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 30th day of August, 2022, at 2:00 p.m., local time, in the Conference Room at North Tonawanda Public Library, 505 Meadow Drive, North Tonawanda,  New York 14120, in connection with the following matter:

DLV PROPERTIES, LLC, 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 a leasehold interest in, an approximately 3.7 acre of vacant property located at 624 River Road in the City of North Tonawanda, Niagara County, New York (the "Land"); (B) the construction of a 148,000 square foot building consisting of approximately 110  residential market-rate apartment units (the “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, Existing Facility, and the Improvements, the "Facility"); and

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.

A representative of the Agency will be at the above-stated time and place to present a copy of the Company's project application and hear and accept written and oral comments from all persons with views in favor of or opposed to or otherwise relevant to the proposed Financial Assistance.

This public hearing is being conducted in accordance with Subdivision 2 of Section 859-a of the New York General Municipal Law.

DATED:  August 11, 2022

                                                                                    NIAGARA COUNTY INDUSTRIAL

                                                                                       DEVELOPMENT AGENCY

 

                                                                                    By:      Susan C. Langdon

                                                                                                Executive Director