hotel
FFE Liber 4818 / Page 380
FFE
To "TownPlace Suits Marriott" 408.0' PARKING SPACE SIZE: 9.5' X 20' 9.5 'X 20'
Stormwater Bio-retention Pond North Syracuse Lodging Group, LLC S 87°15'35" W Warranty Deed - Dated: November 18, 2015 Instrument No. 2015-041888 104.0' "
P
NUMBER OF SPACES:
S.B.L. 55.0-01-01.1 HD
FFE MANAGED LIVING FACILITY (HOTEL 1) = 1.5 SP./ ROOM
Concrete Sidewalk Overhang
Concrete Sidewalk
1.5 SP. x 109 ROOMS = 164 SP.
MANAGED LIVING FACILITY (HOTEL 2) = 1.5 SP./ ROOM
E Flag
DP Pole
"H 1.5 SP. x 162 ROOMS = 243 SP.
12 Concrete Pad
TOTAL SPACES REQUIRED............................................................= 407 SP.
Roof Leader Roof Leader
Roof Leader Roof Leader (Per Plan) (Per Plan) (Per Plan)
(Per Plan)
NS Roof Leader Asphalt
(Per Plan) 6 Parking Lot
3°3 Edge of Pavement EXISTING (HOTEL 1) SPACES............ = 165 SP.
2'1 30.0' Wide Existing PROPOSED (HOTEL 2) SPACES............ = 206 SP.
7" W Drainage Easement Liber 4822 / Page 876
30.0' TOTAL SPACES PROVIDED............................................................= *371 SP.
906 Edge of Pavement Edge of Pavement 30.0' .45 ' Sign 12" PERF. HDPE
Stormwater Bio-retention Pond * VARIANCE REQUIRED
36" Wa
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