NIAGARA COUNTY INDUSTRIAL DEVELOPMENT AGENCY

NOTICE OF PUBLIC HEARING

 

            NOTICE IS HEREBY GIVEN that a public hearing pursuant to Article 18-A of the New York General Municipal Law will be held by the Niagara County Industrial Development Agency (the "Agency") on the 29th day of June, 2022, at 2:00 p.m., local time, at the Lockport City Hall, Lockport Municipal Building, One Locks Plaza, Lockport, New York 14094, in connection with the following matter: 

Lockport Schools Federal Credit Union., and/or an individual(s) or affiliate, subsidiary, or entity or entities formed or to be formed on its behalf (the "Company"), has submitted an application to the Agency, a copy of which is on file at the office of the Agency, requesting that the Agency consider undertaking a project (the "Project") consisting of: (A) the acquisition or retention by the Agency of fee title to, or a leasehold interest in, a parcel of land located at 360 South Transit Street in the City of Lockport, Niagara County, New York (the "Land"); (B) the demolition of the existing building located on the Land, with the construction of a new 2,856 square foot building (“Improvements”); and (C) the acquisition and installation in and around the Improvements of certain items of machinery, equipment and other tangible personal property (the "Equipment" and collectively with the Land and the Improvements, the "Facility").

The Agency will acquire title to, or a leasehold interest in, the Facility and lease the Facility back to the Company.  The Company will operate the Facility during the term of the lease.  At the end of the lease term, the Company will purchase the Facility from the Agency, or if the Agency holds a leasehold interest, the leasehold interest will be terminated.  The Agency contemplates that it will provide financial assistance (the "Financial Assistance") to the Company in the form of sales and use tax exemptions and a mortgage tax exemption consistent with the policies of the Agency, and a partial real property tax abatement.

DATED:  June 8, 2022

                                                                                    NIAGARA COUNTY INDUSTRIAL

                                                                                       DEVELOPMENT AGENCY

 

                                                                                    By:    Susan C. Langdon

                                                                                              Executive Director